Median and mean income analyses ‐ Their implications for material living standards and national well‐being
AbstractSummaryThis paper argues that median income analysis should be used to complement mean income analysis because median analysis gives a better indication of the level of economic well‐being of the ‘typical’ household. Since the income distribution is positively skewed, mean analysis is influenced by extreme observations at the top end of the distribution, resulting in the mean exceeding the median. The paper shows that micro (household) data gives a better indication of national economic well‐being than macro (National Accounts) data. It argues that final household income may be a preferable income variable for assessing material well‐being because it includes all earned income and benefits paid in kind.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Palgrave Macmillan in its journal Economic & Labour Market Review.
Volume (Year): 5 (2011)
Issue (Month): 2 (February)
Contact details of provider:
Web page: http://www.palgrave-journals.com/
Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Elizabeth Gale).
If references are entirely missing, you can add them using this form.