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The formula raises the summands to the power alpha, so that FGT0 is the headcount index, FGT1 the PGI and FGT2 the squared PGI. Squared poverty gap index, also known poverty severity index or , is related to poverty gap index. It is calculated by averaging the square of the poverty gap ratio.
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.
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.
A deprivation index or poverty index (or index of deprivation or index of poverty) is a data set to measure relative deprivation (a measure of poverty) of small areas. Such indices are used in spatial epidemiology to identify socio-economic confounding .
The demographic profile of the poverty population differs under the SPM and OPM measures. Comparatively, the poverty rate of children is lower in terms of SPM and a higher poverty rate is conducted among the elderly (older than 65). The poverty rate of the working-age population fluctuates from year to year between the two poverty measures.
As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions." [11] "National poverty headcount ratio is the percentage of the population living below the national poverty line(s). National estimates are based on population-weighted subgroup estimates ...
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. This information reduction of course is the goal of computing inequality measures, as it reduces complexity.
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.