@article{10902/9472,
year = {2015},
month = {7},
url = {http://hdl.handle.net/10902/9472},
abstract = {Previous studies focusing on the intra-distribution dynamics analysis have usually computed, in a Markov chain framework, discrete-time transition matrices. Such an approach, however, can involve some limitations, especially when using stock variables. In order to illustrate the importance of the time-scale issue when estimating transition matrices, this paper applies both discrete and continuoustime approaches to a set of cross-national European data on per capita wealth for the period 2000–10. The results reveal, on the one hand, that the continuous-time estimation provides a most accurate estimation of transition probabilities and, on the other, that the differences between both approaches are especially remarkable in the long-term equilibrium distribution.},
publisher = {Wiley-Blackwell},
publisher = {Bulletin of economic research, Volume 67, Issue 3, 1 July 2015, Pages 227-235},
title = {From discrete to continuous-time transition matrices in intra-distribution dynamics analysis: an application to per capita wealth in europe},
author = {Hierro Franco, María and Maza Fernández, Adolfo Jesús},
}