This paper explores the statistical properties of household consumption-expenditure budget share distributions defined as the share of household total expenditure spent for purchasing a specific category of commodities for a large sample of Italian households in the period 1989-2004. We find...

Recent empirical findings suggest that macroeconomic variables are seldom normally dis- tributed. For example, the distributions of aggregate output growth-rate time series of many OECD countries are well approximated by symmetric exponential-power (EP) den- sities, with Laplace fat tails. In...

This paper explores the statistical properties of household consumption-expenditure budget shares distributions (HBSDs) defined as the share of household total expenditure spent for purchasing a specific category of commodities for a large sample of Italian households in the period 1989-2004. We...

Recent empirical findings suggest that macroeconomic variables are seldom normally distributed. For example, the distributions of aggregate output growth-rate time series of many OECD countries are well approximated by symmetric exponential-power (EP) densities, with Laplace fat tails. In this...

This paper explores the statistical properties of household consumption-expenditure budget shares distributions (HBSDs) - defined as the share of household total expenditure spent for purchasing a specific category of commodities - for a large sample of Italian households in the period...

This work explores some distributional properties of aggregate output growth-rate time series. We show that, in the majority of OECD countries, output growth-rate distributions are well-approximated by symmetric exponential-power densities with tails much fatter than those of a Gaussian. Fat...