Review:
Income Inequality Measures
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
Income inequality measures refer to the various statistical metrics used to quantify the disparity in income distribution within a population.
Key Features
- Gini coefficient
- Theil Index
- Palma ratio
- Median household income
Pros
- Helps identify disparities in income distribution
- Can be used to track changes in income inequality over time
- Provides a basis for policy interventions to address inequality
Cons
- May oversimplify the complexity of income distribution
- Does not capture all dimensions of economic inequality