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Ranking Inequality: Applications Of Multivariate Subset Selection, William C. Horrace, Joseph T. Marchand, Timothy M. Smeeding
Ranking Inequality: Applications Of Multivariate Subset Selection, William C. Horrace, Joseph T. Marchand, Timothy M. Smeeding
Center for Policy Research
Inequality measures are often presented in the form of a rank ordering to highlight their relative magnitudes. However, a rank ordering may produce misleading inference, because the inequality measures themselves are statistical estimators with different standard errors, and because a rank ordering necessarily implies multiple comparisons across all measures. Within this setting, if differences between several inequality measures are simultaneously and statistically insignificant, the interpretation of the ranking is changed. This study uses a multivariate subset selection procedure to make simultaneous distinctions across inequality measures at a pre-specified confidence level. Three applications of this procedure are explored using country-level data …
Ranking Inequality: Applications Of Multivariate Subset Selection, William C. Horrace, Joseph T. Marchand, Timothy M. Smeeding
Ranking Inequality: Applications Of Multivariate Subset Selection, William C. Horrace, Joseph T. Marchand, Timothy M. Smeeding
Center for Policy Research
Inequality measures are often presented in the form of a rank ordering to highlight their relative magnitudes. However, a rank ordering may produce misleading inference, because the inequality measures themselves are statistical estimators with different standard errors, and because a rank ordering necessarily implies multiple comparisons across all measures. Within this setting, if differences between several inequality measures are *simultaneously* and statistically insignificant, the interpretation of the ranking is changed. This study uses a multivariate subset selection procedure to make simultaneous distinctions across inequality measures at a pre-specified confidence level. Three applications of this procedure are explored using country-level data …