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- W83925104 abstract "The cross-sectional distribution of consumption is commonly approximated by the lognormal distribution. This note shows that consumption is better described by the emph{double Pareto-lognormal distribution} (dPlN), which has a lognormal body with two Pareto tails and arises as the stationary distribution in recently proposed dynamic general equilibrium models. dPlN outperforms other parametric distributions and is often not rejected by goodness-of-fit tests. The analytical tractability and parsimony of dPlN may be convenient for various economic applications." @default.
- W83925104 created "2016-06-24" @default.
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- W83925104 date "2014-01-01" @default.
- W83925104 modified "2023-09-27" @default.
- W83925104 title "Consumption Has Heavier Tails than You Think: The Double Pareto-Lognormal Stands Out" @default.
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- W83925104 doi "https://doi.org/10.2139/ssrn.2540741" @default.
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