Another Approaches to Modeling the Wage and Income Distribution Based on the Use of Order Statistics

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04274644%3A_____%2F16%3A%230000115" target="_blank" >RIV/04274644:_____/16:#0000115 - isvavai.cz</a>

Alternative codes found

RIV/61384399:31140/16:00048300

Result on the web

—

DOI - Digital Object Identifier

—

Result language

angličtina

Original language name

Another Approaches to Modeling the Wage and Income Distribution Based on the Use of Order Statistics

Original language description

Despite not producing good results, the method of moments is commonly applied when constructing the parametric distribution for a data file. An alternative approach is to use the so-called order statistics. The present paper deals with the application of order statistics (parameter estimation methods of L-moments and TL-moments) to the economic data. Theoretical advantages of L-moments over conventional moments become obvious when applied to small data sets, e.g. in hydrology, meteorology and climatology, considering extreme precipitation in particular. The main aim of this paper is to apply the two methods to large data sets, comparing their parametric estimation accuracy with that of the maximum likelihood method. The methods of L-moments and TL-moments are utilized for the construction of income and wage distribution models.

Czech name

—

Czech description

—

Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

—

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

International Journal of Mathematical and Computer Modelling

ISSN

2051-4271

e-ISSN

—

Volume of the periodical

Vol.21

Issue of the periodical within the volume

Issue.1

Country of publishing house

GB - UNITED KINGDOM

Number of pages

26

Pages from-to

1193-1218

UT code for WoS article

—

EID of the result in the Scopus database

—