Sensitivity of Inequality Measures to Extreme Values
AbstractWe examine the sensitivity of estimates and inequality indices to extreme values, in the sense of their robustness properties and of their statistical performance. We establish that these measures are very sensitive to the properties of the income distribution. Estimation and inference can be dramatically affected, especially when the tail of the income distribution is heavy.
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Bibliographic InfoPaper provided by Suntory and Toyota International Centres for Economics and Related Disciplines, LSE in its series STICERD - Distributional Analysis Research Programme Papers with number 60.
Date of creation: Mar 2002
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Inequality measures; statistical performance; robustness.;
Other versions of this item:
- Frank Cowell & Emmanuel Flachaire, 2002. "Sensitivity of inequality measures to extreme values," LSE Research Online Documents on Economics 2213, London School of Economics and Political Science, LSE Library.
- C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-10-28 (All new papers)
- NEP-LAB-2003-10-28 (Labour Economics)
- NEP-LTV-2003-10-28 (Unemployment, Inequality & Poverty)
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