Lorenz curve

Lorenze Curve The Lorenz curve originated from the early part of the twentiteth century when Max Otto Lorenz published a paper in 1905 in an American statistical journal outlining the technique which was to bear his name. However, it was the work on poverty and income inequality by Sir Tony Atkinson during the 1970s that led to the popular dissemination and development of the original work of Lorenz. The Lorenz curve can be explained as an extension of the ogive that is used in economics to show

The Lorenz is a curve that demonstrates the variation of the distribution of income from a level of perfect equality. An example of such the Lorenz curve is presented in Figure A-1. In Figure A-1, Point A shows that the bottom 80% of the households earned a 56.3% of total income in 1980. Point B shows that the share of the total income going to the bottom 80% of the households happened to be lower in 2012 than it was in 1980. The Lorenz curve would be a straight line only

of households into five equal groups or quintiles and to compare it with the percentage of personal income. The Lorenz Curve is a way to display the quintile distribution. In a graph showing the Lorenz curve, there is one straight, up-sloping diagonal line that represents a perfectly equal distribution of income, and a second curve of the actual quintile data that becomes the Lorenz curve. The space in between the two lines represents the amount of income inequality there is. This information can then

Income inequality is assessed by using “Gini coefficient” (Gini, 1909) and it is one of the commonly used measurement tools across the globe. The Gini coefficient is normally explained by using Lorenz curve where the income of individuals are arranged from the lowest income level to the highest income level (Lorenz, 1905). A Gini coefficient with zero means perfect equality, whistle one or 100 percent means maximum inequality (Rogerson, 2013) . Based on income inequality measurement tool; Gini coefficient

Microeconomics: Income Inequity in the United States No matter which country you would look into whether it’s from wealthier to those less wealthy countries through the eyes of economics, there are bound to be types of inequity within their borders. Inequity is a very crucial problem in the United States, you would think that our economy here in the states is booming, and the citizens are living life easy or without worry. Life is the United States isn’t as it seems, in fact, Inequity is in fact

Income inequality Name Date Abstract In any given population, there is a difference between what people within the population earn. The uneven distribution of income in any given population is income inequality. In order for there to be income, there has to be several sources of income. These sources of income may be combinational or independent per person receiving the income. Income may result from wages, rent, bank account interests, salaries or even profits made in business transactions

Introduction Hepatitis C is an inflammatory condition of the liver that ultimately results in cirrhosis consequently leading up to liver cell cancer due to a blood-borne virus. The infection is usually asymptomatic showing how those who are infected with Hepatitis C are unaware of its presence until the condition has become potentially life-threatening. The main ways in which the virus is transmitted is from the transfusion of unscreened blood, improper sterilization of invasive medical devices

company or country. Income and wealth inequality refers to the degree to which income is unevenly distributed among people in an economy. The share of total income received by different groups measures inequality, this visually represented in the Lorenz curve. The line of perfect equality bisects the graph with the percentage of income

No matter which country you would look into whether it’s from wealthier to those less wealthy countries through the eyes of economics, there are bound to be types of inequity within their borders. Inequity is a very crucial problem in the United States, you would think that our economy here in the states is booming, and the citizens are living life easy or without worry. Life is the United States isn’t as it seems, in fact, Inequity is in fact a big problem even in the United States. Over the years

benefits and $28.9 billion (32%) benefits-in-kind (welfare services). Spending on welfare services in 2005-06 was 3.0% of GDP or $1,404 per person (Welfare, 2011). The way in which governments can examine inequality is through the use of a Lorenz curve. This Lorenz curve indicates that