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Impacts of Adding Net Worth to the Poverty Definition

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Author Info
Donald L. Lerman
James J. Mikesell
Abstract

This paper estimates changes in the level and composition of poverty that would result from modifying the conventional income-based poverty measure to include the annuity value of household net worth. Under the new income/wealth measure, 13 percent of those currently measured as poor have enough assets to be removed from poverty. Among those more often found to be in poverty under the new measure are young, renters, and large central city residents. Age, home ownership, farm employment, education, retirement status, public assistance participation, and residence in the West are significant factors in explaining the divergence of the alternative poverty measures.

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File URL: http://college.holycross.edu/eej/Volume14/V14N4P357_370.pdf
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Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

Volume (Year): 14 (1988)
Issue (Month): 4 (Oct-Dec)
Pages: 357-370
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Handle: RePEc:eej:eeconj:v:14:y:1988:i:4:p:357-370

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  1. Habib, Jack & Kohn, Meir & Lerman, Robert, 1977. "The Effect on Poverty Status in Israel of Considering Wealth and Variability of Income," Review of Income and Wealth, Blackwell Publishing, vol. 23(1), pages 17-38, March.
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  1. Edward N. Wolff & Ajit Zacharias & Asena Caner, 2003. "Household Wealth, Public Consumption and Economic Well-Being in the United States," Economics Working Paper Archive 386, Levy Economics Institute, The. [Downloadable!]
    Other versions:
  2. Edward Wolff & Ajit Zacharias, 2009. "Household wealth and the measurement of economic well-being in the United States," Journal of Economic Inequality, Springer, vol. 7(2), pages 83-115, June. [Downloadable!] (restricted)
    Other versions:
  3. Robert Haveman & Edward Wolff, 2004. "The concept and measurement of asset poverty: Levels, trends and composition for the U.S., 1983–2001," Journal of Economic Inequality, Springer, vol. 2(2), pages 145-169, August. [Downloadable!] (restricted)
    Other versions:
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