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dc.contributor.authorBowen, Harry P.en_US
dc.contributor.authorMunandar, Harisen_US
dc.contributor.authorViaene, Jean-Marieen_US
dc.date.accessioned2006-09-05en_US
dc.date.accessioned2009-07-28T08:12:09Z-
dc.date.available2009-07-28T08:12:09Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/25788-
dc.description.abstractThis paper considers the distribution of output and productive factors among members of a fully integrated economy (FIE). We demonstrate that each member’s shares of total output and of total factors will be equal. This implies that growth in shares is random. If output and factor shares evolve as reflective geometric Brownian motion, then limiting distribution of these shares will exhibit Zipf’s law. Our empirics support Zipf’s law for U.S. states and for E.U. countries. These findings imply that models characterizing growth of members within an FIE should embody a key assumption: growth process of shares is random and homogeneous.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 1743en_US
dc.subject.jelE13en_US
dc.subject.jelF15en_US
dc.subject.jelF21en_US
dc.subject.jelF22en_US
dc.subject.jelO57en_US
dc.subject.ddc330en_US
dc.titleEvidence and implications of Zipf's aw for integrated economiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn51700321Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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