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＜departmental bulletin paper＞
Estimation of an Appropriate Function for the Household Income Distribution of Bangladesh and Income Inequality
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| Abstract | Many distributions have been developed as descriptive models for the size distribution of income. In this paper, at the first stage, we considered the two parameters models, like Lognormal and Gamma f...amilies and at the second stage we considered the three and four parameters models like Log-t, Generalized Gamma, Singh-Maddala and Generalized Beta distributions as descriptive models for the household income distribution of Bangladesh. All of these considered functions do not fit the real data of the household income distribution of Bangladesh very well. That is why, the principle purpose of this paper is to select an appropriate distribution that fits the size distribution of household income of Bangladesh very well. And another attempt has been made to calculate some important measures of income inequality on the basis of the appropriate distribution. For the purpose of comparing the distributions, we also used a nonlinear maximization technique and adopted the parameters value, probabilities, sum of squared errors criteria, sum of absolute errors criteria and the chi-square value of the different distributions. On the basis of these criteria the relative performance of the different distributions is compared. An empirical application, including a comparison the considered distributions to demonstrate the better fit is made to household income data of Bangladesh for the years, 1995-96, 1991-92, 1988-89 and 1985-86. In our collected data, measurement errors arise from approximation and rounding off. That is why, on the basis of the selected distribution we have calculated some inequality measures, like, Relative Mean Deviation, Variance, Standdard Deviation of Logarithm, Coefficient of Variation, Lorenz Curve and the Gini Coefficient for the years, 1995-96, 1991-92, 1988-89 and 1985-86. Finally for the empirical analysis the set of data has been collected from BBS (Bangladesh Buruae of Statistics) publication like Household Expenditure Survey1.show more |
| Table of Contents | 1 Introduction 2 Some Important Functions for the Size Distribution of Income 3 Empirical Analysis to Select an Appropriate Function as a Descriptive Model for the Household Income Distribution of Bangladesh 4 Some Important Measures of Income Inequality 5 Empirical Analysis of Some Important of income inequality Measures 6 Discussion and Conclusion |
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| Created Date | 2020.05.28 |
| Modified Date | 2023.07.28 |