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@inproceedings{7019,
author = {Marek, Luboš and Vrabec, Michal and Berka, Petr},
address = {Prague},
booktitle = {Applications of Mathematics and Statistics in Economics: 2018: 21th AMSE},
editor = {Hronová, S., Ptáčková, V., Šafr, K. a Vltavská, K.},
keywords = {wage distribution, prediction, model verification},
howpublished = {paměťový nosič},
language = {eng},
location = {Prague},
isbn = {978-80-245-2277-7},
pages = {211-221},
publisher = {Oeconomica Publishing house},
title = {Ex-post verification of prediction models of wage distributions},
year = {2018}
}
TY - JOUR
ID - 7019
AU - Marek, Luboš - Vrabec, Michal - Berka, Petr
PY - 2018
TI - Ex-post verification of prediction models of wage distributions
PB - Oeconomica Publishing house
CY - Prague
SN - 9788024522777
KW - wage distribution, prediction, model verification
N2 - Our paper deals with the ex-post verification of models of wage distributions designed to predict wage distributions in the last three years. We will use the prediction results of Lognormal, Lognormal (3p), Johnson SB, Log-Logistic, Log-Logistic (3p) and Normal Mixture distributions and compare them with the empirical distribution from the period 2015-2017. The selection of the used distributions is based on the wage distribution models for the years 2000-2014. Our results show, that the best (and comparable) results can be obtained using three-parameter Log-logistic distribution and Normal Mixture distribution with two components. These results confirm our expectation that due to the fact, that empirical wage distribution becomes less smooth over time, a mixture model should be preferred for the future.
ER -
MAREK, Luboš, Michal VRABEC and Petr BERKA. Ex-post verification of prediction models of wage distributions. In Hronová, S., Ptáčková, V., Šafr, K. a Vltavská, K. \textit{Applications of Mathematics and Statistics in Economics: 2018: 21th AMSE}. Prague: Oeconomica Publishing house, 2018, p.~211-221. ISBN~978-80-245-2277-7.
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