GINI Index, Total US

Source:
World Bank

Release:
World Development Indicators

Units:
Index, Not Seasonally Adjusted

Frequency:
Annual

Available Through:
12/31/2018

Why Use:

The GINI Index measures economic equality in the US. This is useful for descibing how GDP, income, and wealth may vary across the population.

Suggested Treatment:

The data shows seasonality. The data should be adjusted. While the Order Norm transformation, provides the best normality, the Arcsin variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

Connect to this
Data Set Now

Ready Signal automates the process of sourcing, normalizing, and applying data science treatments to this data and other impactful control data. Create an account today.

GINI Index, Total US

Auto Correction Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Autocorrectation Analysis:

Data does not show strong autocorrectation indicating no need for differencing

The ACF indicates 0 order differencing is appropriate.

Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.46

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.03 p-value = 0.10 indicates that the data is stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.58 with a p-value =0.00 indicating the data does not follow a normal distribution.

A skewness score of 1.04 indicates the data are substantially skewed.

Hartigan's dip test score of 0.12 with a p-value of 0.00 inidcates the data is multimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
5.54
Box-cox
NA
Log_b(x-a)
5.54
sqrt(x+a)
5.54
exp(x)
NA
arcsinh(x)
5.54
Yeo-Johnson
5.54
OrderNorm
5.00

Data Notes:

2020 data is not currently available.

Citation:

World Bank, GINI Index for the United States [SIPOVGINIUSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SIPOVGINIUSA, December 19, 2019.

Take the next step

SIGN UP FREE