Mean and Variance and Their Changes in Economic Development

Wien

2014

14 S.

Bandaufführung

17537

203072

This paper deals with a specific aspect of a specific probability distribution, namely with changes over time in the distribution of macroeconomic growth rates, in other words: with the changes in the distribution of percentage changes in national income. The "normal" probability distribution is fully defined by two parameters: its mean or first mathematical moment and its variance or second moment. At present the empirical distribution of national income percentage changes actually differs slightly from a "normal" distribution,