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Economic insecurity: empirical findings

In: Handbook of Research on Economic and Social Well-Being

Author

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  • Lars Osberg

Abstract

The chapter discusses how economic insecurity has been measured, and the implications of different measurement strategies. After clarifying the common conceptual elements in available definitions of economic insecurity, it presents a summary of the four main measurement strategies developed in the current emerging empirical literature on economic insecurity, which emphasize: (1) large income losses; (2) the buffering role of wealth; (3) income volatility relative to personal trend; and (4) the hazards of unemployment, illness, family break-up and old age. Although there is now no consensus on which measurement method produces the best explanatory measure of economic insecurity, results are qualitatively similar and robust across different methods. Concluding remarks emphasize the importance of economic insecurity for public policy.

Suggested Citation

  • Lars Osberg, 2018. "Economic insecurity: empirical findings," Chapters, in: Conchita D’Ambrosio (ed.), Handbook of Research on Economic and Social Well-Being, chapter 14, pages 316-338, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15128_14
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    Cited by:

    1. Conchita D’Ambrosio & Andrew E. Clark & Rémi Yin, 2023. "Economic Insecurity and Health," Hacienda Pública Española / Review of Public Economics, IEF, vol. 247(4), pages 69-89, December.
    2. Olga Cantó & Carmelo García Pérez & Marina Romaguera de la Cruz, 2023. "The Role of Tax-Benefit Systems in Shaping Economic Insecurity in the European Union," Hacienda Pública Española / Review of Public Economics, IEF, vol. 247(4), pages 7-36, December.
    3. Olga Cantó & Carmelo García-Pérez & Marina Romaguera de la Cruz, 2021. "Multidimensional Measures of Economic Insecurity in Spain: The Role of Aggregation and Weighting Methods," Hacienda Pública Española / Review of Public Economics, IEF, vol. 238(3), pages 29-60, September.

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