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The State of the World ( Poverty and Inequality). Xavier Sala-i-Martin Columbia University June 2013. Goal. Estimate WDI consistent with the empirical growth evidence (which uses GDP per capita as the mean of each country/year distribution).
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The State of the World(Poverty and Inequality) Xavier Sala-i-Martin Columbia University June 2013
Goal • Estimate WDI consistent with the empirical growth evidence (which uses GDP per capita as the mean of each country/year distribution). • Estimate Poverty Rates and Counts resulting from this distribution • Estimate Income Inequality across the world’s citizens
Data • Note: All income data are PPP-Adjusted • Note: When we talk about GDP per capita (business cycles, trade, international economics, growth,…) we usually think of it as the as the “average” or “mean” of each country/year distribution of income
China and India • I decompose China and India into Rural and Urban • Use local surveys to get relative incomes of rural and urban • Apply the ratio to PWT GDP and estimate per capita income in Rural and Urban and treat them as separate data points (as if they were different “countries”)
Merge with Survey Data • But NA Numbers do not show Personal Situation: Need Individual Income Distribution • We can use Survey Data