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2015 | 25 | nr 2 | 19--34
Tytuł artykułu

A Theoretical Framework for Determining the Appropriate Level of Subsidy in Economy

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
A framework has been developed for determining the subsidy that, in the long run, serves to equalize the per capita income shares across income classes. The framework characterizes the income dynamics by the Markov process and uses the principle of maximum entropy for selecting among alternative subsidy schemes. The study provides a means to forecast the per capita income shares at any instant of time and serves as an objective tool to decide on the appropriate level of subsidy. (original abstract)
Słowa kluczowe
Rocznik
Tom
25
Numer
Strony
19--34
Opis fizyczny
Twórcy
  • University of Benin, Benin City, Nigeria
  • University of Benin, Benin City, Nigeria
Bibliografia
  • [1] BAKARE A.S., Measuring the income inequality in Nigeria: the Lorenz curve and Gini coefficient approach, American Journal of Economics, 2012, 2 (1), 47-52.
  • [2] BOADWAY R., MARCHAND M., SATO M., Subsidies versus public provision of private goods as instruments for redistribution, The Scandinavian Journal of Economics, 1998, 100 (3), 545-564.
  • [3] BOADWAY R.W., WILDASIN D.E., Optimal tax-subsidy policies for industrial adjustment to uncertain shocks, Oxford Economic Papers, 1990, 42 (1), 105-134.
  • [4] BRESSLER B., The measurement of income inequality revisited, Review of Social Economy, 1978, 36 (2), 212-216.
  • [5] CAPPELLARI L., JENKINS S.P., Modelling low income transitions, Journal of Applied Econometrics, 2004, 19 (5), 593-610.
  • [6] CHAKRAVARTY S.R., An axiomatisation of the entropy measure of inequality, Sankhya: The Indian Journal of Statistics, Series B, 1982, 44 (3), 351-354.
  • [7] ESTEBAN J., Income-share elasticity and the size distribution of income, International Economic Review, 1986, 27 (2), 439-444.
  • [8] EKHOSUEHI V.U., OSAGIEDE A.A., The entropy-theoretic stability index for manpower systems, International Journal of Operations Research, 2012, 9 (3), 120-128.
  • [9] IBE O.C., Markov processes for stochastic modelling, Elsevier Academic Press, Burlington 2009.
  • [10] IYOHA M.A., Macroeconomics: Theory and policy, revised ed., Mindex Publishing, Benin City 2004.
  • [11] JANA P., MAZUMDER S.K., DAS N.C., Optimal taxation policy maximum entropy approach, Yugoslav Journal of Operations Research, 2003, 13 (1), 95-105.
  • [12] KUZNETS S., Economic growth and income inequality, The American Economic Review, 1955, 45 (1), 1-28.
  • [13] LEVINE D.B., SINGER N.M., The mathematical relation between the income density function and the measurement of income inequality, Econometrica, 1970, 38 (2), 324-330.
  • [14] LILLARD L.A., WILLIS R.J., Dynamic aspects of earning mobility, Econometrica, 1978, 46 (5), 985-1012.
  • [15] MCCALL J.J., A Markovian model of income dynamics, Journal of the American Statistical Association, 1971, 66 (335), 439-447.
  • [16] MCCLEAN S., ABODUNDE T., Entropy as a measure of stability in manpower system, Journal of Operational Research Society, 1978, 29 (9), 885-889.
  • [17] MUSSARD S., SEYTE F., TERRAZA M., Decomposition of Gini and the generalized entropy inequality measures, Economics Bulletin, 2003, 4 (7), 1-6.
  • [18] NAULT B.R., Equivalence of taxes and subsidies in the control of production externalities, Management Science, 1996, 42 (3), 307-320.
  • [19] REARDON S.F., BISCHOFF K., Income inequality and income segregation, American Journal of Sociology, 2011, 116 (4), 1092-1153.
  • [20] ROTHSCHILD K., Some notes on Weintraub's eclectic theory of income shares, Journal of Post Keynesian Economics, 1985, 7 (4), 575-593.
  • [21] SHARMA J.K., Operations research: theory and applications, 4th Ed., Macmillan Publishers India, Ltd., New Delhi 2009.
  • [22] TUCKMAN H.P., BROSCH G., Changes in personal income and their effect on income shares, Southern Economic Journal, 1974, 41 (1), 78-86.
  • [23] VASSILIOU P.-C.G., Entropy as a measure of the experience distribution in a manpower system, Journal of Operational Research Society, 1984, 35 (11), 1021-1025.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171387791

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