The inequality possibility frontier: the extensions and new applications
The paper extends the Inequality Possibility Frontier (IPF) approach introduced by Milanovic, Lindert and Williamson (2011) in two methodological directions. It allows the social minimum to increase with the average income of a society, and it derives all the IPF statistics for two other inequality measures than the Gini. Finally, it applies the framework to contemporary data showing that the ineq