Modeling Income Data via New Parametric Quantile Regressions: Formulation, Computational Statistics, and Application

Income modeling is crucial in determining workers’ earnings and is an important research topic in labor economics. Traditional regressions based on normal distributions are statistical models widely applied. However, income data have an asymmetric behavior and are best modeled by non-normal distributions. The objective of this work is to propose parametric quantile regressions based on two asymmetric income distributions: Dagum and …