the Gapminder Ignorance Project for more evidence. The shocks matter: improving our estimates of exchange rate pass-through (Kristin Forbes, Ida Hjortsoe and Tsvetelina Nenova Journal of International Economics, Vol. 136 Factor adjustment costs: a structural investigation (H Mumtaz and F Zanetti) Journal of Economic Dynamics and Control, Vol. The Multidimensional Poverty Index (MPI) published by the Oxford Poverty Human Development Initiative (ophi), is one such effort to aggregate various aspects of well-being into a single metric. Vazzoni, FedericoGavin, William yle, George-LeviGeorgellis, YannisGertler, MarkGhent, Andra ysels, EricGilbert,. Visit Site, affiliate Sites, follow the Bank. The result for the top bracket deserves particular attention: the share of the population in non-rich countries living with more than the equivalent of 10 per day went up from 9 in 1981, to 23 in 2013. By virtue of being approximations, the World Bank poverty estimates can underestimate, as well as overestimate the size of the underlying problem. The bottom line is that the accuracy of these approximations relies heavily on the availability of survey datathe more survey years are available for a country, the more accurate the approximation.
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Jolliffe and Prydz (2016) 45 address this issue of comparability by estimating the national poverty lines that are implied by poverty rates. (2016) 43, shows in detail how the International Poverty Line has been updated over time. What is true for the recent decades is also true for the long-run perspective on a global scale. When richer individuals or households are less likely to answer surveys than poor people, survey-based estimates of consumption and income will understate the mean level of prosperity and overstate the share of people in poverty. This can be appreciated in a scatter plot of poverty headcount rates. 16 One thing this shows is that, despite improvements, the expansion of education around the world in the last decades has still not been enough to lift many households out of poverty. In most cases, surveys are representative at the national level and record responses provided by primary respondents such as the head of the household. (2016) 50 Data deprivation One of the key ingredients for the World Bank's measurement of poverty are household surveys providing evidence about household consumption per head (or, in some cases, income per head). The following chart shows the cumulative distribution of welfare for different age groups. Here we focus on trends from a regional perspective.
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