Poverty Rate
The poverty rate is the ratio of the number of people (in a given age group) whose income falls below the poverty line; taken as half the median household income of the total population.
However, two countries with the same poverty rates may differ in terms of the relative income-level of the poor.
See definition: https://data.oecd.org/inequality/poverty-rate.htm
Also known as: poverty rate, income poverty.
Poverty Rate in Python or via the MCP
Install the Finance Toolkit with:
pip install financetoolkit -U
Then call get_poverty_rate as shown below.
from financetoolkit import Economics
economics = Economics(start_date='2012-01-01', end_date='2020-01-01')
economics.get_poverty_rate(countries='Portugal')
Or, after setting up the Finance Toolkit MCP, ask:
What share of people lived in relative poverty in Portugal from 2012 to 2020?
Which returns:
| Portugal | |
|---|---|
| 2012 | 0.1295 |
| 2013 | 0.135 |
| 2014 | 0.135 |
| 2015 | 0.1255 |
| 2016 | 0.1246 |
| 2017 | 0.1067 |
| 2018 | 0.1038 |
| 2019 | 0.1058 |
| 2020 | 0.1279 |
Parameters
get_poverty_rate accepts the following parameters.
| Parameter | Type | Description | Example |
|---|---|---|---|
countries | list[str] | str | None | The countries to include in the data. Defaults to None. | ["United States", "Germany"] |
rolling | int | The rolling window size to use for smoothing the data (simple moving average). Defaults to None. | 4 |
trailing | int | The trailing window size to use for summing the data over trailing periods (e.g. a trailing-4-quarter sum). Defaults to None. | 4 |
growth | bool | Whether to return the growth data or the actual data. Defaults to False. | True |
lag | int | The number of periods to lag the data by. Defaults to 1. | 4 |
standardize | bool | Whether to standardize (Z-Score) the result. When combined with growth=True, standardizes the growth values instead of the raw values. Defaults to False. | True |
rounding | int | None | The number of decimals to round the results to. Defaults to None. | 2 |