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Title: The global joint distribution of income and health
Authors: Wu, Ximing 
Savvides, Andreas 
Stengos, Thanasis 
Keywords: Global distribution
Issue Date: 1-May-2014
Publisher: Springer New York
Source: Recent Advances in Estimating Nonlinear Models: With Applications in Economics and Finance, 2014, Pages 249-279
Abstract: We investigate the evolution of global welfare in two dimensions: income per capita and life expectancy. First, we estimate the marginal distributions of income and life expectancy separately. More importantly, we consider income and life expectancy jointly and estimate their joint global distribution for 137 countries during 1970-2000. We reach several conclusions: the global joint distribution has evolved from a bimodal into a unimodal one, the evolution of the health distribution has preceded that of income, global inequality and poverty has decreased over time and the evolution of the global distribution has been welfare improving. Our decomposition of overall welfare indicates that global inequality would be underestimated if within-country inequality is not taken into account. Moreover, global inequality and poverty would be substantially underestimated if the dependence between income and health distributions is ignored.
ISBN: 978-146148060-0
Rights: © 2014 Springer Science+Business Media New York. All rights are reserved.
Appears in Collections:Κεφάλαια βιβλίων/Book chapters

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