simulation study. We illustrate the applicability of our proposed index to analyze the income data of Hong Kong and compare … different distributions.To circumvent the above limitations, this paper proposes a new index which can make comparison between … any groups with different income level, for example, the richest group and the poorest group. The new index provides …

Using the Big Mac Index, we offer a simple measure to study the real income inequality. We provide a multidimensional …