Inference for ranks with applications to mobility across neighborhoods and academic achievement across countries
By providing confidence sets for ranks, this paper addresses the problem that rankings, for example, of neighborhoods in the US according to intergenerational mobility can be more or less informative.
A glitch with the standard algorithm stimulated a broader question: Is there an inequality measure that both captures how people experience economic disparities and independently of the number of wealth holders, is not downward-biased?
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Thomas Piketty explains his work of collecting long-run data on the distribution of wealth.