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It’s “reliable” insofar as it tells us how the “average” person is doing, and by definition the lower bound for the top half of the population.
by bhupy 6y ago
It’s “reliable” insofar as it tells us how the “average” person is doing, and by definition the lower bound for the top half of the population.
- TeMPOraL 6y agoNot reliable at all if you have a bimodal or multimodal distribution.
- bhupy 6y agoThat’s not true. As long as you’re taking into account the median purchasing power, it doesn’t matter what the shape of the distribution is. Real median income has increased regardless of the choice of inflation index.