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Poverty Measurement Under Risk Aversion Using Panel Data

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Author Info

  • Paul MAKDISSI

    ()
    (D´epartement d’´economique and CEREF, Universit´e de Sherbrooke, 2550 boulevard de l’Universit´e, Sherbrooke, Qu´ebec, Canada, J1K 2R1)

  • Quentin WODON

    ()
    (LCSPR, World Bank, 1818 H Street, NW, Washington, DC 20433, USA)

  • Guillermo Cruces

    ()
    (STICERD, London School of Economics, Houghton Street, London, WC2A 2AE,United Kingdom)

Abstract

This paper shows how to take into account risk aversion when measuring poverty under income variability. An application to British panel data suggests that income and poverty comparisons between the self-employed and other groups of households are sensitive to assumptions on the degree of risk aversion. The results point to the importance of panel data in order to account for risk aversion and income variability in the measurement of poverty.

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File URL: http://gredi.recherche.usherbrooke.ca/wpapers/03_06_pm.pdf
File Function: First version, 2003
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Bibliographic Info

Paper provided by Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke in its series Cahiers de recherche with number 03-06.

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Length: 24 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:shr:wpaper:03-06

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Postal: Sherbrooke, Québec, J1K 2R1
Phone: (819) 821-7233
Fax: (819) 821-6930
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Web page: http://www.gredi.org/home/documents-de-travail
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Keywords: Poverty; Risk; Self-employment; Panel data;

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References

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  1. Friend, Irwin & Blume, Marshall E, 1975. "The Demand for Risky Assets," American Economic Review, American Economic Association, vol. 65(5), pages 900-922, December.
  2. Stephen P. Jenkins, 2000. "Modelling household income dynamics," Journal of Population Economics, Springer, vol. 13(4), pages 529-567.
  3. Foster, James & Greer, Joel & Thorbecke, Erik, 1984. "A Class of Decomposable Poverty Measures," Econometrica, Econometric Society, vol. 52(3), pages 761-66, May.
  4. repec:ebl:ecbull:v:9:y:2003:i:1:p:1-10 is not listed on IDEAS
  5. Parker, Simon C, 1999. "The Inequality of Employment and Self-Employment Incomes: A Decomposition Analysis for the U.K," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 45(2), pages 263-74, June.
  6. George J. Borjas & Stephen G. Bronars, 1989. "Consumer Discrimination and Self-Employment," NBER Working Papers 2627, National Bureau of Economic Research, Inc.
  7. Bradbury,Bruce & Jenkins,Stephen P. & Micklewright,John (ed.), 2001. "The Dynamics of Child Poverty in Industrialised Countries," Cambridge Books, Cambridge University Press, number 9780521004923, December.
  8. Jyotsna Jalan & Martin Ravallion, 2000. "Is transient poverty different? Evidence for rural China," Journal of Development Studies, Taylor & Francis Journals, vol. 36(6), pages 82-99.
  9. Simon C. Parker, 2003. "The distribution of wealth of older self-employed Britons," Fiscal Studies, Institute for Fiscal Studies, vol. 24(1), pages 23-43, March.
  10. Hildreth, Clifford & Knowles, Glenn J., 1982. "Some Estimates of Farmers' Utility Functions," Technical Bulletins 54545, University of Minnesota, Agricultural Experiment Station.
  11. Rees, Hedley & Shah, Anup, 1986. "An Empirical Analysis of Self-employment in the U.K," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(1), pages 95-108, January.
  12. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
  13. Bradbury,Bruce & Jenkins,Stephen P. & Micklewright,John (ed.), 2001. "The Dynamics of Child Poverty in Industrialised Countries," Cambridge Books, Cambridge University Press, number 9780521803106, December.
  14. Paul Makdissi & Quentin Wodon, 2003. "Risk-adjusted measures of wage inequality and safety nets," Economics Bulletin, AccessEcon, vol. 9(1), pages 1-10.
  15. Neil McCulloch & Bob Baulch, 2000. "Simulating the Impact of Policy upon Chronic and Transitory Poverty in Rural Pakistan," Econometrics 0004003, EconWPA.
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Citations

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Cited by:
  1. Guillermo Cruces, 2005. "Income fluctuation, poverty and well-being over time: theory and application to Argentina," LSE Research Online Documents on Economics 6545, London School of Economics and Political Science, LSE Library.
  2. Pene Kalulumia & Denis Bolduc, 2004. "Generalized Mixed Estimation Of A Multinomial Discretecontinuous Choice Model For Electricity Demand," Cahiers de recherche 04-01, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke.
  3. Guillermo Cruces, 2005. "Income Fluctuation, Poverty and Well-Being Over Time: Theory and Application to Argentina," STICERD - Distributional Analysis Research Programme Papers 76, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  4. Nouve, Kofi & Bambio, Yiriyibin & Kabore, Samuel & Wodon, Quentin, 2010. "Risque et mesures de la pauvreté rurale au Burkina Faso
    [Risk and Measures of Rural Poverty in Burkina Faso]
    ," MPRA Paper 34374, University Library of Munich, Germany.
  5. Petr Hanel, 2003. "Impact Of Government Support Programs On Innovation By Canadian Manufacturing Firms," Cahiers de recherche 04-02, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke.
  6. Paul MAKDISSI & Quentin WODON, 2004. "Price Liberalization and Farmer Welfare Under Risk Aversion: Cotton in Benin and Ivory Coast," Cahiers de recherche 04-09, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke.

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