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The Italian statistician Corrado Gini developed the Gini coefficient and published it in his 1912 paper Variabilità e mutabilità (English: variability and mutability). [16] [17] Building on the work of American economist Max Lorenz, Gini proposed using the difference between the hypothetical straight line depicting perfect equality and the actual line depicting people's incomes as a measure ...
A score of "0" on the Gini coefficient represents complete equality, i.e. every person has the same income. A score of 1 would represent the case in which one person would have all the income and others would have none. Therefore, a lower Gini score is roughly associated with a more equal distribution of income and vice versa.
A complete handout about the Lorenz curve including various applications, including an Excel spreadsheet graphing Lorenz curves and calculating Gini coefficients as well as coefficients of variation. LORENZ 3.0 is a Mathematica notebook which draw sample Lorenz curves and calculates Gini coefficients and Lorenz asymmetry coefficients from data ...
This is a list of countries and territories by income inequality metrics, as calculated by the World Bank, UNU-WIDER, OCDE, and World Inequality Database, based on different indicators, like Gini coefficient and specific income ratios.
The 1918 household Gini coefficient (excluding capital gains) was 40.8. A brief but sharp depression in 1920-1921 reduced incomes. Income inequality rose from 1913 to peaks in 1926 (1928 Gini 48.9, 1936 Gini 45.5) and 1941 (Gini 43.1), after which war-time measures of the Roosevelt administration began to equalize the income distribution. [20]
The area above the Lorenz curve -- marked "A" -- is shaded differently from the area below the curve -- marked "B". This simplifies the mathematical explanation of the gini coefficient, which is A/(A+B)
The Wealth Gini coefficients from 2008 are based on a working paper published by the National Bureau of Economic Research. [5] The Wealth Gini numbers for 2018, 2019, and 2021 come from the Global Wealth Databook by Credit Suisse. [6] [7] [8] * indicates "Wealth inequality in COUNTRY or TERRITORY" or "Income inequality in COUNTRY or TERRITORY ...
Gini: Higher Gini coefficients signify greater inequality in wealth distribution. A Gini coefficient of 0 reflects perfect wealth equality, where all wealth values are the same, while a Gini coefficient of 1 (or 100%) reflects maximal wealth inequality, a situation where a single individual has all the wealth while all others have none.