Angle, John (2021): Generalizing the Inequality Process’ Gamma Model of Particle Wealth Statistics.

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Abstract
The Inequality Process (IP) has been tested and confirmed against data on incomes that are approximately gamma distributed. The IP’s gamma pdf model implies statistics of IP particle wealth expressed algebraically in terms of IP parameters but only for the subset of IP parameters that generate approximately gamma distributions of particle wealth. Many empirical distributions of income and wealth have heavierthangamma right tails. This paper shows that a variancegamma (VG) model can do what the IP’s gamma pdf model does, but for the full set of IP particle parameters, thus generalizing the IP's gamma pdf model without loss of parsimony because the parameters and statistics of both pdf models are reexpressed in terms of the same IP parameters.
Item Type:  MPRA Paper 

Original Title:  Generalizing the Inequality Process’ Gamma Model of Particle Wealth Statistics 
English Title:  Generalizing the Inequality Process’ Gamma Model of Particle Wealth Statistics 
Language:  English 
Keywords:  gamma pdf, heavierthangamma tails, Inequality Process, particle parameters, particle wealth, variancegamma pdf 
Subjects:  C  Mathematical and Quantitative Methods > C0  General D  Microeconomics > D3  Distribution > D30  General 
Item ID:  107847 
Depositing User:  Dr. John Angle 
Date Deposited:  31 May 2021 08:55 
Last Modified:  31 May 2021 08:55 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/107847 