Growth and fluctuations of personal income
By Y. Fujiwara, W. Souma, H. Aoyama, Taisei Kaizoji, M. Aoki. 2002
151 citations recorded by the source corpus.
Pareto's law states that the distribution of personal income obeys a power-law in the high income range. Its dynamical nature has been little studied hitherto, mostly due to the lack of empirical work. Using an exhaustive list of taxpayers in Japan for two consecutive years, when the economy was relatively stable, we report here that the law is a consequence from universal distribution of the growth rate of income and approximate time-reversal symmetry of incomes in the successive years. We also find a relation between positive and negative growth rates that shows good agreement with the data.
Subfields: Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/1c63c5e0567daa3f28c4efade08bcad9767174d1
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In Economics and Econometrics
Citations in the corpus
- Econophysics review: II. Agent-based models (2011, unknown): “More recent empirical studies on income distribution have been carried out by physicists, e.g. those by Dragulescu and Yakovenko (2001a, b) for the UK and US, by Fujiwara et al. (2003) for Japan, and by Nirei and Souma (2007) for the US and Japan.”
- Universal patterns of inequality (2009, background): “In the ideal economic equilibrium, there should be no price changes allowing one to make systematic profits, which is known as the “no-arbitrage theorem”.”
- Colloquium: Statistical mechanics of money, wealth, and income (2009, background): “Income distribution has been examined in econophysics papers for different countries: Japan (Aoyama et al., 2003; Ferrero, 2004, 2005; Fujiwara et al., 2003; Nirei and Souma, 18 2007; Souma, 2001, 2002; Souma and Nirei, 2005), Germany (Clementi and Gallegati, 2005a; Clementi, Gallegati, and Kaniadak”