Income distribution and income dynamics
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Jayasri Dutta; Dr J. A. Sefton; M. R. WEALE
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Article
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2001
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John Wiley and Sons
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English
β 156 KB
## Abstract In this paper, we propose a model of income dynamics which takes account of mobility both within and between jobs. The model is a hybrid of the moverβstayer model of income dynamics and a geometric random walk. In any period, individuals face a discrete probability of βmovingβ, in which