Long-run Behavior of Macroeconomic Models with Heterogeneous Agents: Asymptotic Behavior of One- and Two-Parameter Poisson-Dirichlet Distributions
نویسنده
چکیده
This paper discusses asymptotic behavior of oneand two-parameter PoissonDirichlet models, that is, Ewens models and its two parameter extensions by Pitman, and show that their asymptotic behavior are very different. The paper shows asymptotic properties of a class of oneand twoparameter Poisson-Dirichlet distribution models are drastically different. Convergence behavior is expressed in terms of generalized Mittag-Leffler distributions in the statistics literature. The coefficients of variations of suitably normalized number of clusters and of clusters of specific sizes do not vanish in the two-parameter version, but they do in one-parameter Ewens models.
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