Income and wealth distribution of Norwegian households

Kordian Czyżewski 1Maciej Jagielski 1,2Ryszard Kutner 1

1. Uniwersytet Warszawski, Wydział Fizyki, ul. Pasteura 5, Warszawa 02-093, Poland
2. Center for Polymer Studies and Department of Physics, Boston University, 590 Commonwealth Ave, Boston, MA 02215, United States


We present the analysis of the annual income and wealth of the richest Norwegian households in years 2010-2013.  We show that both annual income as well as wealth of the richest households are described by Pareto law. At the outset, we present a short theoretical introduction. Then we discuss empirical results. It is worth noting that the data used in the analysis come directly from the Norwegian tax office. In conclusions we particularly focus on agreement  of empirical data with the model and on the links between the distributions of income and wealth.


Related papers
  1. Is Implied Volatility based mostly on recent price activity?
  2. Inter-transaction times and long memory of financial time series
  3. Intraday correlation structure for high frequency financial data
  4. Analysis of times between events by methods of statistical physics
  5. Fractional Market Model and its Verification on the Warsaw Stock Exchange
  6. Bose-Einstein condensation shown by Monte Carlo simulation
  7. Remarks on the possible universal mechanism of the non-linear long-term autocorrelations in financial time-series
  8. Random walk on a linear chain with a quenched distribution of jump lengths
  9. Modified Fermi-Dirac Statistics of Fermionic Lattice Gas by the Back-Jump Correlations
  10. Thermal neutron scattering from the hydrogen-metal systems in terms of general multi-sublattice jump diffusion model - II: Remarks on hydrogen diffusion in the α-phase of Nb-H
  11. Simple molecular mechanisms of heat transfer: Debye relaxation versus power-law
  12. Stock market context of the Lévy walks with varying velocity
  13. Tracer diffusion on two coupled lines: The long-time tail of the velocity autocorrelation function compared to the mode-coupling prediction
  14. Distribution for Fermionic Discrete Lattice Gas within the Canonical Ensemble
  15. Monte Carlo Simulations of Lattice Gases Exhibiting Quantum Statistical Distributions
  16. Modeling of super-extreme events: An application to the hierarchical Weierstrass-Mandelbrot Continuous-time Random Walk
  17. Biased random walk on a biased random walk
  18. Possible origin of the non-linear long-term autocorrelations within the Gaussian regime
  19. Applications of statistical mechanics to non-brownian random motion
  20. Real-time numerical simulation of the Carnot cycle
  21. Quantum statistics and discreteness. Differences between the canonical and grand canonical ensembles for a fermionic lattice gas
  22. Tracer diffusion in honey-comb lattice correlations over several consecutive jumps
  23. Spatio–temporal coupling in the continuous-time Lévy flights
  24. Determination of the chemical diffusion coefficient by Monte Carlo simulation of the center-of-mass propagation
  25. Tracer Diffusion in Concentrated Lattice Gas Models. Rectangular Lattices with Anisotropic Jump Rates
  26. Study of the non-linear autocorrelations within the Gaussian regime
  27. Anomalous transport and diffusion versus extreme value theory
  28. Diffusion in concentrated lattice gases: Intermediate incoherent dynamical scattering function for tagged particles on a square lattice
  29. Modeling of income distribution in the European Union with the Fokker-Planck equation
  30. Susceptibility and transport coefficient in a transient state on a one-dimensional lattice. I. Extended linear response and diffusion
  31. Report on Foundation and Organization of Econophysics Graduate Courses at Faculty of Physics of University of Warsaw and Department of Physics and Astronomy of the Wrocław University
  32. Dynamic structural and topological phase transitions on the Warsaw Stock Exchange: A phenomenological approach
  33. Higher-order analysis within Weierstrass hierarchical walks
  34. Correlated hopping in honeycomb lattice: tracer diffusion coefficient at arbitrary lattice gas concentration
  35. Diffusion in one-dimensional bosonic lattice gas
  36. Structural and topological phase transitions on the German Stock Exchange 
  37. Hierarchical spatio-temporal coupling in fractional wanderings. (I) Continuous-time Weierstrass flights
  38. Thermal neutron scattering from a hydrogen-metal system in terms of a general multi-sublattice jump diffusion model—I: Theory
  39. Random walk on a random walk
  40. Diffusion in concentrated lattice gases. VI. Tracer diffusion on two coupled linear chains
  41. Comparative Analysis of Income Distributions in the European Union and the United States
  42. Excess Noise for Driven Diffusive Systems
  43. Diffusion in concentrated lattice gases. III. Tracer diffusion on a one-dimensional lattice
  44. Chemical diffusion in the lattice gas of non-interacting particles
  45. Diffusion in concentrated lattice gases. Self-diffusion of noninteracting particles in three-dimensional lattices
  46. Diffusion in concentrated lattice gases. II. Particles with attractive nearest-neighbor interaction on three-dimensional lattices
  47. Anomalous Diffusion: From Basics to Applications
  48. Mean square displacement of a tracer particle in a hard-core lattice gas
  49. Diffusion in concentrated lattice gases IV. Diffusion coefficient of tracer particle with different jump rate
  50. Diffusion in concentrated lattice gases. V. Particles with repulsive nearest-neighbor interaction on the face-centered-cubic lattice
  51. Stochastic simulations of time series within Weierstrass–Mandelbrot walks
  52. Income distribution in the European Union versus in the United States
  53. Universality of market superstatistics
  54. Dynamic bifurcations on financial markets
  55. Higher-order phase transitions on financial markets
  56. Temporal condensation and dynamic λ-transition within the complex network: an application to real-life market evolution
  57. Backward jump continuous-time random walk: An application to market trading
  58. Universality of market superstatistics. Superscaling
  59. Rozmowa o Ekonofizycje - Akademickie Radio Kampus
  60. Modeling of large claims in a non-life insurance company
  61. Correlations and dependencies in high-frequency stock market data
  62. Continuous-Time Random Walk models with memory. An application to description of market dynamics
  63. Superextreme Events and Their Impact on Characteristics of Time Series
  64. The role of driving parameters of the three-state Ising model on the stability of the reconstruction of financial market phenomena
  65. Analysis of leptokurtosis in model distributions and simulated noises
  66. Application of the MST technique to the analysis of cross-correlations in the Warsaw Stock Exchang.
  67. Modelling of annual European Union household incomes by using an equilibrium solution of the threshold Fokker-Planck equation
  68. Catastrophic bifurcations on financial markets
  69. Badanie zamożności gospodarstw domowych w Polsce metodami egzotycznej i tradycyjnej fizyki statystycznej.
  70. Asymmetric noises on a stock exchange.
  71. Influence of super-extreme events on a Weierstrass-Mandelbrot Continuous-Time Random Walk
  72. Non-Gaussian statistics on the Forex
  73. Backward jump Continuous-Time Random Walk on a stock market. What is the true origin of the autocorrelation on the market?
  74. Study of  households' income  in Poland and European Union by using the statistical physics approach
  75. The non-gaussian continuous-time random walk analisys of the option dynamics
  76. Share price movements as non-independent continuous-time random walk
  77. Problem of rare events in modelling of the financial state of insurance company
  78. Study of households' income in Poland by using the statistical physics approach
  79. News from application of the Mittag-Leffler function to house and financial markets
  80. Anomalous left-sided multifractal structure of intertransation time-intervals and the possible third-order phase transition on financial market
  81. Model of the fractional viscoelastic market
  82. Multifractality within the continuous-time random walk in financial markets
  83. Fractional Market Model and its verification on stock markets of small size
  84. Econophysics on Faculty of Physics at Warsaw University
  85. Dynamics of the Warsaw Stock Exchange index as analysed by the fractional relaxation equation
  86. Non-linear long-term autocorrelations present in empirical and synthetic high-frequency financial time-series. Possibility of risk classification

Presentation: Poster at 8 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych", by Maciej Jagielski
See On-line Journal of 8 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych"

Submitted: 2015-08-29 02:45
Revised:   2015-09-02 19:13