Traditional poverty measures neglect several important dimensions of household welfare. In this paper we construct a measure of ``vulnerability'' which allows us to quantify the welfare loss associated with poverty as well as the loss associated with any of a variety of different sources of uncertainty. Applying our measure to a panel dataset from Bulgaria in 1994, we find that poverty and risk play roughly equal roles in reducing welfare. Aggregate shocks are more important than idiosyncratic sources of risk, but households headed by an employed, educated male are less vulnerable to aggregate shocks than are other households.
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|Date of creation:||29 Aug 2002|
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- Ligon, Ethan & Laura Schechter, 2002.
Royal Economic Society Annual Conference 2002
128, Royal Economic Society.
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"Does Microcredit Reach the Poor and Vulnerable? Evidence from Northern Bangldesh,"
99-06, C.V. Starr Center for Applied Economics, New York University.
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- Gérard Roland, 2004.
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MIT Press Books,
The MIT Press,
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- Pritchett, Lant & Suryahadi, Asep & Sumarto, Sudarno, 2000. "Quantifying vulnerability to poverty - a proposed measure, applied to Indonesia," Policy Research Working Paper Series 2437, The World Bank.
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- Christiaensen, Luc J.M. & Boisvert, Richard N., 2000. "On Measuring Household Food Vulnerability: Case Evidence from Northern Mali," Working Papers 127676, Cornell University, Department of Applied Economics and Management.
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