Record Details

The Use Of Finite Mixtures Of Lognormal Distributions In The Modeling Of Incomes In The Czech Republic

Research Journal of Economics, Business and ICT

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Field Value
 
Title The Use Of Finite Mixtures Of Lognormal Distributions In The Modeling Of Incomes In The Czech Republic
 
Creator Mala, Ivana; University of Economics in Prague
 
Subject —
Finite mixture, Lognormal distribution, Income modelling, Czech Republic
C13, C51
 
Description Finite mixtures of probability distributions are used for the modeling of probability distributions of incomes. These distributions are typically non-homogenous, heavy tailed and positively skewed. In the text a net annual incomes per capita of the Czech households in 2004 and 2008 are analysed. The finite mixtures of lognormal distributions are fitted into data from the survey Results of the Living Conditions Survey (a national module of the European Union Statistics on Income and Living Conditions (EU-SILC)) that has been held by the Czech Statistical Office since 2005. Firstly, the components with known group membership are formed according to the education of a head of a household (factor with 5 levels) and number of children (2 levels factor children yes/no and more detailed 5 levels factor) in the household. Secondly, data are divided into groups with unknown group membership in order to obtain the best possible fit. In this case 1 to 5 components in the mixture are used. All models fitted into data are compared with the use of Akaike criterion.  
 
Publisher English Time Schools & Overseas Education
 
Contributor —
 
Date 2012-03-10
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://ojs.journals.cz/index.php/RJEBI/article/view/246
 
Source Research Journal of Economics, Business and ICT; Vol 4 (2012)
2047-7848
2045-3345
 
Language eng
 
Relation http://ojs.journals.cz/index.php/RJEBI/article/view/246/250
 
Rights Copyright (c) 2012 Ivana Mala
https://creativecommons.org/licenses/by/3.0/