The Distribution of Income and Wealth: Parametric Modeling with the κ-Generalized Family (New Economic Windows) (Hardcover)

The Distribution of Income and Wealth: Parametric Modeling with the κ-Generalized Family (New Economic Windows) By Fabio Clementi, Mauro Gallegati Cover Image

The Distribution of Income and Wealth: Parametric Modeling with the κ-Generalized Family (New Economic Windows) (Hardcover)

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Introduction.- The Revived Interest in the Problems of Income and Wealth Distribution.- Re-incorporating Distributional Issues Into the Main Body of Economic Analysis.- Aim and Contents of this Book.- The Parametric Approach to Income and Wealth Distributional Analysis.- The Idea of a Parametric Model for Income and Wealth Distributions.- Brief History of the Models for Studying Income and Wealth Distributions.- The κ-Generalized Distribution.- Underlying Stochastic Process.- Empirical Results and Comparisons to Alternative Income Distributions.- The κ-Generalized Mixture Model for the Size Distribution of Wealth.- Motivation.- Model Specification.- Moments of the κ-Generalized Mixture Model for Net Wealth Distribution.- The Lorenz Curve and the Gini Index of the Net Wealth Distribution Model.- Empirical Results and Comparison of Finite Mixture Models for Net Wealth Distribution.- Four-Parameter Extensions of the κ-Generalized Distribution.- Definitions and Basic Properties.- Population Characteristics.- Empirical Results and Comparisons to Alternative Four-Parameter Statistical Distributions.- Conclusions.- Appendices.- References.- Author Index.- Subject Index.
Mauro Gallegati is Professor of Economics at the Polytechnic University of Marche (Ancona, Italy). His research includes business fluctuations, nonlinear dynamics, models of financial fragility, and heterogeneous interacting agents. He has published books and many papers in leading journals in the fields of economics, economic history and history of economic analysis, nonlinear mathematics, applied economics, complexity, and econophysics. He has been involved in several international research projects since 2004. Fabio Clementi, PhD, is Assistant Professor of Economics at the University of Macerata (Italy). His main research interests focus on the size distribution of income, wealth and firms, the business cycle analysis, and the empirical validation of agent-based economic models with real-world data. He has also been involved in national and international research projects in the field of agent-based computational economics.

Product Details ISBN: 9783319274089
ISBN-10: 3319274082
Publisher: Springer
Publication Date: February 10th, 2016
Pages: 177
Language: English
Series: New Economic Windows