Every day thousands of types of products cross borders as part of the massive commercial network that represents the international market. Things like fruits, wood, cell phones, automobiles and human hair come from all over the world to satisfy our needs and desires.
In the previous article we talked about the Gini coefficient, this coefficient uses the Lorenz curve to indicate the income inequality in a population, and it is the most widely used measure of inequality in the academy. However, other measures can give us a better idea of the inequality in a country by measuring the data in a different way, such as the Income Quintile Ratio.
The Income Quintile Ratio (IQR) is the standard used by the United Nations Development Programme (UNDP) to measure inequality. How does it work?