Search results
Results from the WOW.Com Content Network
Income inequality and income mobility trends have been different for men and women workers between 1937 and the 2000s. When men and women are considered together, the Gini coefficient-based Shorrocks index trends imply long-term income inequality has been substantially reduced among all workers, in recent decades for the United States. [67]
The "Great Gatsby Curve" is the term given to the positive empirical relationship between cross-sectional income inequality and persistence of income across generations. [1] The scatter plot shows a correlation between income inequality in a country and intergenerational income mobility (the potential for its citizens to achieve upward mobility).
The sign of the covariance, therefore, shows the tendency in the linear relationship between the variables. If greater values of one variable mainly correspond with greater values of the other variable, and the same holds for lesser values (that is, the variables tend to show similar behavior), the covariance is positive. [ 2 ]
The curve is a graph showing the proportion of overall income or wealth assumed by the bottom x% of the people, although this is not rigorously true for a finite population (see below). It is often used to represent income distribution, where it shows for the bottom x% of households, what percentage (y%) of the total
The inequality income metric should be independent of the aggregate level of income. This may be stated as: = where α is a positive real number. Population independence Similarly, the income inequality metric should not depend on whether an economy has a large or small population.
The US household income Gini of 46.8 in 2009 [197] varied significantly between states: after-tax income inequality in 2009 was greatest in Texas and lowest in Maine. [198] Income inequality grew from 2005 to 2012 in more than 2 out of 3 metropolitan areas. [199]
The pandemic induced a significant economic toll on Americans, per a recent report, which indicated income inequality increased by 1.2% — as measured by the so-called Gini index — between 2020 ...
While pre-tax income is the primary driver of income inequality, the less progressive tax code further increased the share of after-tax income going to the highest income groups. For example, had these tax changes not occurred, the after-tax income share of the top 0.1% would have been approximately 4.5% in 2000 instead of the 7.3% actual figure.