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Sensitivity of inequality measures to extreme values

Cowell, Frank and Flachaire, Emmanuel (2002) Sensitivity of inequality measures to extreme values. Distributional Analysis Research Programme; DARP 60, 60. Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science, London.

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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.

Item Type: Monograph (Discussion Paper)
Official URL: http://sticerd.lse.ac.uk
Additional Information: © 2002 Frank A. Cowell and Emmanuel Flachaire
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System: C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods: General
D - Microeconomics > D6 - Welfare Economics > D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Sets: Collections > Economists Online
Departments > Economics
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Research centres and groups > Centre for Analysis of Social Exclusion (CASE)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 60
Date Deposited: 27 Apr 2007
URL: http://eprints.lse.ac.uk/2213/

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