A new Bayesian nonparametric model (NLMFM-C) is proposed to express collections of income densities as mixtures of latent factors with spatial and covariate effects, demonstrated on US PUMS income data from 2016 and 2020.
The density estimates shown in Figure 22 support this interpretation by showing a modest rightward shift in log personal income in 2020 relative to 2016 for both PUMAs
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Modelling spatial heterogeneity in the effects of area-level covariates on income distributions using Bayesian nonparametric methods
A new Bayesian nonparametric model (NLMFM-C) is proposed to express collections of income densities as mixtures of latent factors with spatial and covariate effects, demonstrated on US PUMS income data from 2016 and 2020.