Estimation of the Generalised Beta Distribution of the Second
Kind from Grouped Data
Description
Estimation of the generalized beta distribution of the second
kind (GB2) and related models using grouped data in form of income shares.
The GB2 family is a general class of distributions that provides an accurate
fit to income data. 'GB2group' includes functions to estimate the GB2, the
Singh-Maddala, the Dagum, the Beta 2, the Lognormal and the Fisk distributions.
'GB2group' deploys two different econometric strategies to estimate these
parametric distributions, the equally weighted minimum distance (EWMD) estimator and the
optimally weighted minimum distance (OMD) estimator. Asymptotic standard errors are reported for the
OMD estimates. Standard errors of the EWMD estimates are obtained by Monte
Carlo simulation. See Jorda et al. (2018) for a detailed
description of the estimation procedure.