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The Foster–Greer–Thorbecke indices are a family of poverty metrics.The most commonly used index from the family, FGT 2, puts higher weight on the poverty of the poorest individuals, making it a combined measure of poverty and income inequality and a popular choice within development economics.
The first research phase of the Individual Deprivation Measure started in 2009. It was a four-year, international, interdisciplinary research collaboration, led by the Australian National University, in partnership with the International Women's Development Agency and the Philippine Health and Social Science Association, University of Colorado at Boulder, and Oxfam Great Britain (Southern ...
The main poverty line used in the OECD and the European Union is a relative poverty measure based on 60% of the median household income. The United States uses a poverty measure based on pre-tax income and the U.S. Department of Agriculture's "economy food plan" by which 11% of Americans are living in poverty, but this is disputed.
The depth of poverty is the average 'gap' (G) between the level of deprivation poor people experience and the poverty cut-off line. M1 = H x A x G. Adjusted Squared Poverty Gap (M2): This measure reflects the incidence, intensity, and depth of poverty, as well as inequality among the poor (captured by the squared gap, S). M2 = H x A x S.
Relative poverty measurements, unlike absolute poverty measurements, take the social economic environment of the people observed into consideration. It is based on the assumption that whether a person is considered poor depends on her/his income share relative to the income shares of other people who are living in the same economy. [29]
The total increase needed to eliminate poverty is US$250 million—$25 multiplied by 10 million individuals. The poverty gap index is an important measure beyond the commonly used headcount ratio. Two regions may have a similar head count ratio, but distinctly different poverty gap indices. A higher poverty gap index means that poverty is more ...
The Human Poverty Index (HPI) was an indication of the poverty of community in a country, developed by the United Nations to complement the Human Development Index (HDI) and was first reported as part of the Human Development Report in 1997.
Sen poverty measure combines the Gini coefficient for people living below the poverty line with headcount ration of poverty and the average income of these below the poverty line. [20] This measure has been developed by Nobel Prize winner Amartya Sen but has not yet been used in the field of income inequality hypothesis.