Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/119534 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Memorandum No. 20/2014
Verlag: 
University of Oslo, Department of Economics, Oslo
Zusammenfassung: 
We propose a general framework to unambiguously compare distributions functions in an economically interpretable way. Our framework provides complete ranking of any set of distributions and money metric interpretation of the social welfare level of a dominating distribution as compared to a dominated distribution. We show the usefulness of our framework using two empirical applications; the first assesses the welfare implications of changes in household income distributions over the business cycle, while the second performs a social welfare comparison of the actual and counterfactual outcome distributions from a policy experiment.
Schlagwörter: 
distribution functions
stochastic dominance
social welfare
inequality
JEL: 
D30
D63
I31
Dokumentart: 
Working Paper

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