Income poverty measures with relative poverty lines
Income poverty measures with relative poverty lines
I derive poverty indices taking into account both the absolute and relative aspects of income well-being. The trade-off made by the social planner between those two aspects is captured at individual level by a well-being ordering. This ordering evaluates the well-being of an agent based on her income and a reference statistic on the income distribution, typically the mean. A family of poverty indices respecting the judgements held in the ordering is axiomatically characterized. Then, I study the consequences of requiring the poverty indices to grant a minimal precedence to the absolute over the relative aspect of income well-being. This compelling requirement has strong implications. In particular, the Poverty Gap Ratio is the only index in the popular Foster-Greer-Thorbecke family to satisfy it.
income poverty, poverty gap ratio, relative poverty, absolute poverty, income poverty, poverty gap ratio, absolute poverty, relative poverty
income poverty, poverty gap ratio, relative poverty, absolute poverty, income poverty, poverty gap ratio, absolute poverty, relative poverty
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