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Prospective National Income and Capital Formation in the United Kingdom

✍ Scribed by Philip S. Brown


Book ID
125638453
Publisher
American Economic Association
Year
1946
Tongue
English
Weight
614 KB
Volume
36
Category
Article
ISSN
0002-8282

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## 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 mover‐stayer model of income dynamics and a geometric random walk. In any period, individuals face a discrete probability of β€˜moving’, in which