A two factor model of income distribution dynamics

TL;DR: In this article , an agent-based model of localised perceptions of the gender and racial wage gap in networks is proposed to explain these disparities, and the results suggest that educational interventions about the global state of gender equality are much more likely to succeed than information treatments about overall inequality and that these interventions should target the privileged.

TL;DR: In this article, the effects of the maximum marginal income tax rate on wealth inequality were studied using Forbes 400 data together with historical data on tax rates and macroeconomic indicators, and it was shown that higher tax rates induce higher Pareto exponents of the wealth distribution.

TL;DR: Wealth inequality is high in the USA and reflected in poorer health conditions. Wealth mobility is slower at the extremes of the wealth distribution. Food insecurity and poor health are experienced disproportionately by low-wealth households.

TL;DR: In this article , a tail regression method was proposed to estimate conditional tail index models with censored data, which enjoys robustness against censoring and dependence among order statistics, and validity under time-series dependence of macroeconomic control variables.

Abstract: The classic text for understanding complex statistical probability An Introduction to Probability Theory and Its Applications offers comprehensive explanations to complex statistical problems. Delving deep into densities and distributions while relating critical formulas, processes and approaches, this rigorous text provides a solid grounding in probability with practice problems throughout. Heavy on application without sacrificing theory, the discussion takes the time to explain difficult topics and how to use them. This new second edition includes new material related to the substitution of probabilistic arguments for combinatorial artifices as well as new sections on branching processes, Markov chains, and the DeMoivreLaplace theorem.

TL;DR: The authors showed that the large shocks that capital owners experienced during the Great Depression and World War II have had a permanent effect on top capital incomes and argued that steep progressive income and estate taxation may have prevented large fortunes from fully recovering from these shocks.

TL;DR: In this paper, the authors analyse a class of distribution functions that appear in a wide range of empirical data-particularly data describing sociological, biological and economic phenomena-and look for an explanation of the observed close similarities among the five classes of distributions listed above.

TL;DR: In this paper, a calibrated version of the stochastic growth model with partially uninsurable idiosyncratic risk and movements in aggregate productivity is used to analyze how movements in the distribution of income and wealth affect the macroeconomy.