Related papers: Visualizing Income Distribution in the United Stat…
We decompose the U.S. consumption inequality distributional changes during the COVID-19 phase. Analyzing the Consumption Expenditure Interview Survey data, we decompose observed changes in consumption inequality into components attributable…
In 2016, the majority of full-time employed women in the U.S. earned significantly less than comparable men. The extent to which women were affected by gender inequality in earnings, however, depended greatly on socio-economic…
Income inequality estimators are biased in small samples, leading generally to an underestimation. This aspect deserves particular attention when estimating inequality in small domains and performing small area estimation at the area level.…
The goal of this paper is to investigate the importance of providing visual "big pictures" in the teaching of economics. The plurality and variety of concepts, variables, diagrams, and models involved in economics can be a source of…
We propose a nonparametric method for estimating the distribution of consumer welfare from cross-sectional data with no restrictions on individual preferences. First demonstrating that moments of demand identify the curvature of the…
The pursuit of having an appropriate level of income inequality should be viewed as one of the biggest challenges facing academic scholars as well as policy makers. Unfortunately, research on this issue is currently lacking. This study is…
It is commonly believed that patterns of social ties affect individuals' economic status. Here, we translate this concept into an operational definition at the network level, which allows us to infer the economic wellbeing of individuals…
The paper starts with a brief review of present understanding of income distributions; especially with regard to recent work in the field of econophysics that draws parallels between income, wealth and energy distributions. Examples of…
Understanding consumption dynamics and its impact on the whole economy and welfare within the present economic crisis is not an easy task. Indeed the level of consumer demand for different goods varies with the prices, consumer incomes and…
With companies, states, and countries targeting net-zero emissions around midcentury, there are questions about how these targets alter household welfare and finances, including distributional effects across income groups. This paper…
Income verification is the problem of validating a person's stated income given basic identity information such as name, location, job title and employer. It is widely used in the context of mortgage lending, rental applications and other…
Redistribution of resources within a group as a method to reduce wealth inequality is a current area of debate. The evolutionary path to or away from wealth sharing is also a subject of active research. In order to investigate effects and…
Reducing wealth inequality and increasing utility are critical issues. This study reveals the effects of redistribution and consumption morals on wealth inequality and utility. To this end, we present a novel approach that couples the…
We propose a highly schematic economic model in which, in some cases, wage inequalities lead to higher overall social welfare. This is due to the fact that high earners can consume low productivity, non essential products, which allows…
We propose a user-friendly graphical tool, the half-disk density strip (HDDS), for visualizing and comparing probability density functions. The HDDS exploits color shading for representing a distribution in an intuitive way. In univariate…
Using tax and census data, we demonstrate that the distribution of individual income in the USA is exponential. Our calculated Lorenz curve without fitting parameters and Gini coefficient 1/2 agree well with the data. From the individual…
Despite the plethora of financial services and products on the market nowadays, there is a lack of such services and products designed especially for the low-wage population. Approximately 30% of the U.S. working population engage in…
This paper studies the income fluctuation problem with capital income risk (i.e., dispersion in the rate of return to wealth). Wealth returns and labor earnings are allowed to be serially correlated and mutually dependent. Rewards can be…
The results of R^2 dynamical random surface model (2-dimensional quantum gravity with a $R^2$ term) are applied to explain the personal income distribution. A scale invariance exists if there is not the $R^2$ term in the action. The R^2…
Financial literacy empowers individuals to make informed and effective financial decisions, improving their overall financial well-being and security. However, for many people understanding financial concepts can be daunting and only half…