The Power-law Tail Exponent of Income Distributions

Details The Power-law Tail Exponent of Income Distributions The Power-law Tail Exponent of Income Distributions

2006-03-08

arxiv.org/abs/physics/0603061v1

Physica A: Statistical and Theoretical Physics, Vol: 370, Issue 1, October 1, 2006, pp. 49-53

Physics

Physics and Society

Latex2e v1.6; 8 pages with 3 figures; in press (Physica A)

Scientific paper

10.1016/j.physa.2006.04.027

In this paper we tackle the problem of estimating the power-law tail exponent
of income distributions by using the Hill's estimator. A subsample
semi-parametric bootstrap procedure minimising the mean squared error is used
to choose the power-law cutoff value optimally. This technique is applied to
personal income data for Australia and Italy.

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