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Following a methodology proposed by Jantzen and Volpert (2012), we use IRS Adjusted Gross Income (AGI) data for the United States (1921-2012) to estimate two Gini-like indices representing inequality at the bottom and the top of the income distribution. We also calculate the overall Gini index...
Persistent link: https://www.econbiz.de/10010513028
Using newly comprehensive data and tools from the Global Consumption and Income Project or CGIP, covering most of the world and five decades, we present a portrait of the changing global distribution of consumption and income and discuss its implications for our understanding of inequality,...
Persistent link: https://www.econbiz.de/10010516222
Index of refraction is found to be a good measure of economic inequality within the Lorenz curve framework. It has origin in geometrical optics, where it measures bending of a ray of light passing from one transparent medium into another. As light refracts according to characteristics of...
Persistent link: https://www.econbiz.de/10010531645
An ideal state of development, when viewed with fantasy, is nothing but a state or condition where light touches everybody without refraction. The diagonal line of the Lorenz Curve Framework represents such an ideal condition. In the presence of inequality, however, it deviates or refracts from...
Persistent link: https://www.econbiz.de/10010531656
Standard economic theory assumes that individual risk taking decisions are independent from the social context. Recent experimental evidence however shows that the income of peers has a systematic impact on observed degrees of risk aversion. In particular, subjects strive for balance in the...
Persistent link: https://www.econbiz.de/10011279521
The relationship between the abundance of natural resources and socio-economic performance has been a main object of study in the economic development field since Adam Smith. Dominated by the verification of the so called curse of natural resource, the mainstream literature on the topic has been...
Persistent link: https://www.econbiz.de/10011314151
In this paper the causal effects of socioeconomic status, in particular income, on individuals health in the European Union are analysed. We focus on the relationship between income and health. Finally, an international comparison of concentration indices for socioeconomic inequality in health...
Persistent link: https://www.econbiz.de/10011318848
As a proxy for a Pareto-efficient market economy, we adopt the two-party Nash Bargaining model featuring a qualitative bias in the treatment of the contributions of the parties. The Piketty inequality here is the share in total welfare accruing to the richer party over total welfare attained at...
Persistent link: https://www.econbiz.de/10011335576
Research into multidimensional poverty has gathered momentum in the last half decade, most notably in the aftermath of the global food and financial crises of 2007-2008. It has gained further momentum since the UNDP-OPHI launched the 2010 Human Development Report (HDR) and more recently as part...
Persistent link: https://www.econbiz.de/10011335894
What has happened to inequality between and within countries since 1990? In this paper we explore who have been the winners and losers from global growth since 1990. We find that falls in total global inequality in the last 30 years are predominantly attributable to rising prosperity in China....
Persistent link: https://www.econbiz.de/10011335897