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The Theil Indices in Parametric Families of Income Distributions—A Short Review
Author(s) -
María Sarabia José,
Jordá Vanesa,
Remuzgo Lorena
Publication year - 2017
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/roiw.12260
Subject(s) - theil index , economics , econometrics , parametric statistics , inequality , distribution (mathematics) , index (typography) , property (philosophy) , income distribution , nonparametric statistics , economic inequality , mathematics , statistics , computer science , mathematical analysis , philosophy , epistemology , world wide web
The Theil indices (Theil, [Theil, H., 1967]) are widely used measures for studying the degree of concentration and inequality in size income distributions. Their property of decomposability makes these indices especially useful in applied economic analysis. This paper is a synthetic review of the Theil indices for the most important and popular parametric income distributions. Extensions to higher dimensions are sketched.