Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/192229 
Year of Publication: 
1999
Series/Report no.: 
Discussion Papers No. 246
Publisher: 
Statistics Norway, Research Department, Oslo
Abstract: 
Mandelbrot (1961) proposed to apply the class of Pareto-Levy distributions - which belong to the Stable distributions - as a framework for modelling income distributions. He also presented theoretic arguments in favor of the Pareto-Levy distributions. In this paper we provide additional theoretical justification for this class of distributions. We also use micro data on individual market income to estimate the parameters of a Pareto-Levy distribution. Several estimation methods have been applied. The estimated Pareto-Levy distribution appears to fit the data well.
Subjects: 
Stable distributions
Pareto-Levy distributions
Income distributions
JEL: 
C13
D31
Document Type: 
Working Paper

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