Why Is Consumption More Log Normal than Income? Gibrat’s Law Revisited
发现家庭消费支出分布比收入分布更接近对数正态，并用吉布拉定律的逻辑解释：该定律适用于永久收入和边际效用，而非总收入。
Significant departures from log normality are observed in income data, in violation of Gibrat's law. We show empirically that the distribution of consumption expenditures across households is, within cohorts, closer to log normal than the distribution of income. We explain this empirical result by showing that the logic of Gibrat's law applies not to total income, but to permanent income and to marginal utility. (c) 2009 by The University of Chicago. All rights reserved.