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Sensitivity of Inequality Measures to Extreme Values

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Author Info
Frank A Cowell
Emmanuel Flachaire

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Abstract

We 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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Paper 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.

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Date of creation: Mar 2002
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Handle: RePEc:cep:stidar:60

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Keywords: Inequality measures; statistical performance; robustness.;

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  1. Russell Davidson & Emmanuel Flachaire, 2004. "Asymptotic and bootstrap inference for inequality and poverty measures," Cahiers de la Maison des Sciences Economiques v04100, Université Panthéon-Sorbonne (Paris 1). [Downloadable!]
    Other versions:
  2. Traub, Stefan & Seidl, Christian & Schmidt, Ulrich & Levati, Maria Vittoria, 2003. "Friedman, Harsanyi, Rawls, Boulding - or Somebody Else?," Economics Working Papers 2003,03, Christian-Albrechts-University of Kiel, Department of Economics. [Downloadable!]
  3. Stefan Traub & Christian Seidl & Ulrich Schmidt & M. Vittoria Levati, . "Friedman, Harsanyi, Rawls, Boulding - Or Somebody Else? An Experimental Investigation of Distributive Justice," Papers on Strategic Interaction 2003-19, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
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  4. Frank A Cowell & Carlo V. Fiorio, 2006. "Rethinking Inequality Decomposition:Comment," STICERD - Distributional Analysis Research Programme Papers 82, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
  5. Santiago Álvarez-García & Juan Prieto-Rodríguez & Rafael Salas, 2004. "The evolution of income inequality in the European Union during the period 1993-1996," Applied Economics, Taylor and Francis Journals, vol. 36(13), pages 1399-1408, July. [Downloadable!] (restricted)
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