1. Income and wealth distribution of the richest Norwegian individuals: An inequality analysis
- Author
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H. Eugene Stanley, Kordian Czyżewski, Ryszard Kutner, and M. Jagielski
- Subjects
Statistics and Probability ,Physics - Physics and Society ,Inequality ,media_common.quotation_subject ,Distribution (economics) ,FOS: Physical sciences ,Norwegian ,Physics and Society (physics.soc-ph) ,01 natural sciences ,010305 fluids & plasmas ,FOS: Economics and business ,Income distribution ,0103 physical sciences ,Economics ,010306 general physics ,media_common ,business.industry ,Pareto principle ,Condensed Matter Physics ,language.human_language ,Income inequality metrics ,language ,Pareto law ,Demographic economics ,Redistribution of income and wealth ,business ,General Finance (q-fin.GN) ,Quantitative Finance - General Finance - Abstract
Using the empirical data from the Norwegian Tax Administration, we analyze the wealth and income of the richest individuals in Norway during the period 2010–2013. We find that both annual income and wealth level of the richest individuals are describable using the Pareto law. We find that the robust mean Pareto exponent over the four-year period to be ≈2.3 for income and ≈1.5 for wealth.
- Published
- 2016