Abstract #300452


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JSM 2002 Abstract #300452
Activity Number: 383
Type: Contributed
Date/Time: Thursday, August 15, 2002 : 8:30 AM to 12:20 PM
Sponsor: Business & Economics Statistics Section*
Abstract - #300452
Title: Modeling the Secular Dynamics of the Shape of the Nonmetro Distribution of Wage and Salary Income as a Function of its Mean
Author(s): John Angle*+
Affiliation(s): Economic Research Service
Address: Room S2065, 1800 M. Street NW, Washington, DC, 20036, USA
Keywords: distribution ; gamma pdf ; nonmetro wages and salaries ; stochastic process ; tail dynamics
Abstract:

A gamma pdf model of nonmetro wage and salary income distribution, conditioned on education with a particular specification of the dynamics of shape and scale parameter, is shown to account for three striking, "quirky" (in the sense of unexpected on the basis of economic theory) aspects of the left and right tail dynamics of the empirical distribution. While successful as a simple ad hoc model of the secular dynamics of the shape of the nonmetro distribution of wage and salary income, this ad hoc model is also shown to be a close approximation to the solution of the Inequality Process, a stochastic process model of income distribution whose implications for the dynamics of individual incomes have previously been confirmed.


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