Distribution of personal income: Development of a new model and its application to U.S. income data
个人收入分布:新模型的构建及其对美国收入数据的应用
Abstract This paper proposes a four‐parameter statistical model of the personalized distribution of income using the ‘income share elasticity’ approach suggested by Esteban (1986). Our proposed model includes the Singh–Maddala (1976) and Dagum (1977) distributions as special cases. The generalized beta II distribution of McDonald (1984) is also a variant of this model. It appears to give an excellent fit to US income data and its empirical performance turns out to be…