Measuring Economic Insecurity
AbstractWe provide a systematic treatment of the notion of economic insecurity, assuming that an individual’s sentiment of insecurity depends on the current wealth level and its variations experienced in the past. We think of wealth as a comprehensive variable encompassing anything that may help in coping with adverse occurrences. The current wealth level could also be interpreted as incorporating the individual’s evaluation of future prospects. Variations in wealth experienced in the recent past are given higher weight than experiences that occurred in the more distant past. Two classes of measures are characterized with sets of plausible and intuitive axioms.
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Bibliographic InfoPaper provided by ECINEQ, Society for the Study of Economic Inequality in its series Working Papers with number 111.
Length: 18 pages
Date of creation: 2009
Date of revision:
Insecurity; Wealth Distribution; Social Index Numbers;
Other versions of this item:
- Walter Bossert & Conchita D'Ambrosio, 2013. "Measuring Economic Insecurity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54, pages 1017-1030, 08.
- Bossert, Walter & D'Ambrosio, Conchita, 2013. "Measuring Economic Insecurity," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- BOSSERT, Walter & D'AMBROSIO, Conchita, 2009. "Measuring Economic Insecurity," Cahiers de recherche, Centre interuniversitaire de recherche en Ã©conomie quantitative, CIREQ 07-2009, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- BOSSERT, Walter & D’AMBROSIO, Conchita, 2009. "Measuring Economic Insecurity," Cahiers de recherche, Universite de Montreal, Departement de sciences economiques 2009-06, Universite de Montreal, Departement de sciences economiques.
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-04-13 (All new papers)
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