Dual disadvantage and dispersion dynamics for income distributions
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Date
2016
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Abstract
Income distribution has been a longstanding focus of social and economic interest,
but never more so than in recent times. New metrics for disadvantage and spread enable a
more precise differentiation of directional asymmetry and dispersion, drawing on an internal
contextual perspective. The dual metrics for asymmetry and spread can be plotted over time
into a phase plane, enabling comparative social welfare perspectives over time and between
countries. The methods are utilised to study the dramatic changes that took place in Europe
prior to and after the GFC. Major differences are revealed. In terms of asymmetry and spread,
some countries have been fallers (lower in both) while other countries are risers.
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Keywords
asymmetry, social welfare function, partition entropy, income inequality, economic disadvantage