摘要：Inequity in wealth and income distributions is ubiquitous and persistent in markets economies. Economists have long suspected that this might be due to the workings of a power law. But studies in financial economics have focused mainly on tail exponent while attempting to recover the Pareto and Zipf’s laws. The estimation of tail exponents from log-log plots, as in stock market returns, produces biased estimators and has little impact on policy. This paper argues that economic time series are output signals of a multifractal proces s driven by strange attractors. Consequently, estimating noise spectra thrown-up by strange attractors stand s to produce a much richer set of information, including the lower and upper bounds of unequal income distribution.
