New method reveals income disparities during economic crises with precision.
A new method was developed to analyze data with a mix of different types of information. Instead of using complex Bayesian methods, this approach uses a simpler maximum likelihood estimation with specific mathematical functions. The method was tested with simulated data and found to work well, even in time series analysis where parameters change over time. In a real-world application using data from a household survey, the method showed how income and household characteristics are related differently for groups affected by economic crises.