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Entropy based European income distributions and inequality measures

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Abstract In this paper, instead of likelihood based methods that are fragile under model uncertainty, we use entropy based methods on time-ordered household income data to recover income distribution information… Click to show full abstract

Abstract In this paper, instead of likelihood based methods that are fragile under model uncertainty, we use entropy based methods on time-ordered household income data to recover income distribution information on European countries and obtain an inequality income measure. For information recovery, we use a family of information theoretic entropy divergence measures to obtain income probability density functions and the corresponding inequality measures, which reflect how European country based economic behavioral systems are performing, and in terms of dynamics have changed over time.

Keywords: european income; inequality measures; income; based european; entropy based

Journal Title: Physica A: Statistical Mechanics and its Applications
Year Published: 2019

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