Generalized Pareto distribution and income inequality: an extension of Gibrat's law
Motivated by empirical observations, we proposed a possible extension of Gibrat's law. By applying it into the random growth theory of income distribution, we found that the income distribution is described by a generalized Pareto distribution (GPD) with three parameters. We observed that there...
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| Format: | Article |
| Language: | English |
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AIMS Press
2024-04-01
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| Series: | AIMS Mathematics |
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| Online Access: | https://www.aimspress.com/article/doi/10.3934/math.2024730?viewType=HTML |