Welfare-Consistent Global Poverty Measures
Martin Ravallion () and
No 23739, NBER Working Papers from National Bureau of Economic Research, Inc
The paper provides new measures of global poverty that take seriously the idea of relative-income comparisons but also acknowledge a deep identification problem when the latent norms defining poverty vary systematically across countries. Welfare-consistent measures are shown to be bounded below by a fixed absolute line and above by weakly-relative lines derived from a theoretical model of relative-income comparisons calibrated to data on national poverty lines. Both bounds indicate falling global poverty incidence, but more slowly for the upper bound. Either way, the developing world has a higher poverty incidence but is making more progress against poverty than the developed world.
JEL-codes: I32 (search for similar items in EconPapers)
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Working Paper: Welfare-consistent global poverty measures (2017)
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