TY - JOUR
T1 - Age-income profiles, income distribution and transition proportions
AU - Hartog, Joop
N1 - Copyright:
Copyright 2018 Elsevier B.V., All rights reserved.
PY - 1976/12
Y1 - 1976/12
N2 - This paper presents a model to link age-income profiles, income distribution, and transition proportions. Transition proportions play a central role in the Markov-chain approach to income distribution. This stochastic model is much criticized, but it is shown in the paper that its most attractive characteristic can be maintained, while at the same time integrating it with a micro-economic foundation of age-income profiles. These profiles are inferred from capability development and individual choice. The model also analytically generates an income distribution.
AB - This paper presents a model to link age-income profiles, income distribution, and transition proportions. Transition proportions play a central role in the Markov-chain approach to income distribution. This stochastic model is much criticized, but it is shown in the paper that its most attractive characteristic can be maintained, while at the same time integrating it with a micro-economic foundation of age-income profiles. These profiles are inferred from capability development and individual choice. The model also analytically generates an income distribution.
UR - http://www.scopus.com/inward/record.url?scp=49349140625&partnerID=8YFLogxK
U2 - 10.1016/0022-0531(76)90053-3
DO - 10.1016/0022-0531(76)90053-3
M3 - Comment/debate
AN - SCOPUS:49349140625
SN - 0022-0531
VL - 13
SP - 448
EP - 457
JO - Journal of Economic Theory
JF - Journal of Economic Theory
IS - 3
ER -
