Modelling Vulnerability in the UK

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Modelling Vulnerability in the UK

Author Info

Sanghamitra Bandyopadhyay
Frank Cowell

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Abstract

In this paper we examine the concept of "vulnerability" (Townsend 1994) within the context of income mobility of the poor. We test for the dynamics of vulnerable households in the UK using Waves 1 - 12 of the British Household Panel Survey and find that, of three different types of risks that we test for, household-specific shocks and economy-wide aggregate shocks have the greatest impact on consumption, in comparison to shocks to the income stream. Quantile-specific estimates reveal specific quantiles, particularly those around the poverty line which are most susceptible to be vulnerable to shocks to the income stream. The estimates are found to be robust to household composition and year-specific shocks.

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Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 313.

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Date of creation: 2007
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Handle: RePEc:oxf:wpaper:313

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Paper
- Sanghamitra Bandyopadhyay & Frank A Cowell, 2007. "Modelling Vulnerability in the UK," STICERD - Distributional Analysis Research Programme Papers 89, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]

Find related papers by JEL classification:
D1 - Microeconomics - - Household Behavior
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
I32 - Health, Education, and Welfare - - Welfare and Poverty - - - Measurement and Analysis of Poverty

This paper has been announced in the following NEP Reports:

NEP-ALL-2007-04-14 (All new papers)
NEP-EEC-2007-04-14 (European Economics)
NEP-LTV-2007-04-14 (Unemployment, Inequality & Poverty)

References listed on IDEAS
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Richard Blundell & Ian Preston, 1998. "Consumption Inequality And Income Uncertainty," The Quarterly Journal of Economics, MIT Press, vol. 113(2), pages 603-640, May. [Downloadable!] (restricted)
Other versions:
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