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A model for microeconomic and macroeconomic development

Author

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  • Ivan O. Kitov

    (Russian Academy of Sciences)

Abstract

A comprehensive study of the personal income distribution (PID) in the USA is carried out. Principal characteristics of the PID in USA are established. A microeconomic model of the personal income distribution and evolution with time is developed. The model balances two processes – individual income earning and dissipation of the income. The model accurately predicts the overall PID and its evolution and fine features of the PID in various age and income groups. The results obtained prove that the observed economic growth is a predetermined process

Suggested Citation

  • Ivan O. Kitov, 2005. "A model for microeconomic and macroeconomic development," Working Papers 05, ECINEQ, Society for the Study of Economic Inequality.
    • Handle: RePEc:inq:inqwps:ecineq2005-05
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    File URL: http://www.ecineq.org/milano/WP/ECINEQ2005-05.pdf
    File Function: First version, 2005
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    Citations

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    Cited by:

    1. Kitov, Ivan, 2007. "Modeling the evolution of Gini coefficient for personal incomes in the USA between 1947 and 2005," MPRA Paper 2798, University Library of Munich, Germany.
    2. Ivan Kitov, 2005. "Modelling the transition from a socialist to capitalist economic system," Economics Bulletin, AccessEcon, vol. 28(11), pages 1.
    3. Kitov, Ivan & Kitov, Oleg & Dolinskaya, Svetlana, 2007. "Relationship between inflation, unemployment and labor force change rate in France: cointegration test," MPRA Paper 2736, University Library of Munich, Germany.
    4. Ivan Kitov, 2005. "Evolution of the personal income distribution in the USA: High incomes," Economics Bulletin, AccessEcon, vol. 28(12), pages 1.
    5. Ivan, Kitov, 2006. "Exact prediction of inflation in the USA," MPRA Paper 2735, University Library of Munich, Germany.
    6. Ivan Kitov & Oleg Kitov & Svetlana Dolinskaya, 2007. "Linear Lagged Relationship Between Inflation, Unemployment and Labor Force Change Rate in France: Cointegration Test," Mechonomics mechonomics2, Socionet.
    7. Kitov, Ivan & Kitov, Oleg, 2013. "The dynamics of personal income distribution and inequality in the United States," MPRA Paper 48649, University Library of Munich, Germany.
    8. Ivan O. Kitov, 2008. "Modelling the average income dependence on work experience," Papers 0811.0489, arXiv.org.

    More about this item

    Keywords

    personal income distribution; microeconomic modeling; real GDP; macroeconomics;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • J1 - Labor and Demographic Economics - - Demographic Economics
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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