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The Use of Cross-Section Microdata in Life Cycle Models: An Application to Inequality Theory in Nonstationary Economies

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  • I. J. Irvine

Abstract

This paper examines the appropriate use of cross-section microdata in life cycle models. Drawing upon recent empirical work based upon panel data, we illustrate how these results can be used as priors to generate a distribution of life cycle earnings. Such a surrogate distribution can be shown to possess the same properties as actual distributions. We focus attention particularly upon the treatment of economic growth and the unobservable components of earnings. In the final section of the paper, we show how such distributions might be used in inequality analysis.

Suggested Citation

  • I. J. Irvine, 1981. "The Use of Cross-Section Microdata in Life Cycle Models: An Application to Inequality Theory in Nonstationary Economies," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(2), pages 301-316.
    • Handle: RePEc:oup:qjecon:v:96:y:1981:i:2:p:301-316.
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    File URL: http://hdl.handle.net/10.2307/1882392
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    Cited by:

    1. Parker, Simon C. & Siddiq, Fazley K., 1997. "Seeking a comprehensive measure of economic well-being: Annuitisation versus capitalisation," Economics Letters, Elsevier, vol. 54(3), pages 241-244, July.
    2. John Creedy, 1991. "Lifetime Earnings and Inequality," The Economic Record, The Economic Society of Australia, vol. 67(1), pages 46-58, March.
    3. Levy, Amnon, 2005. "Deterrence Capacity, Relative Performance, Adjustment Costs, Hazard, Killing Aversion and the Optimal Enlistment Age," Economics Working Papers wp05-01, School of Economics, University of Wollongong, NSW, Australia.
    4. Dong Zhou, 2016. "The Long-term Impacts of the Cultural Revolution: A Micro-Analysis," LABOUR, CEIS, vol. 30(3), pages 285-317, September.

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