6533b833fe1ef96bd129ca0f

RESEARCH PRODUCT

Time Trends in the Joint Distributions of Income and Age

Klaus J. UtikalAlois Kneip

subject

Time changesFunctional principal component analysisCross-sectional dataInequalityIncome distributionJoint probability distributionTime trendsmedia_common.quotation_subjectEconometricsJoint (geology)Mathematicsmedia_common

description

We propose a method of analyzing time changes of joint income-age densities. Change is decomposed into time invariant components which act on the densities as deformations with time varying strength. The functional form of these components is estimated non parametrically from cross sectional data. The method is applied to analyze British household data on income and age for the years 1968–95. It is learned that for the young and middle aged there is a trend towards increasing inequality, while during the early eighties there seems to occur a reversal in the evolution of the income distribution for the old.

yearjournalcountryeditionlanguage
2001-01-01
https://doi.org/10.1007/978-3-662-04623-4_16