Power Law Scaling in World Income Distribution

Di Guilmi, C; Gaffeo, E; Gallegati, M

Power Law Scaling in World Income Distribution

Di Guilmi, C

Gaffeo, E Gallegati, M

Permalink

Publisher:: Vanberbilt University
Publication Type:: Journal Article
Citation:: Economics Bulletin, 2003, 15 (6), pp. 1 - 7
Issue Date:: 2003-01

Open Access

Copyright Clearance Process

Recently Added
In Progress
Open Access

This item is open access.

Adobe PDF

Download full textAdobe PDF (166.88 kB)

View statistics

Full metadata record

Field	Value	Language
dc.contributor.author	Di Guilmi, C https://orcid.org/0000-0001-7786-039X	en_US
dc.contributor.author	Gaffeo, E	en_US
dc.contributor.author	Gallegati, M	en_US
dc.date.issued	2003-01	en_US
dc.identifier.citation	Economics Bulletin, 2003, 15 (6), pp. 1 - 7	en_US
dc.identifier.issn	1545-2921	en_US
dc.identifier.uri	http://hdl.handle.net/10453/9990
dc.description.abstract	We show that over the period 1960-1997, the range comprised between the 30th and the 85th percentiles of the world income distribution expressed in terms of GDP per capita invariably scales down as a Pareto distribution. Furthermore, the time path of the power law exponent displays a negatively sloped trend. Our findings suggest that the cross-country average growth process appears to be scale invariant but for countries in the tails of the world income distribution, and that the relative volatility of smaller countries' growth processes have increased over time.	en_US
dc.publisher	Vanberbilt University	en_US
dc.relation.ispartof	Economics Bulletin	en_US
dc.subject.classification	Economics	en_US
dc.title	Power Law Scaling in World Income Distribution	en_US
dc.type	Journal Article
utslib.citation.volume	6	en_US
utslib.citation.volume	15	en_US
utslib.for	149999 Economics not elsewhere classified	en_US
utslib.for	149903 Heterodox Economics	en_US
utslib.for	14 Economics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Economics Discipline
utslib.copyright.status	open_access
pubs.consider-herdc	false	en_US
pubs.issue	6	en_US
pubs.volume	15	en_US

Abstract:

We show that over the period 1960-1997, the range comprised between the 30th and the 85th percentiles of the world income distribution expressed in terms of GDP per capita invariably scales down as a Pareto distribution. Furthermore, the time path of the power law exponent displays a negatively sloped trend. Our findings suggest that the cross-country average growth process appears to be scale invariant but for countries in the tails of the world income distribution, and that the relative volatility of smaller countries' growth processes have increased over time.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/9990