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Risk-adjusted measures of wage inequality and safety nets

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  • Paul Makdissi

    ()
    (Département d'économique and CEREF, Université de Sherbrooke)

  • Quentin Wodon

    ()
    (LCSPR, World Bank)

Abstract

Income variablity is likely to increase wage inequality if poorer households are more vulnerable to shocks. Using a simple method to estimate risk-adjusted measures of wage inequality and data from Mexico, this note shows that safety nets could offset a good part of the impact of risk aversion on wage inequality.

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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 9 (2003)
Issue (Month): 1 ()
Pages: 1-10

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Handle: RePEc:ebl:ecbull:eb-03i30001

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References

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  1. Yitzhaki, Shlomo & Slemrod, Joel, 1991. "Welfare Dominance: An Application to Commodity Taxation," American Economic Review, American Economic Association, vol. 81(3), pages 480-96, June.
  2. Richard Blundell & Ian Preston, 1997. "Consumption, inequality and income uncertainty," IFS Working Papers W97/15, Institute for Fiscal Studies.
  3. Friend, Irwin & Blume, Marshall E, 1975. "The Demand for Risky Assets," American Economic Review, American Economic Association, vol. 65(5), pages 900-922, December.
  4. Hildreth, Clifford & Knowles, Glenn J., 1982. "Some Estimates of Farmers' Utility Functions," Technical Bulletins 54545, University of Minnesota, Agricultural Experiment Station.
  5. R. Mehra & E. Prescott, 2010. "The equity premium: a puzzle," Levine's Working Paper Archive 1401, David K. Levine.
  6. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
  7. Blackorby, Charles & Donaldson, David, 1978. "Measures of relative equality and their meaning in terms of social welfare," Journal of Economic Theory, Elsevier, vol. 18(1), pages 59-80, June.
  8. John C. Harsanyi, 1955. "Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility," Journal of Political Economy, University of Chicago Press, vol. 63, pages 309.
  9. John C. Harsanyi, 1953. "Cardinal Utility in Welfare Economics and in the Theory of Risk-taking," Journal of Political Economy, University of Chicago Press, vol. 61, pages 434.
  10. Ravallion, Martin, 1988. "Expected Poverty under Risk-Induced Welfare Variability," Economic Journal, Royal Economic Society, vol. 98(393), pages 1171-82, December.
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Cited by:
  1. Sami Bibi & Jean-Yves Duclos & Abdelkrim Araar, 2013. "Mobility, Taxation and Welfare," Cahiers de recherche 1314, CIRPEE.
  2. Van Kerm, Philippe, 2009. "Generalized measures of wage differentials," IRISS Working Paper Series 2009-08, IRISS at CEPS/INSTEAD.
  3. Guillermo Cruces & Quentin Wodon, 2003. "Argentinas Crises and the Poor, 1995-2002," STICERD - Distributional Analysis Research Programme Papers 71, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  4. Cruces Guillermo & Makdissi Paul & Wodon Quentin T., 2004. "Poverty Measurement Under Risk Aversion Using Panel Data," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-20, September.
  5. Nicholas Rohde & Kam Ki Tang & Prasada Rao, 2011. "Income volatility and insecurity in the U.S., Germany and Britain," Discussion Papers Series 434, School of Economics, University of Queensland, Australia.
  6. Sami Bibi & Jean-Yves Duclos & Abdelkrim Araar, 2014. "Mobility, taxation and welfare," Social Choice and Welfare, Springer, vol. 42(3), pages 503-527, March.
  7. Addison, Douglas & Wodon, Quentin, 2007. "Macroeconomic Volatility, Private Investment, Growth, and Poverty in Nigeria," MPRA Paper 11113, University Library of Munich, Germany.
  8. Guillermo Cruces & Quentin Wodon, 2007. "Risk-adjusted poverty in Argentina: measurement and determinants," Journal of Development Studies, Taylor & Francis Journals, vol. 43(7), pages 1189-1214.
  9. Quentin Wodon, 2007. "Growth and Poverty Reduction : Case Studies from West Africa," World Bank Publications, The World Bank, number 6875, October.
  10. Paul MAKDISSI & Quentin WODON, 2004. "Price Liberalization and Farmer Welfare Under Risk Aversion: Cotton in Benin and Ivory Coast," Cahiers de recherche 04-09, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke.

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