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Income Inequality

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PPGPortal > Home > Concept Dictionary > I, J > Income Inequality
 

Income Inequality 

Income inequality refers to the unequal distribution of income among a population; this measure is used in the study of societal welfare.

(Feldstein, Martin. 1998. "Income Inequality and Poverty." National Beureau of Economic Research, Working Paper 6770.http://papers.nber.org/paper/w6670.)

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Income inequality refers to the unequal distribution of income among a population; this measure is used in the study of societal welfare. The measure of income inequality is used in the analysis of 'relative' poverty (Feldstein 1998). For example, the incomes of the rich are rising whereas the incomes of the middle class and poor are staying the same (John Myles January 23 2009). This income disparity affects the welfare of those who are in the middle and low end of the income distribution (John Myles January 23 2009).

Factors that may affect income inequality are:

• Changes in the tax transfer system

• Funding in social services

• Changes in family consumption/behaviour (John Myles February 6 2009)

A popular measurement of income inequality is the gini coefficient.

     

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