Measuring Poverty and Economic Inclusion: The Current Poverty Measure, the NAS Alternative, and the Case for a Truly New Approach
AbstractThis report examines the current U.S. poverty measure and finds that it has failed to keep up with public consensus on the minimum amount of income needed to “get along” in the United States in the 21st Century. The author then examines a potential approach to revising the measure, based on recommendations made by a National Academy of Sciences panel in 1995, that improves in some ways on the current measure, but has serious limitations of its own that require further research before it is adopted. Moreover, the NAS approach results in a poverty measure that would remain far below the public’s get-along level. This report concludes by suggesting a truly new approach that the incoming Administration should adopt- a “tiered” poverty and economic-inclusion measure that is modeled on the child poverty measure adopted in 2003 by the United Kingdom.
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Bibliographic InfoPaper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2008-36.
Length: 47 pages
Date of creation: Dec 2008
Date of revision:
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More information through EDIRC
federal poverty line; poverty rate; poverty; NAS poverty rate;
Find related papers by JEL classification:
- D - Microeconomics
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
- I - Health, Education, and Welfare
- I3 - Health, Education, and Welfare - - Welfare and Poverty
- I32 - Health, Education, and Welfare - - Welfare and Poverty - - - Measurement and Analysis of Poverty
This paper has been announced in the following NEP Reports:
- NEP-ACC-2009-01-03 (Accounting & Auditing)
- NEP-ALL-2009-01-03 (All new papers)
- NEP-CFN-2009-01-03 (Corporate Finance)
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- J. Bradford De Long & Andrei Shleifer & Lawrence H. Summers & Robert J. Waldmann, 1987. "The Economic Consequences of Noise Traders," NBER Working Papers 2395, National Bureau of Economic Research, Inc.
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