Boggle gives you 3 minutes to find as many words (3 letters or more) as you can in a grid of 16 letters. For example, in an economy composed of two people, Mr. Smith and Mrs. Jones, where one of them has 60% of the income and the other 40%, the inequality metric should be the same whether it is Mr. Smith or Mrs. Jones who has the 40% share. The parameter α in the class represents the weight given to distances between incomes at different parts of the income distribution, and can take any real value. There is evidence from a broad panel of recent academic studies shows that there is a nonlinear relation between income inequality and the rate of growth and investment. A third "symmetrized" Theil index is the arithmetic average of the two previous indices. The precise shape of the inequality-growth curve obviously varies across countries depending upon their resource endowment, history, remaining levels of absolute poverty and available stock of social programs, as well as on the distribution of physical and human capital. In the example given here, "Theil index" stands for the arithmetic mean of a Theil index computed for the distribution of income within a society to the individuals (or households) in that society and a Theil index computed for the distribution of the individuals (or households) in the society to the income of that society. Top synonyms for income distribution (other words for income distribution) are income scale, distribution of income and revenue sharing. When applied to income distributions, the first Theil index relates to systems within which incomes are stochastically distributed to income earners, whereas the second Theil index relates to systems within which income earners are stochastically distributed to incomes. Quintile measures of inequality satisfy the transfer principle only in its weak form because any changes in income distribution outside the relevant quintiles are not picked up by this measures; only the distribution of income between the very rich and the very poor matters while inequality in the middle plays no role. The higher the amount of segments (e.g. Find more similar words at wordhippo.com! Clarify whether real or nominal income distributions should be used. See if you can get into the grid Hall of Fame ! There are 328 income distribution-related words in total, with the top 5 most semantically related being distribution, economics, allocate, allocation and economic policy.You can get the definition(s) of a word in the list below by tapping the question-mark icon next to it. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital. For each group the amount of individuals (or households) per group A and the total income in that group E is specified. The reason for its popularity is that it is easy to understand how to compute the Gini index as a ratio of two areas in Lorenz curve diagrams. Swansea, meanwhile, has seen above-average growth in income distribution and transport since the previous report, which covered the period 2013-2015.  |  In most Western societies, an individual tends to start life with little or no income, gradually increase income till about age 50, after which incomes will decline, eventually becoming negative. In many cases the inequality indices mentioned above are computed from such segment data without evaluating the inequalities within the segments. Dalton-Pigou, or the transfer principle - this is the assumption that makes an inequality metric actually a measure of inequality. Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. An economy with only a few people should not be automatically judged by the metric as being more equal than a large economy with lots of people. Economic theory and economic policy have long seen income and its distribution as a central concern. earnings, gains, interest, means, pay, proceeds, profits, receipts, revenue, salary, takings, wages, English Collins Dictionary - English synonyms & Thesaurus, Collaborative Dictionary     English Thesaurus. Compare your income. Income distribution definition at Dictionary.com, a free online dictionary with pronunciation, synonyms and translation. Get XML access to fix the meaning of your metadata. There are many types of inequality. Countries with a relatively unequal distribution of income find it harder to grow economically in a sustainable way. The Hoover index is the simplest of all inequality measures to calculate: It is the proportion of all income which would have to be redistributed to achieve a state of perfect equality. They have all four properties described above. And households have a varying amount of members. As a disadvantage, the Gini index only maps a number to the properties of a diagram, but the diagram itself is not based on any model of a distribution process. 20 synonyms for underprivileged: disadvantaged, poor, deprived, in need, impoverished, needy, badly off, destitute, in want, on the breadline, backward.... What are synonyms for Income inequality metrics? ○   Wildcard, crossword Data have been revised for Belgium and Ireland (income year 2017). High redundancy means low entropy. This property distinguishes the concept of inequality from that of fairness where who owns a particular level of income and how it has been acquired is of central importance. income definition: 1. money that is earned from doing work or received from investments: 2. a company's profit in a…. into quintiles should be similar. It has been estimated (by A.S. Blinder in. Investor Words has the following definition of the term: “The distribution of wages earned acros… Antonyms for Low income. One form of income is the total amount of goods and services that a person receives, and thus there is not necessarily money or cash involved. The article Economic inequality discusses the social and policy aspects of income distribution questions. 20 July 2020: New data are available for Finland, Norway, Sweden and the United Kingdom (income year 2018), the Slovak Republic (income year 2017) and Switzerland (income years 2016 and 2017). In other words, if every person's income in an economy is doubled (or multiplied by any positive constant) then the overall metric of inequality should not change. Surveys have been completed in most developing countries. The inequality income metric should be independent of the aggregate level of income. Travis Hale, University of Texas Inequality Project. Inequality metrics measure inequality. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Do government programs support some income groups more than others? Studies of income inequality focus on the widening gap between the have-a-littles and the have-a-lot-mores. But this does not necessarily imply that a very high inequality is "good", because very low entropies also can lead to explosive compensation processes. Synonyms for Income inequality metrics in Free Thesaurus. For GE(0), GE is more sensitive to changes in the lower tail of the distribution, and for higher values like GE(2), the measure is more sensitive to changes that affect the upper tail. Figure 1 shows the income distribution for 1997-2002, for both mean income and median income (see the box for a quick brush-up on statistical terms.) Should it include. Of course the same thing applies to poorer economies. Of the above indexes, only the Theil index has this property. Keeping these points in mind helps to understand the problems caused by the improper use of inequality measures. While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. deciles instead of quintiles), tho closer the measured inequality of distribution gets to the real inequality. At $95,850, the median income reported for 2002 showed a $4,850 gain over 2001's median income of $91,000. For both indices, such an equalization only serves as a reference, not as a goal. An additional property of an inequality metric that may be desirable from an empirical point of view is that of 'decomposability'. The SensagentBox are offered by sensAgent. Add new content to your site from Sensagent by XML. Interestingly, the formula of the third Theil index has some similarity with the Hoover index (as explained in the related articles). To make squares disappear and save space for other squares you have to assemble English words (left, right, up, down) from the falling squares. In their study for the World Institute for Development Economics Research, Giovanni Andrea Cornia and Julius Court (2001) reach analogous conclusions. See more. Such patterns of distribution are discerned and studied by various statistical means, all of Another word for income. Ro, Cookies help us deliver our services. Search income distribution and thousands of other words in English definition and synonym dictionary from Reverso. Similarly, the income inequality metric should not depend on whether an economy has a large or small population. In a world in which all income was received by just one family, almost 100% of that income would need to be redistributed (i.e., taken and given to other families) in order to achieve equality. Each square carries a letter. incomer, incommode, incomplete, incompetent. into quintiles (or any other percentage of population). Income inequality diminishes growth potential through the erosion of social cohesion, increasing social unrest and social conflict causing uncertainty of property rights. Definition of Income distribution in the Definitions.net dictionary. Top synonyms for distribution of income (other words for distribution of income) are income distribution, revenue sharing and revenue distribution. Wealth inequality, on the other hand, includes all people’s assets, such as property, land, gold, investments, etc. The Theil index is an entropy measure. Among the most common metrics used to measure inequality are the Gini index (also known as Gini coefficient), the Theil index, and the Hoover index. However, in the real world, societies are open systems, but the openness is restricted by the entropy exchange capabilities of the interfaces between the society and the environment of that society. The web service Alexandria is granted from Memodata for the Ebay search. Here income inequality measures also can be used to compare the income distributions before and after taxation in order to measure the effects of progressive tax rates. 1. using copyright law to make a piece of work freely available and allowing its free, You want to reject this entry: please give us your comments (bad translation/definition, duplicate entries...), English Portuguese translation in context, Free: Learn English, French and other languages, Reverso Documents: translate your documents online, Learn English watching your favourite videos. This means that if a particular economy is broken down into sub-regions, and an inequality metric is computed for each sub region separately, then the measure of inequality for the economy as a whole should be a weighted average of the regional inequalities (in a weaker form, it means that it should be an explicit function of sub-regional inequalities, though not necessarily linear). The Gini value for households is always lower than for individuals because of income pooling and intra-family transfers. Information and translations of Income distribution in the most comprehensive dictionary definitions resource on the web. Income definition, revenue received for goods or services, or from other sources, as rents or investments: For years, her only source of income was the small number of stocks her father left her. Income distribution is defined as how the nation's total income is distributed amongst its population. 14 synonyms of income from the Merriam-Webster Thesaurus, plus 29 related words, definitions, and antonyms. when there is perfect equality. Both very high egalitarianism and very high inequality cause slow growth. Econlib, January 28, 2002 and April 1, 2002. In other cases the groups are created based on income ranges which leads to having different amounts of individuals in the different groups. In its strong form, the measured level of inequality should decrease. Rather than to indicate a single measure, the society under investigation is split into segments, e.g. Income Distribution synonyms. Resources Legal English Vocabulary: Income Distribution in Spanish. Considering the inequalities in economically well developed countries, public policy should target an ‘efficient inequality range’. In the economic literature on inequality four properties are generally postulated that any measure of inequality should satisfy: This assumption states that an inequality metric does not depend on the "labeling" of individuals in an economy and all that matters is the distribution of income. Usually each segment contains the same share of income earners. Income Distribution refers to the share of total income in society that goes to each fifth of the population, or, more generally, to the distribution of income among Canadian households. All rights reserved. Extreme inequality can effectively reduce access to productivity enhancement measures, or cause such measures to be allocated inefficiently toward those who already have, or can no longer absorb such measures. A windows (pop-into) of information (full-content of Sensagent) triggered by double-clicking any word on your webpage. The more "distinguishable" they are, the lower is the "actual entropy" of a system consisting of income and income earners. Taxable Income . This information reduction of course is the goal of computing inequality measures, as it reduces complexity. Distinguish properly, whether the basic unit of measurement is households or individuals. In its weak form it says that if some income is transferred from a rich person to a poor person, while still preserving the order of income ranks, then the measured inequality should not increase. Distribution occurs when the trading volume of a security is greater than that of the previous day without any price increase. Meaning of Income distribution. Letters must be adjacent and longer words score better. The following subsections cover them only briefly. In economics, income distribution covers how a country's total GDP is distributed amongst its population. The wordgames anagrams, crossword, Lettris and Boggle are provided by Memodata. Synonyms for Low income in Free Thesaurus. This is the British English definition of income.View American English definition of income.. Change your default dictionary to American English. As in case of the Hoover index, the symmetrized Theil index does not change when swapping the incomes with the income earners. Company Information Distribution is the disbursement of … For a given distribution the Theil index can be larger than the Hoover index or smaller than the Hoover index: In order to increase the redundancy in the distribution category of a society as a closed system, entropy needs to be exported from the subsystem operating in the that economic category to other subsystems with other entropy categories in the society. The "meaning" of the Gini index only can be understood empirically. The table above shows a computation of inequality indices for four groups. Search income distribution and thousands of other words in English definition and synonym dictionary from Reverso. All translations of Distribution of income. Neither does using the Theil index necessarily imply that a very low inequality (low redundancy, high entropy) is "good", because high entropy is associated with slow, weak and inefficient resource allocation processes. What does Income distribution mean? The authors claim that such efficiency range roughly lies between the values of the Gini coefficients of 25 (the inequality value of a typical Northern European country) and 40 (that of countries such as the USA, France, Germany and the UK). Definition and synonyms of income from the online English dictionary from Macmillan Education.. Distribution Of Income synonyms. World Bank: World Development Report 2000/2001, chapter 3, When using income metrics, it has to be made clear how income should be defined. When drawing conclusion from inequality measurements, consider how we should allocate the benefits of government spending? A Theil index of 0 indicates perfect equality. Income is used in the accounting profession to mean several different things.One meaning of income refers to What effect will inflation have on absolute measures? As an example, Amartya Sen commented on the Theil index, "given the association of doom with entropy in the context of thermodynamics, it may take a little time to get used to entropy as a good thing. (For the Theil index and the Hoover index no sorting is required.) Change the target language to find translations. The accounting profession is similar to other professions where words have many different meanings depending on the context. It behaves like a negative entropy. You can also try the grid of 16 letters. What is the definition of income? Inequality and Growth: What Can the Data Say? Income distribution proves to be the way that a country’s entire gross domestic product is actually shared out among all members of the population. This has long been a main concern of the study of economics and related governmental economic policies. Enrich your vocabulary with the English Definition dictionary Services like public health and education are also counted in.  | Last modifications, Copyright © 2012 sensagent Corporation: Online Encyclopedia, Thesaurus, Dictionary definitions and more. Because these income inequality metrics are summary statistics that seek to aggregate an entire distribution of incomes into a single index, the information on the measured inequality is reduced. The comparison of inequality measures requires that the segmentation of compared groups (societies etc.) Details of the three inequality measures are described in the respective Wikipedia articles. For the Theil index also the term "Theil entropy" had been used. income distribution definition in English dictionary, income distribution meaning, synonyms, see also 'income bond',income group',income support',income tax'. Some alleged causes include: life cycle effects (age), inherited characteristics (IQ, talent), willingness to take chances (risk aversion), the leisure/industriousness choice, inherited wealth, economic circumstances, education and training, discrimination, and market imperfections. In case of an unequal income distribution, the shares of income available in each segment are different. The difference between the Theil index and the Hoover index is the weighting of the relative deviation D. For the Hoover index the relative deviation D per group is weighted with its own sign. How to generate that third Theil index by means of a spreadsheet computation directly from distribution data is shown below. Often expenditure or consumption (which is the same in an economic sense) is used to measure income. An inequality metric is a statement simply about how income is distributed, not about who the particular people in the economy are or what kind of income they "deserve". Privacy policy Another word for distribution. High inequality yields high Theil redundancies. Income distribution has always been a central concern of economic theory and economic policy. Most English definitions are provided by WordNet . Other research (W.Kitterer[12]) shows that in perfect markets inequality does not influence growth. In a perfectly equal world, no resources would need to be redistributed to achieve equal distribution: a Hoover index of 0. This figure illustrates the definition of the Gini index: in a population in which income is perfectly equally distributed, the distribution of incomes would be represented by the ‘line of equality’ as shown in the chart – 10% of the population would earn 10% of the total income, 20% would earn 20% of the total income … Find more ways to say income, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. This is slightly more inequal than the inequality in a system to which the "80:20 Pareto principle" applies. The Gini index is the most frequently used inequality index. [4] The Theil index can be transformed into an Atkinson index, which has a range between 0 and 1 (0% and 100%), where 0 indicates perfect equality and 1 (100%) indicates maximum inequality. Applied to the analysis of income inequality within countries, "income" often stands for the taxed income per individual or per household. ), The rich get richer and the poor get poorer, http://www.poorcity.richcity.org/calculator/?quantiles=82.4,17.6|17.6,82.4, International Encyclopedia of the Social & Behavioral Sciences, Survey data from the government of Sri Lanka, Two Americas: One Rich, One Poor? ©2020 Reverso-Softissimo. Maldistribution definition is - bad or faulty distribution : undesirable inequality or unevenness of placement or apportionment (as of population, resources, or wealth) over an area or among members of a … In real markets redistribution contributes to growth. Choose the design that fits your site. This means that the metric should be independent of the level of population. If a subsistence farmer in Uganda grows her own grain it will count as income. The concept of inequality is distinct from that of poverty[1] and fairness[clarification needed]. Income distribution over time is mismeasured because of positional goods: Economic Growth and True Inequality (Part 1) and Irreducible Inequality (Part 2), John V.C. For societies with a resource distribution which entropywise is similar to the resource distribution of a reference society with a 73:27 split (73% of the resources belong to 27% of the population and vice versa)[7], the point where the Hoover index and the Theil index are equal, is at a value of around 46% (0.46) for the Hoover index and the Theil index. [Geo.] Lettris is a curious tetris-clone game where all the bricks have the same square shape but different content. English thesaurus is mainly derived from The Integral Dictionary (TID). Robert J. Barro, Harvard University found in his study "Inequality and Growth in a Panel of Countries" that higher inequality tends to retard growth in poor countries and encourage growth in well developed regions.[10]. This property says that richer economies should not be automatically considered more unequal by construction. Understanding Income Inequality in the United States, The Big Picture: Shifting Incomes from 1995 to 2005. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital. Look it up now! As for any resource distribution and with reference to information theory, "maximum entropy" occurs once income earners cannot be distinguished by their resources, i.e. High populations live near the coastline. The range of the Gini index is between 0 and 1 (0% and 100%), where 0 indicates perfect equality and 1 (100%) indicates maximum inequality. From these data inequality measures as well as the related welfare functions are computed and displayed in fields with green background. Find out more, Illustration of the relation between Theil index, Comparison of the Theil index and the Hoover index, an offensive content(racist, pornographic, injurious, etc. Below is a massive list of income distribution words - that is, words related to income distribution. Learn more. The metrics will be influenced either upward or downward depending on which unit of measurement is used. There are three variants of the Theil index. Give contextual explanation and translation from your sites ! ○   Lettris Distribution of wealth and income, the way in which the wealth and income of a nation are divided among its population, or the way in which the wealth and income of the world are divided among nations. In the table, fields with a yellow background are used for data input.  |  In real societies people can be distinguished by their different resources, with the resources being incomes. Also based on information theory, the gap between these two entropies can be called "redundancy"[5]. The English word games are: Income distribution has always been a central concern of economic theory and economic policy. They do not measure possible causes of income inequality. The World Bank uses the so-called "living standard measurement surveys"[2] to measure income. With a SensagentBox, visitors to your site can access reliable information on over 5 million pages provided by Sensagent.com. The Hoover index then ranges between 0 and 1 (0% and 100%), where 0 indicates perfect equality and 1 (100%) indicates maximum inequality. The parameter pairs A and E need to be sorted for the computation of the Gini coefficient. A weaker reduction of complexity is achieved if income distributions are described by shares of total income. Income: an increase usually measured in money that comes from labor, business, or property. Antonyms for Income inequality metrics. Hi there! As a result two very different distributions of income can have the same Gini index. The Good Growth for Cities 2017 report shows Cardiff enjoying aboveaverage growth compared to 41 other UK cities in areas such as jobs, worklife balance and income distribution. A and E has the be sorted so that the values in the column "Income per individual" are lined up in ascending order. For example, pay inequality refers to just people’s wages and salaries. By using our services, you agree to our use of cookies. ○   Boggle. All of the metrics described below are applicable to evaluating the distributional inequality of various kinds of resources. Income distribution definition. For the computation the society usually is divided into income groups. Additionally the Gini does not capture where in the distribution the inequality occurs. Synonyms for distribution of income in English including definitions, and related words. Get XML access to reach the best products. Here the focus is on income as a resource. Find more ways to say distribution, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. If inequality measures are computed in a well explained and consistent way, they can provide a good tool for quantitative comparisons of inequalities. How does the existence of a social security safety net influence the definition of absolute measures of poverty? (If the inequality within the segments is known, the total inequality can be determined by those inequality metrics which have the property of being "decomposable".). Often there are four or five groups consisting of a similar amount of individuals in each group. As there are various forms of "income", the investigated kind of income has to be clearly described. Synonyms for income include earnings, gains, revenue, pay, proceeds, wages, yield, means, profits and salary. You can complete the list of synonyms of income distribution given by the English Thesaurus dictionary with other English dictionaries: Wikipedia, Lexilogos, Oxford, Cambridge, Chambers Harrap, Wordreference, Collins Lexibase dictionaries, Merriam Webster... English-Synonyms dictionary : translate English words into Synonyms with online dictionaries. Online translation of the English legal term income distribution into Spanish: Distribución del ingreso (English to Spanish translation) .More about legal dictionary from english to spanish online.. Related to the Legal Thesaurus Contact Us Find another word for income. Tips: browse the semantic fields (see From ideas to words) in two languages to learn more. This affects the conclusions which can be drawn from a measured inequality. Do some groups (eg., pensioners) feel the effect of inflation more than others? World Bank, Development Research Group. Income from wages, salaries, interest, dividends, business income, capital gains, and pensions received during a given tax year are considered taxable income in the United States. Modern economists have also addressed this issue, but have been more concerned with the distribution of income across individuals and households. These consist of questionnaires with more than 200 questions. Important theoretical and policy concerns include the relationship between income inequality and economic growth. All rights reserved. Applying the Theil index to allocation processes in the real world does not imply that these processes are stochastic: the Theil yields the distance between an ordered resource distribution in an observed system to the final stage of stochastic resource distribution in a closed system. "[6] It is important to understand that an increasing Theil index does not indicate an increasing entropy, instead it indicates an increasing redundancy (decreasing entropy). [11] The authors therefore recommend to pursue moderation also as to the distribution of wealth and particularly to avoid the extremes. Consider life cycle effects. How the population is spread over an area. However, they do not render inequality coefficients invalid.