Journal
ECONOMICS LETTERS
Volume 133, Issue -, Pages 59-63Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2015.05.015
Keywords
Lorenz curve; Parametric form; Hybrid method
Categories
Funding
- Social Science Foundation of China [10BJL015, 12AZD030]
- Chinese Ministry of Education [09YJA790152]
- Center for Economic Development Research, Wuhan University
- Social Science Division, Wuhan University
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We first suggest a bi-parametric Lorenz curve and then analyze the curvature structure of the function. We then build a series of single-parameter Lorenz curves with varied curvatures, which are special cases of the rational function. A hybrid method is thefi introduced for creating efficient functional models for the Lorenz curve from the single-parameter functional forms. Using grouped income distribution data for the United States, we find that our proposed models perform well. (C) 2015 Elsevier B.V. All rights reserved.
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