Parametric families for the Lorenz curve: An analysis of income distribution in the European countries

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F19%3A10243727" target="_blank" >RIV/61989100:27510/19:10243727 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.ekf.vsb.cz/cerei/cs/index.html" target="_blank" >https://www.ekf.vsb.cz/cerei/cs/index.html</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.7327/cerei.2018.06.03" target="_blank" >10.7327/cerei.2018.06.03</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Parametric families for the Lorenz curve: An analysis of income distribution in the European countries

Popis výsledku v původním jazyce

The European Union Survey on Income and Living Conditions (EU-SILC) is the main source of information about living standards and poverty in the EU member states. We compare different parametric models for the Lorenz curve (LC) with an empirical analysis of the income distributions of 26 European countries, in the year 2017. The objective of our empirical study is to verify whether simple mono-parametric models for the LCs can represent similarities or differences between European income distributions in sufficient detail or, rather, some more sophisticated multi-parametric models should be used instead. In particular, we consider the power LC, the Pareto LC, the Lamè LC, a generalized bi-parametric version of the Lamè LC, a bi-parametric mixture of power LCs and the recently introduced arctan family of LCs. Whilst the first three families are ordered, in that different parametric values correspond to a situation of Lorenz ordering, the latter three may also identify the ambiguous situation of intersecting LCs. Therefore, besides focusing on the goodness-of-fit of the models considered and their mathematical simplicity, we concern about the effectiveness of multi-parametric models in identifying the non-dominated cases.

Název v anglickém jazyce

Parametric families for the Lorenz curve: An analysis of income distribution in the European countries

Popis výsledku anglicky

The European Union Survey on Income and Living Conditions (EU-SILC) is the main source of information about living standards and poverty in the EU member states. We compare different parametric models for the Lorenz curve (LC) with an empirical analysis of the income distributions of 26 European countries, in the year 2017. The objective of our empirical study is to verify whether simple mono-parametric models for the LCs can represent similarities or differences between European income distributions in sufficient detail or, rather, some more sophisticated multi-parametric models should be used instead. In particular, we consider the power LC, the Pareto LC, the Lamè LC, a generalized bi-parametric version of the Lamè LC, a bi-parametric mixture of power LCs and the recently introduced arctan family of LCs. Whilst the first three families are ordered, in that different parametric values correspond to a situation of Lorenz ordering, the latter three may also identify the ambiguous situation of intersecting LCs. Therefore, besides focusing on the goodness-of-fit of the models considered and their mathematical simplicity, we concern about the effectiveness of multi-parametric models in identifying the non-dominated cases.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

<a href="/cs/project/GJ17-23411Y" target="_blank" >GJ17-23411Y: Rozdělení příjmu ve společnosti: ekonometrické modely a kritéria dominance protínající Lorenzovy křivky</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název periodika

Ekonomická revue - Central European Review of Economics Issues

ISSN

1212-3951

e-ISSN

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Svazek periodika

21

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

10

Strana od-do

51-60

Kód UT WoS článku

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EID výsledku v databázi Scopus

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