Lecture 12 0506

Lecture 12 0506 - Lecture 12 Poverty Measures 5/6/10...

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Lecture 12 – Poverty Measures 5/6/10 Business Today: Finish inequality, poverty measures o Review Tuesday: Midterm o Bring a blue book o Calculators Clarification: Coefficient of Variation Two slides from two lectures ago were a mistake CV = FINISH Satisfies 4 criteria Measures inequality by looking at a different type of dispersion o Squared deviation from mean To find the CV o Start w/ the variance (average squared deviation form mean) o Take its square root (that’s the SD) o Normalize (divide) by the mean Kuznets Hypothesis Historical Background Kuznets writes in the 1950s o Context was Germany, UK, and US o Observed decreasing inequality in these 3 countries between 1920s-1950 o Conjectured (data didn’t exist) the from the late 18 th century until the end of the 19 th century the opposite occurred (inequality increased) Hypothesized mechanism o Industrialization occurred in these 3 countries in the 19 th century o Rural income distribution was more equal than urban income distribution o Migration – by decreased the portion of the population in the more equal sector – initially caused an increase in inequality
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Lecture 12 0506 - Lecture 12 Poverty Measures 5/6/10...

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