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Inequality

Inequality. Inequality. Household income thresholds for selected percentiles (U.S. 2006) 10 th percentile? 25 th percentile? 50 th percentile? 75 th percentile? 90 th percentile? 98 th percentile? 99 th percentile? So what does this suggest income distribution looks like?.

austin-chaney
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Inequality

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  1. Inequality

  2. Inequality • Household income thresholds for selected percentiles (U.S. 2006) • 10th percentile? • 25th percentile? • 50th percentile? • 75th percentile? • 90th percentile? • 98th percentile? • 99th percentile? • So what does this suggest income distribution looks like?

  3. Inequality • Measuring Inequality Using Lorenz Curve • Suppose we divided population into 5 income quintiles, where everyone in a higher quintile earns at least as much as highest earner in lower quintile. • Then, we graph the cumulative share of income on the cumulative share of households. • Suppose there was perfect income equality, what would Lorenz curve look like? • What would Lorenz Curve look like for distribution below? • So how does Lorenz Curve change as inequality increases?

  4. Inequality • Measuring Inequality (cont.) • What is the Gini Coefficient? • What are 90-10 and 50-10 wage gaps?

  5. Inequality • Measuring Inequality (cont.)

  6. Inequality • International Comparisons

  7. Inequality • Measuring Inequality (cont.) • What does Saez article “Striking it Richer….” describe?

  8. Inequality • Measuring Inequality (cont.)

  9. Inequality • Measuring Inequality (cont.)

  10. Inequality • Measuring Inequality (cont.)

  11. Inequality • Measuring Inequality (cont.)

  12. Inequality • Why did Inequality increase?

  13. Inequality • Why did skill premium increase?

  14. Inequality

  15. Inequality • Why should we care about inequality?

  16. Inequality • Frank (1997) • What is his essential argument?

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