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The Beaman Distribution: A New Descriptive Model for the Size Distribution of Incomes

Author

Listed:
  • Fiona C. Maclachlan

    (Manhattan College)

  • John E. Reith

    (E.I. Du Pont de Nemours & Co.)

Abstract

A new two-parameter descriptive model for the size distribution of incomes is presented. The Beaman distribution, originally found to describe the relationship between prices and sales volumes of textiles and related products, is shown to fit closely US Census data on individual incomes over the past twenty years. The two parameters of the model represent the minimum and median levels of income. An important advantage of the Beaman distribution over other two-parameter models is that negative incomes can be accounted for.

Suggested Citation

  • Fiona C. Maclachlan & John E. Reith, 2008. "The Beaman Distribution: A New Descriptive Model for the Size Distribution of Incomes," Journal of Income Distribution, Ad libros publications inc., vol. 17(1), pages 81-86, March.
    • Handle: RePEc:jid:journl:y:2008:v:17:i:1:p:81-86
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    More about this item

    Keywords

    income distribution; gamma distribution; Weibull distribution;
    All these keywords.

    JEL classification:

    • C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Econometric and Statistical Methods; Specific Distributions
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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