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Modeling income on the basis of distribution mixture

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Sitek G.

Mathematical Economics

2014

issue 10(17)

79-90

Finite mixtures of probability distributions may be successfully used in the modeling of probability distributions of incomes. These distributions are typically heavy tailed and positively skewed. This article deals with the problem of determining the number of components in mixture modeling. This paper considers the likelihood of ratio-based testing of the null hypothesis of homogeneity in mixture models. The number of components is an important parameter in the applications of finite mixture models.

Estimation of changes in the distribution of income in the Czech Republic using mixture models

100%

Malá I.

Śląski Przegląd Statystyczny

2013

issue 11(17)

137-150

In the text the development of distributions (and their characteristics) of the equivalised net annual nominal income in Czech households in 2004-2009 is studied. Three-parametric lognormal and Dagum distributions are used as a model for income probability distribution. Moreover, finite mixtures of these distributions are estimated for the models with an observable component membership (given by the number of economically active members of the household and the number of unemployed members). Data from the European Union survey – Statistics on Income and Living Conditions 2005-2010 – are used for the analysis. All the estimates in the text are obtained using the maximum likelihood method.

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1 Mathematical Economics

1 Śląski Przegląd Statystyczny

1 Malá I.

1 Sitek G.

1 2014

1 2013

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Modeling income on the basis of distribution mixture

Estimation of changes in the distribution of income in the Czech Republic using mixture models