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Economic well-being in Italy: The role of income insecurity and intergenerational inequality

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  • Berloffa, Gabriella
  • Modena, Francesca

Abstract

This paper argues that the evaluation of a society's economic well-being should account for the employment risk associated with being a temporary worker and for the relative income loss of young generations with respect to older ones. We show that the inclusion of new measures of both these aspects in the IEWB almost halves economic well-being growth rates in Italy over the 1995–2007 period, with a larger reduction in Lombardy (the leading Italian region), where the incidence of the private sector is higher. In both areas well-being advanced at a significantly lower rate than GDP.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 81 (2012)
Issue (Month): 3 ()
Pages: 751-765

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Handle: RePEc:eee:jeborg:v:81:y:2012:i:3:p:751-765

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Web page: http://www.elsevier.com/locate/jebo

Related research

Keywords: Well-being; Inequality; Income insecurity;

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References

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  1. Lars Osberg & Andrew Sharpe, 2002. "International Comparisons of Trends in Economic Well-being," Social Indicators Research, Springer, vol. 58(1), pages 349-382, June.
  2. Gabriella Berloffa & Paola Villa, 2010. "Differences In Equivalent Income Across Cohorts Of Households: Evidence From Italy," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(4), pages 693-714, December.
  3. Pulselli, Federico Maria & Ciampalini, Francesca & Tiezzi, Enzo & Zappia, Carlo, 2006. "The index of sustainable economic welfare (ISEW) for a local authority: A case study in Italy," Ecological Economics, Elsevier, vol. 60(1), pages 271-281, November.
  4. Boeri, Tito & Brandolini, Andrea, 2005. "The Age of Discontent: Italian Households at the Beginning of the Decade," IZA Discussion Papers 1530, Institute for the Study of Labor (IZA).
  5. Gabriella Berloffa & Paola Villa, 2007. "Inequality across cohorts of households: evidence from Italy," Department of Economics Working Papers 0711, Department of Economics, University of Trento, Italia.
  6. Francesca Modena & Concetta Rondinelli, 2011. "Leaving home and housing prices. The experience of Italian youth emancipation," Department of Economics Working Papers 1101, Department of Economics, University of Trento, Italia.
  7. Lars Osberg, 2009. "Measuring Economic Security in Insecure Times: New Perspectives, New Events, and the Index of Economic Well-being," CSLS Research Reports 2009-12, Centre for the Study of Living Standards.
  8. Rosolia Alfonso, 2010. "The evolution of the earnings distribution in Italy between 1986 and 2004: evidence from the WHIP database," Politica economica, Società editrice il Mulino, issue 2, pages 179-202.
  9. Andrea Brandolini & Piero Casadio & Piero Cipollone & Marco Magnani & Alfonso Rosolia, 2007. "Employment Growth in Italy in the 1990s: Institutional Arrangements and Market Forces," AIEL Series in Labour Economics, in: Nicola Acocella & Riccardo Leoni (ed.), Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought, edition 1, chapter 4, pages 31-68 AIEL - Associazione Italiana Economisti del Lavoro.
  10. Alfonso Rosolia & Roberto Torrini, 2007. "The generation gap: relative earnings of young and old workers in Italy," Temi di discussione (Economic working papers) 639, Bank of Italy, Economic Research and International Relations Area.
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  12. Andrea Brandolini & Giovanni D’Alessio & Luigi Cannari & Ivan Faiella, 2004. "Household Wealth Distribution in Italy in the 1990s," Economics Working Paper Archive wp_414, Levy Economics Institute.
  13. cipollone piero & Anita Guelfi, 2006. "The value of flexible contracts; evidence from an italian panel of industrial firms," Temi di discussione (Economic working papers) 583, Bank of Italy, Economic Research and International Relations Area.
  14. Lars Osberg & Andrew Sharpe, 2005. "How Should We Measure The "Economic" Aspects Of Well-Being? ," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(2), pages 311-336, 06.
  15. Osberg, Lars & Sharpe, Andrew, 2002. "An Index of Economic Well-Being for Selected OECD Countries," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(3), pages 291-316, September.
  16. Andrew Sharpe & Lars Osberg, 2009. "New Estimates of the Index of Economic Well-being for Selected OECD Countries, 1981 - 2007," CSLS Research Reports 2009-11, Centre for the Study of Living Standards.
  17. Osberg, L. & Sharpe, A., 1998. "An Index of Economic Well-being for Canada," Department of Economics at Dalhousie University working papers archive 98-08, Dalhousie, Department of Economics.
  18. Barbieri Paolo & Scherer Stefani, 2005. "Le conseguenze sociali della flessibilizzazione del mercato del lavoro in Italia," Stato e mercato, Società editrice il Mulino, issue 2, pages 291-322.
  19. cipollone piero, 2001. "Is the Italian Labour market segmented?," Temi di discussione (Economic working papers) 400, Bank of Italy, Economic Research and International Relations Area.
  20. Andrew Sharpe, 1999. "A Survey of Indicators of Economic and Social Well-being," CSLS Research Reports 99wb, Centre for the Study of Living Standards.
  21. Lars Osberg, 1998. "Economic Insecurity," Discussion Papers 0088, University of New South Wales, Social Policy Research Centre.
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Citations

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Cited by:
  1. Modena, Francesca & Rondinelli, Concetta & Sabatini, Fabio, 2012. "Economic insecurity and fertility intentions: the case of Italy," MPRA Paper 36353, University Library of Munich, Germany.
  2. Gabriella Berloffa & Francesca Modena & Paola Villa, 2011. "Inequality of opportunity for young people in Italy: Understanding the role of circumstances," Working Papers 241, ECINEQ, Society for the Study of Economic Inequality.

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