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Q6. Redistribution and Insurance
(6.1) What does the GINI coefficient for a country measure? How is it calculated? What values can it
have?
(6.2) Using the CIA World Factbook, in a table, list the data provided for
1) the GINI Coefficient,
2) ratio of national income share of the highest decile of the households to that for the lowest decile,
3) GDP per capita,
4) fraction of the population below the poverty line, and
5) the unemployment rate,
for the three countries you used in question (1.1).
(Show the units and the data reference dates.)
Do you notice any potential correlations between the GINI coefficient and the other measures in your
table?
(6.3) Please use the following posted readings to answer this question.
Author Article Title
Prof. Edward Lazear Want to Reduce Inequality? Consult China, Vietnam and India
Prof. William Watson The Inequality Trap
Prof. Jesus Fernandez-Villaverde
and Prof. Lee E. Ohanian
How Sweden Overcame Socialism
Prof. Richard Zeckhauser Insurance
Prof. Art Carden and
Prof. Steve Horwitz
Is Market Failure a Sufficient Condition for Government
Intervention?
For two of the above articles:
• Summarize a key message and an interesting piece of supporting information from the article.
• Explain whether the message you chose agrees with, contradicts, or expands upon what this
course covered.
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