Variance estimation for richness measures

Michał Brzeziński

No 2013-03, Working Papers from Faculty of Economic Sciences, University of Warsaw

Abstract: Richness indices are distributional statistics used to measure the incomes, earnings, or wealth of the rich. This paper uses a linearization method to derive the sampling variances for recently introduced distributionally-sensitive richness measures when estimated from survey data. The results are derived for two cases: (1) when the richness line is known, and (2) when it has to be estimated from the sample. The proposed approach enables easy consideration of the effects of a complex sampling design. Monte Carlo results suggest that the proposed approach allows for reliable inference in case of “concave” richness indices, but that it is not satisfactory in case of “convex” richness measures.

Keywords: richness; affluence; distributional indices; variance estimation; statistical inference (search for similar items in EconPapers)
JEL-codes: C12 C46 D31 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2013
New Economics Papers: this item is included in nep-ecm
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Downloads: (external link)
http://www.wne.uw.edu.pl/inf/wyd/WP/WNE_WP88.pdf First version, 2013 (application/pdf)

Related works:
Working Paper: Variance Estimation for Richness Measures (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:war:wpaper:2013-03

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