Dynamics of income distribution /

This book, essentially a synthesis of the author's work on income distribution, is drawn from articles Creedy published previously in various journals. The major argument for the dynamic analysis of income distribution is that static and comparative static analysis do not account for changes in an individual's relative income position. Thus, static measures of inequality are viewed as deficient. A society with little static inequality may, in fact, provide for little mobility, and such a society would by no means be necessarily preferred to one with substantial static inequality, but also characterized by substantial egalitarian mobility. Creedy develops methods for analyzing life-cycle considerations with respect to income distribution and relates them to tax policies designed to redress income inequality. The presentation is mathematically rigorous, yet accompanied by straightforward explanations of the implications of his mathematical derivations. Nevertheless, full access to this book requires that the reader be conversant with mathematical statistics-and, on occasion, with the French language. Topical bibliographies accompany each chapter. Highly recommended for graduate collections.-R.A. Kelly, Fairfield University