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Models for Measured Income

Author

Listed:
  • Saralees Nadarajah

    (University of Manchester)

  • Samuel Kotz

    (George Washington University)

Abstract

Measurement error can impact estimator precision, obscure estimated relationships between variables, and distort the estimated intertemporal behavior of important economic characteristics. A commonly known model for measurement error assumes that measured income is the product of true income and a multiplicative measurement error, which is distributed independently of the level of true income. Based on this model, we derive a collection of flexible parametric forms for the distribution of measured income. We feel that this work could serve as an important reference for measurement error modeling.

Suggested Citation

  • Saralees Nadarajah & Samuel Kotz, 2008. "Models for Measured Income," Journal of Income Distribution, Ad libros publications inc., vol. 17(2), pages 95-108, June.
    • Handle: RePEc:jid:journl:y:2008:v:17:i:2:p:95-108
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    File URL: http://jid.journals.yorku.ca/index.php/jid/article/view/17814
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    More about this item

    Keywords

    income distribution; income measurement; measurement error;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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