| Literature DB >> 34209058 |
Zdzislaw Burda1, Malgorzata J Krawczyk1, Krzysztof Malarz1, Malgorzata Snarska2.
Abstract
We study wealth rank correlations in a simple model of macroeconomy. To quantify rank correlations between wealth rankings at different times, we use Kendall's τ and Spearman's ρ, Goodman-Kruskal's γ, and the lists' overlap ratio. We show that the dynamics of wealth flow and the speed of reshuffling in the ranking list depend on parameters of the model controlling the wealth exchange rate and the wealth growth volatility. As an example of the rheology of wealth in real data, we analyze the lists of the richest people in Poland, Germany, the USA and the world.Entities:
Keywords: Bouchaud–Mézard model; Gini coefficient; rank correlations; wealth distribution; wealth inequality
Year: 2021 PMID: 34209058 DOI: 10.3390/e23070842
Source DB: PubMed Journal: Entropy (Basel) ISSN: 1099-4300 Impact factor: 2.524