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Modelling Income Using the Generalised Lambda Distribution

Author

Listed:
  • Haritha N. Haridas

    (Cochin University of Science and Technology)

  • N. Unnikrishnan Nair

    (Cochin University of Science and Technology)

  • K.R. Muraleedharan Nair

    (Cochin University of Science and Technology)

Abstract

In the present article we propose the generalised lambda distribution as a model for income data. The quantile measures of location, dispersion, skewness, and kurtosis of the distribution are matched against the corresponding measures derived from the sample to estimate the parameters of the model. It is shown that the distribution provides reasonable fit to real data. Some properties of the model, including measures of income inequality, are also discussed in the article. Comparison of the generalised lambda distribution fits with other models is made.

Suggested Citation

  • Haritha N. Haridas & N. Unnikrishnan Nair & K.R. Muraleedharan Nair, 2008. "Modelling Income Using the Generalised Lambda Distribution," Journal of Income Distribution, Ad libros publications inc., vol. 17(2), pages 37-51, June.
    • Handle: RePEc:jid:journl:y:2008:v:17:i:2:p:37-51
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    File URL: http://jid.journals.yorku.ca/index.php/jid/article/view/17811
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    Cited by:

    1. Unnikrishnan Nair, N. & Vineshkumar, B., 2022. "Modelling informetric data using quantile functions," Journal of Informetrics, Elsevier, vol. 16(2).

    More about this item

    Keywords

    income distribution; generalised lambda model; quantile functions; income inequality;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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