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Book Chapter

Modelling Inequality with a Single Parameter

  • Henle J
  • Horton N
  • Jakus S
Springer New York, (2008), 255-269
DOI: 10.1007/978-0-387-72796-7_14
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Abstract

Abstract We argue that the Lorenz curve for income is well-modelled by a member of the one-parameter family of functions: 1 {y = (1 − (1 − r)k) }. k We justify this statement with data from the Luxembourg Income Study. The family of curves arises from a dynamic model of income growth, in which the parameter k has a direct economic interpretation.

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Henle, J. M., Horton, N. J., & Jakus, S. J. (2008). Modelling Inequality with a Single Parameter. In Modeling Income Distributions and Lorenz Curves (pp. 255–269). Springer New York. https://doi.org/10.1007/978-0-387-72796-7_14

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