#2435. Parametric representation of the top of income distributions: Options, historical evidence, and model selection

November 2026publication date
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Journal’s subject area:
Economics and Econometrics;
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Abstract:
The article analyzes the state of methodological and empirical knowledge regarding acceptable parametric functions and lists references and statistical programs that allow practitioners to apply these models to microdata in household surveys and administrative registers or to grouped record data from national accounts statistics. Shown are the implications for modeling the distributions of other economic outcomes, including consumption and wealth, and incomes below the topmost level. In terms of income, several distribution functions promise to model the upper tails based on theoretical and empirical properties, namely extreme value distributions, generalized Pareto, Singh-Maddala, and generalized beta type 2.
Keywords:
extreme value theory; inequality; parametric estimation; statistical size distribution of incomes; top-income measurement

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