IDEAS home Printed from https://ideas.repec.org/p/arx/papers/1610.08676.html
   My bibliography  Save this paper

$\kappa$-generalized models of income and wealth distributions: A survey

Author

Listed:
  • F. Clementi
  • M. Gallegati
  • G. Kaniadakis
  • S. Landini

Abstract

The paper provides a survey of results related to the "$\kappa$-generalized distribution", a statistical model for the size distribution of income and wealth. Topics include, among others, discussion of basic analytical properties, interrelations with other statistical distributions as well as aspects that are of special interest in the income distribution field, such as the Gini index and the Lorenz curve. An extension of the basic model that is most able to accommodate the special features of wealth data is also reviewed. The survey of empirical applications given in this paper shows the $\kappa$-generalized models of income and wealth to be in excellent agreement with the observed data in many cases.

Suggested Citation

  • F. Clementi & M. Gallegati & G. Kaniadakis & S. Landini, 2016. "$\kappa$-generalized models of income and wealth distributions: A survey," Papers 1610.08676, arXiv.org.
    • Handle: RePEc:arx:papers:1610.08676
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/1610.08676
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Cowell, Frank, 2011. "Measuring Inequality," OUP Catalogue, Oxford University Press, edition 3, number 9780199594047.
    2. Masato Okamoto, 2013. "Extension of the κ-generalized distribution: new four-parameter models for the size distribution of income and consumption," LIS Working papers 600, LIS Cross-National Data Center in Luxembourg.
    3. Atkinson, Anthony B., 2015. "Inequality: what can be done?," LSE Research Online Documents on Economics 101810, London School of Economics and Political Science, LSE Library.
    4. P. Jenkins, Stephen & Jäntti, Markus, 2005. "Methods for summarizing and comparing wealth distributions," ISER Working Paper Series 2005-05, Institute for Social and Economic Research.
    5. repec:cup:cbooks:9781107013445 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kazuhiko Kakamu & Haruhisa Nishino, 2019. "Bayesian Estimation of Beta-type Distribution Parameters Based on Grouped Data," Computational Economics, Springer;Society for Computational Economics, vol. 54(2), pages 625-645, August.
    2. Fabio Clementi & Mauro Gallegati & Lisa Gianmoena & Simone Landini & Joseph E. Stiglitz, 2019. "Mis-measurement of inequality: a critical reflection and new insights," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(4), pages 891-921, December.
    3. Yuri Biondi & Simone Righi, 2019. "Inequality, mobility and the financial accumulation process: a computational economic analysis," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(1), pages 93-119, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vladimir Hlasny, 2021. "Parametric representation of the top of income distributions: Options, historical evidence, and model selection," Journal of Economic Surveys, Wiley Blackwell, vol. 35(4), pages 1217-1256, September.
    2. Nuno Crespo & Sandrina B. Moreira & Nadia Simoes, 2015. "An Integrated Approach for the Measurement of Inequality, Poverty, and Richness," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 62(5), pages 531-555, December.
    3. Eliazar, Iddo, 2017. "Investigating equality: The Rényi spectrum," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 481(C), pages 90-118.
    4. Silke Goubin, 2018. "Is Inequality a Latent Construct? An Assessment of Economic Inequality Indicators and Their Relation with Social Cohesion in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 136(1), pages 21-40, February.
    5. Eliazar, Iddo, 2016. "Visualizing inequality," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 454(C), pages 66-80.
    6. Fabio CLEMENTI & Mauro GALLEGATI, 2017. "NEW ECONOMIC WINDOWS ON INCOME AND WEALTH: THE k-GENERALIZED FAMILY OF DISTRIBUTIONS," Journal of Social and Economic Statistics, Bucharest University of Economic Studies, vol. 6(1), pages 1-15, JULY.
    7. Amparo Ba'illo & Javier C'arcamo & Carlos Mora-Corral, 2021. "Extremal points of Lorenz curves and applications to inequality analysis," Papers 2103.03286, arXiv.org.
    8. Kutuk, Yasin, 2022. "Inequality convergence: A world-systems theory approach," Structural Change and Economic Dynamics, Elsevier, vol. 63(C), pages 150-165.
    9. Peppel-Srebrny, Jemima, 2021. "Not all government budget deficits are created equal: Evidence from advanced economies' sovereign bond markets," Journal of International Money and Finance, Elsevier, vol. 118(C).
    10. Shweta Bahl & Ajay Sharma, 2021. "Education–Occupation Mismatch and Dispersion in Returns to Education: Evidence from India," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 153(1), pages 251-298, January.
    11. Scott Duke Kominers & Alexander Teytelboym & Vincent P Crawford, 2017. "An invitation to market design," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(4), pages 541-571.
    12. Juan Antonio Duro & Jordi Teixidó-Figueras & Emilio Padilla, 2017. "The Causal Factors of International Inequality in $$\hbox {CO}_{2}$$ CO 2 Emissions Per Capita: A Regression-Based Inequality Decomposition Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(4), pages 683-700, August.
    13. Franzini, Maurizio & Raitano, Michele, 2019. "Earnings inequality and workers’ skills in Italy," Structural Change and Economic Dynamics, Elsevier, vol. 51(C), pages 215-224.
    14. Zheng, Liang & Xue, Xinfeng & Xu, Chengcheng & Ran, Bin, 2019. "A stochastic simulation-based optimization method for equitable and efficient network-wide signal timing under uncertainties," Transportation Research Part B: Methodological, Elsevier, vol. 122(C), pages 287-308.
    15. Timm Bönke & Markus M. Grabka & Carsten Schröder & Edward N. Wolff & Lennard Zyska, 2019. "The Joint Distribution of Net Worth and Pension Wealth in Germany," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 65(4), pages 834-871, December.
    16. Hendrik Thiel & Stephan L. Thomsen, 2015. "Individual Poverty Paths and the Stability of Control-Perception," SOEPpapers on Multidisciplinary Panel Data Research 794, DIW Berlin, The German Socio-Economic Panel (SOEP).
    17. Teixidó-Figueras, J. & Duro, J.A., 2014. "Spatial Polarization of the Ecological Footprint Distribution," Ecological Economics, Elsevier, vol. 104(C), pages 93-106.
    18. Islam, Nizamul & Colombino, Ugo, 2018. "The case for NIT+FT in Europe. An empirical optimal taxation exercise," Economic Modelling, Elsevier, vol. 75(C), pages 38-69.
    19. Valeria Bonis & Luca Spataro, 2018. "Optimal income taxation and migration," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(4), pages 867-882, August.
    20. Nora Lustig, 2017. "Fiscal Policy, Income Redistribution and Poverty Reduction in Low and Middle Income Countries," Commitment to Equity (CEQ) Working Paper Series 54, Tulane University, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:1610.08676. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.