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A New Metric to Gauge Household Economic Stress: Improving on the Misery Index

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  • Robert A Dye
  • Chad Sutherland

Abstract

We present an improvement on the Misery Index that quantifies the economic stress that households are feeling today. Much of the economic stress in households today stems from the decline in household wealth that has come as a result of falling house prices, so we have added a measure of house price change to the Misery Index. Deteriorating economic conditions in most U.S. regions through the first three quarters of 2008 have resulted in increasing household economic stress as all components of the expanded Household Economic Stress Index increased. The components are the rate of change in the consumer price index, the unemployment rate, and rate of change in house prices. The authors show that this intuitive and simple index is useful in analyzing mortgage delinquencies both nationally and regionally.Business Economics (2009) 44, 109–113. doi:10.1057/be.2009.3

Suggested Citation

  • Robert A Dye & Chad Sutherland, 2009. "A New Metric to Gauge Household Economic Stress: Improving on the Misery Index," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 44(2), pages 109-113.
    • Handle: RePEc:pal:buseco:v:44:y:2009:i:2:p:109-113
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    Cited by:

    1. Thomas M. Fullerton & Ana P. Gutierrez-Zubiate, 2020. "Regional Household Economic Stress and Retail Sales Fluctuations," Business and Economic Research, Macrothink Institute, vol. 10(3), pages 23-34, September.
    2. Thomas M. Fullerton & Patricia Arellano-Olague, 2022. "Short-Term Household Economic Stress Effects on Retail Activity in El Paso, Texas," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 50(1), pages 27-35, June.
    3. Salon, Deborah, 2015. "Heterogeneity in the relationship between the built environment and driving: Focus on neighborhood type and travel purpose," Research in Transportation Economics, Elsevier, vol. 52(C), pages 34-45.

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