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Income Inequality Measures
Hanken School of Economics, Helsinki, Finland
- 1 Hanken School of Economics, Helsinki, Finland
Theoretical Economics Letters·Volume 08 (2018)·Pages 557–574·Published 7 February 2018·DOI10.4236/tel.2018.83039
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Abstract
Income distributions are commonly unimodal and skew with a heavy right tail. Different skew models, such as the lognormal and the Pareto, have been proposed as suitable descriptions of income distribution and applied in specific empirical situations. More wide-ranging tools have been introduced as measures for general comparisons. In this study, we review the income analysis methods and apply them to specific Lorenz models.
KeywordsLorenz CurveGini IndexPietra IndexPareto DistributionSimplified Rao-Tam DistributionChotikapanich Distribution
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