A Guide to Estimating Income Processes in Quasidifferences

2021 ◽  
Author(s):  
Dmytro Hryshko ◽  
Francis Chiparawasha
Keyword(s):  
Income Processes

Subjective Expectations and Income Processes in Rural India

Economica ◽  
2016 ◽  
Vol 83 (331) ◽  
pp. 416-442 ◽  
Author(s):  
Orazio Attanasio ◽  
Britta Augsburg
Keyword(s):  
Rural India ◽  
Subjective Expectations ◽  
Income Processes

scholarly journals Mobility as Progressivity: Ranking Income Processes According to Equality of Opportunity

10.3386/w8431 ◽  
2001 ◽  
Author(s):  
Roland Benabou ◽  
Efe Ok
Keyword(s):  
Equality Of Opportunity ◽  
Income Processes

Higher-order income dynamics with linked regression trees

2020 ◽  
Vol 23 (3) ◽  
pp. S25-S58 ◽  
Author(s):  
Jeppe Druedahl ◽  
Anders Munk-Nielsen
Keyword(s):  
Machine Learning ◽  
Regression Trees ◽  
Higher Order ◽  
Learning Tools ◽  
Income Dynamics ◽  
Income Risk ◽  
Discrete State ◽  
State Process ◽  
Income Processes ◽  
Consumption Saving

Summary We propose a novel method for modelling income processes using machine learning. Our method links age-specific regression trees, and returns a discrete state process, which can easily be included in consumption-saving models without further discretizations. A central advantage of our approach is that it does not rely on any parametric assumptions, and because we build on existing machine learning tools it is furthermore easy to apply in practice. Using a 30-year panel of Danish males, we document rich higher-order income dynamics, including substantial skewness and high kurtosis of income levels and growth rates. We also find important changes in income risk over the life-cycle and the income distribution. Our estimated process matches these dynamics closely. Using a consumption-saving model, the implied welfare cost of income risk is more than 10% of income.

scholarly journals Small Sample Properties of Bayesian Estimators of Labor Income Processes

2015 ◽  
Vol 18 (1) ◽  
pp. 121-148 ◽  
Author(s):  
Taisuke Nakata ◽  
Christopher Tonetti
Keyword(s):  
Small Sample ◽  
Labor Income ◽  
Small Sample Properties ◽  
Income Processes ◽  
Bayesian Estimators

Games of Economic Survival with Discrete- and Continuous-Income Processes

1972 ◽  
Vol 20 (1) ◽  
pp. 37-45 ◽  
Author(s):  
Hans U. Gerber
Keyword(s):  
Economic Survival ◽  
Income Processes

scholarly journals Projecting a Life-cycle Income – a Simulation Model for the Slovak Pension Benefit Statement

2020 ◽  
Vol 15 (4) ◽  
pp. 271-284
Author(s):  
Ján Šebo ◽  
Daniela Danková ◽  
Ivan Králik
Keyword(s):  
Life Cycle ◽  
Longitudinal Data ◽  
Open Economy ◽  
Small Open Economy ◽  
Simulation Method ◽  
Projection Methods ◽  
Pension Benefit ◽  
Wide Range ◽  
Income Processes ◽  
Labor Market Shocks

The introduction of a regulation requiring pension asset managers to provide savers with an estimation of pension benefits opened a wide range of scientific questions on the projection methods and estimation of input parameters. One of them is the estimation of life-cycle income for calculating expected contributions and the estimation of the benefit ratio at the moment of retirement. We present an estimation of life-cycle income functions for various age and educational cohorts influenced by temporary labor market shocks. By employing the resampling simulation method for incorporating macroeconomic shocks, we have shown that using longitudinal data on the income process from a large closed economy could bring valid results for a country with a small open economy as well where the longitudinal data on income processes of individuals are unavailable. Our findings could serve a practical use when pension or other social benefits tied to individual income should be modelled.

The exponential Pareto model with hidden income processes: Evidence from Chile

2021 ◽  
Vol 561 ◽  
pp. 125196
Author(s):  
Juan D. Díaz ◽  
Pablo Gutiérrez Cubillos ◽  
Pablo Tapia Griñen
Keyword(s):  
Pareto Model ◽  
Income Processes

scholarly journals Modelling Income Processes with Lots of Heterogeneity

2010 ◽  
Vol 77 (4) ◽  
pp. 1353-1381 ◽  
Author(s):  
MARTIN BROWNING ◽  
METTE EJRNAES ◽  
JAVIER ALVAREZ
Keyword(s):  
Income Processes

scholarly journals Small Sample Properties of Bayesian Estimators of Labor Income Processes

2014 ◽  
Author(s):  
Taisuke Nakata ◽  
Christopher Tonetti
Keyword(s):  
Small Sample ◽  
Labor Income ◽  
Small Sample Properties ◽  
Income Processes ◽  
Bayesian Estimators

scholarly journals Small sample properties of Bayesian estimators of labor income processes

2014 ◽  
Vol 2014 (025) ◽  
pp. 1-37
Author(s):  
Taisuke Nakata ◽  
◽  
Christopher Tonetti
Keyword(s):  
Small Sample ◽  
Labor Income ◽  
Small Sample Properties ◽  
Income Processes ◽  
Bayesian Estimators
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