Heavy tails and upper-tail inequality: the case of Russia.
File(s)
Author(s)
Ibragimov, Marat
Ibragimov, Rustam
Type
Journal Article
Abstract
Motivated, in part, by the recent surge of interest in robust inequality measurement, cross-country inequality comparisons, applications of heavy-tailed distributions and the study of global and upper-tail inequality, this paper focuses on robust analysis of heavy-tailedness properties and inequality in the upper tails of income distribution in Russia, as measured, mainly, by its tail indices. The study is based on recently developed approaches to robust inference on the degree of heavy-tailedness and their implications for the analysis of upper-tail inequality discussed in the paper. Among other results, the paper provides robust estimates of heavy-tailedness parameters and tail indices for Russian income distribution and their comparisons with the benchmark values in developed economies reported in the previous literature. The estimates point out to important similarity between heavy-tailedness properties of income distribution and their implications for the analysis of upper-tail income inequality in Russia and those in developed markets.
Date Issued
2017-04-12
Date Acceptance
2016-12-06
Citation
Empirical Economics, 2017, 54 (2), pp.823-837
ISSN
0377-7332
Publisher
Springer Verlag
Start Page
823
End Page
837
Journal / Book Title
Empirical Economics
Volume
54
Issue
2
Copyright Statement
© 2017 The Author(s). This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
License URL
Subjects
Social Sciences
Economics
Social Sciences, Mathematical Methods
Business & Economics
Mathematical Methods In Social Sciences
Income distribution
Inequality
Heavy-tailedness
Power laws
Pareto distributions
Upper tails
Upper-tail inequality
Global inequality
Russia
Post-Soviet economies
Transition economies
Emerging economies
INCOME-DISTRIBUTION
UNITED-STATES
Publication Status
Published
Date Publish Online
2017-04-12