Measuring middle-class decline in one and many attributes
AbstractA new multivariate approach is introduced to identify the middle class of a society and to measure its possible decline. The middle class is a properly defined central region in attribute space that contains a fixed portion of the population. The decline of the middle class is measured by comparing the dispersion of the middle class. The use of minimum volume ellipsoids and different notions of central regions is discussed in one and several dimensions. An empirical illustration is given using German data on income and wealth.
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Bibliographic InfoPaper provided by Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali in its series Working Papers with number 333.
Date of creation: Nov 2009
Date of revision:
EVS; German Sample Survey of Income and Expen; central region; middle class; minimum volume ellipsoid; zonoid region;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-07 (All new papers)
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