Age-income profiles, income distribution and transition proportions

Joop Hartog

doi:10.1016/0022-0531(76)90053-3

Age-income profiles, income distribution and transition proportions

Joop Hartog^*

^*Corresponding author for this work

Research output: Contribution to journal › Comment/debate

1 Citation (Scopus)

Abstract

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.

Original language	English
Pages (from-to)	448-457
Number of pages	10
Journal	Journal of Economic Theory
Volume	13
Issue number	3
DOIs	https://doi.org/10.1016/0022-0531(76)90053-3
Publication status	Published - Dec 1976
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 1 No Poverty
SDG 10 Reduced Inequalities

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10.1016/0022-0531(76)90053-3

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title = "Age-income profiles, income distribution and transition proportions",

abstract = "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.",

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year = "1976",

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AU - Hartog, Joop

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 - https://www.scopus.com/pages/publications/49349140625

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 -

Age-income profiles, income distribution and transition proportions

Abstract

UN SDGs

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