Search

Household income is one of the most important economic categories depending on various factors, in particular on the level of education of the head of the household. Salaries are treated as the market valuation of graduates made by employers. Hence, the question arises of how the education system affects the distribution of household income, in particular in the group of people with higher education.

Research background: Studies of income distributions may focus on describing empirical distributions by theoretical models. This approach can be useful for many reasons. When choosing a statistical model, it is important both to find out a theoretical distribution function that would characterize empirical frequency distribution and to choose suitable methods to calculate the parameters of the model. In the literature, there are proposals for various types of mathematical functions. Very high accuracy with empirical distribution is characteristic for Dagum and log-normal models. In 2010 Zenga proposed a new three-parameter model for economic size distribution which possesses interesting statistical properties.

Research background: A lot of research has been directed at describing empirical distributions by using a theoretical model. In the literature there are proposals for various types of mathematical functions. In 2010 Zenga proposed a new three-parameter model for economic size distribution which possesses interesting statistical properties which can be used to model income, wealth and financial variables.