IDEAS home Printed from https://ideas.repec.org/p/ese/cempwp/cempa1-20.html
   My bibliography  Save this paper

Measuring economic insecurity: a review of the literature

Author

Listed:
  • Richiardi, Matteo
  • He, Zhechun

Abstract

Economic (in)security is attracting a growing interest in the social policy debate. However, there is a lack of consensus about how to measure it. In this paper we review the existing measures of economic insecurity, with a particular emphasis on objective measures. Our assessment is that all the measures are to some extent arbitrary, and that no clear consensus has so far emerged in the literature. This stems from some analytical confusion that still surrounds the concept, and from the lack of clear normative foundations. We also identify and discuss some characteristics that ideal measures of economic insecurity should have.

Suggested Citation

  • Richiardi, Matteo & He, Zhechun, 2020. "Measuring economic insecurity: a review of the literature," Centre for Microsimulation and Policy Analysis Working Paper Series CEMPA1/20, Centre for Microsimulation and Policy Analysis at the Institute for Social and Economic Research.
    • Handle: RePEc:ese:cempwp:cempa1-20
    as

    Download full text from publisher

    File URL: https://www.iser.essex.ac.uk/wp-content/uploads/files/working-papers/cempa/cempa1-20.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jacob S. Hacker & Gregory A. Huber & Austin Nichols & Philipp Rehm & Mark Schlesinger & Rob Valletta & Stuart Craig, 2014. "The Economic Security Index: A New Measure for Research and Policy Analysis," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 5-32, May.
    2. Annalisa Busetta & Daria Mendola & Daniele Vignoli, 2019. "Persistent joblessness and fertility intentions," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 40(8), pages 185-218.
    3. repec:hal:wpspec:info:hdl:2441/5l6uh8ogmqildh09h4687h53k is not listed on IDEAS
    4. Green, Francis & Felstead, Alan & Burchell, Brendan, 2000. "Job Insecurity and the Difficulty of Regaining Employment: An Empirical Study of Unemployment Expectations," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 62(0), pages 855-883, Special I.
    5. Barr, Nicholas, 1992. "Economic Theory and the Welfare State: A Survey and Interpretation," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 741-803, June.
    6. Barr, Nicholas, 1992. "Economic theory and the welfare state : a survey and interpretation," LSE Research Online Documents on Economics 279, London School of Economics and Political Science, LSE Library.
    7. Joseph Stiglitz & Amartya Sen & Jean-Paul Fitoussi, 2009. "The measurement of economic performance and social progress revisited: Reflections and Overview," Sciences Po publications 2009-33, Sciences Po.
    8. Daniel Feenberg & Elisabeth Coutts, 1993. "An introduction to the TAXSIM model," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 12(1), pages 189-194.
    9. repec:hal:spmain:info:hdl:2441/5l6uh8ogmqildh09h4687h53k is not listed on IDEAS
    10. repec:bla:revinw:v:60:y:2014:i::p:s159-s176 is not listed on IDEAS
    11. Linz, Susan J. & Semykina, Anastasia, 2010. "Perceptions of economic insecurity: Evidence from Russia," Economic Systems, Elsevier, vol. 34(4), pages 357-385, December.
    12. Yotam Margalit, 2019. "Economic Insecurity and the Causes of Populism, Reconsidered," Journal of Economic Perspectives, American Economic Association, vol. 33(4), pages 152-170, Fall.
    13. Frey, Carl Benedikt & Osborne, Michael A., 2017. "The future of employment: How susceptible are jobs to computerisation?," Technological Forecasting and Social Change, Elsevier, vol. 114(C), pages 254-280.
    14. Joseph E. Stiglitz & Amartya Sen & Jean-Paul Fitoussi, 2009. "The measurement of economic performance and social progress revisited," Documents de Travail de l'OFCE 2009-33, Observatoire Francais des Conjonctures Economiques (OFCE).
    15. Nicholas Rohde & Kam Ki Tang & Lars Osberg & D.S. Prasada Rao, 2015. "Economic Insecurity in Australia: Who is Feeling the Pinch and How?," The Economic Record, The Economic Society of Australia, vol. 91(292), pages 1-15, March.
    16. Lars Osberg & Andrew Sharpe, 2014. "Measuring Economic Insecurity in Rich and Poor Nations," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 53-76, May.
    17. repec:bla:revinw:v:60:y:2014:i::p:s5-s32 is not listed on IDEAS
    18. Kenneth Scheve & Matthew J. Slaughter, 2004. "Economic Insecurity and the Globalization of Production," American Journal of Political Science, John Wiley & Sons, vol. 48(4), pages 662-674, October.
    19. Daniel Ciganda, 2015. "Unstable work histories and fertility in France," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 32(28), pages 843-876.
    20. Alexander Hijzen & Bálint Menyhért, 2016. "Measuring Labour Market Security and Assessing its Implications for Individual Well-Being," OECD Social, Employment and Migration Working Papers 175, OECD Publishing.
    21. Lars Osberg & Andrew Sharpe, 2002. "An Index of Economic Well–Being for Selected OECD Countries," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(3), pages 291-316, September.
    22. Nicholas Rohde & Kam Ki Tang & D.S. Prasada Rao, 2014. "Distributional Characteristics of Income Insecurity in the U.S., Germany, and Britain," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 159-176, May.
    23. Ljubica Nedelkoska & Glenda Quintini, 2018. "Automation, skills use and training," OECD Social, Employment and Migration Working Papers 202, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Richiardi, Matteo & He, Zhechun, 2020. "Measuring economic insecurity: a simulation approach," Centre for Microsimulation and Policy Analysis Working Paper Series CEMPA2/20, Centre for Microsimulation and Policy Analysis at the Institute for Social and Economic Research.
    2. Brian Buh, 2021. "Measuring the Effect of Employment uncertainty on Fertility in Europe (A literature review)," VID Working Papers 2103, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
    3. Joaquín Prieto, 2022. "A Multidimensional Approach to Measuring Economic Insecurity: The Case of Chile," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 163(2), pages 823-855, September.
    4. Cantó, Olga & García-Pérez, Carmelo & Romaguera-de-la-Cruz, Marina, 2020. "The dimension, nature and distribution of economic insecurity in European countries: A multidimensional approach," Economic Systems, Elsevier, vol. 44(3).
    5. Staudigel, Matthias, 2016. "A soft pillow for hard times? Economic insecurity, food intake and body weight in Russia," Journal of Health Economics, Elsevier, vol. 50(C), pages 198-212.
    6. Prieto Suarez, Joaquin, 2022. "A multidimensional approach to measuring economic insecurity: the case of Chile," LSE Research Online Documents on Economics 114623, London School of Economics and Political Science, LSE Library.
    7. Marina Romaguera‐de‐la‐Cruz, 2020. "Measuring Economic Insecurity Using a Counting Approach. An Application to Three EU Countries," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 66(3), pages 558-583, September.
    8. Marina Romaguera de la Cruz, 2017. "Economic insecurity in Spain: A multidimensional analysis," Working Papers 448, ECINEQ, Society for the Study of Economic Inequality.
    9. Belmonte, A & Pickard, H, 2022. "Safe at Last? LATE Effects of a Mass Immunization Campaign on Households’ Economic Insecurity," CAGE Online Working Paper Series 604, Competitive Advantage in the Global Economy (CAGE).
    10. Dmitry Petrov & Marina Romaguera-de-la-Cruz, 2023. "Measuring economic insecurity with a joint income-wealth approach," Working Papers 637, ECINEQ, Society for the Study of Economic Inequality.
    11. Joaquín Prieto, 2021. "A multidimensional approach to measuring economic insecurity: The case of Chile," Working Papers 591, ECINEQ, Society for the Study of Economic Inequality.
    12. Prieto, Joaquin, 2021. "A multidimensional approach to measuring economic insecurity: the case of Chile," LSE Research Online Documents on Economics 112490, London School of Economics and Political Science, LSE Library.
    13. Nicholas Rohde & Kam Ki Tang & Prasada Rao, 2011. "Income volatility and insecurity in the U.S., Germany and Britain," Discussion Papers Series 434, School of Economics, University of Queensland, Australia.
    14. Lordan, Grace & Stringer, Eliza-Jane, 2022. "People versus machines: The impact of being in an automatable job on Australian worker’s mental health and life satisfaction," Economics & Human Biology, Elsevier, vol. 46(C).
    15. Trenton G. Smith & Steven Stillman & Stuart Craig, 2024. "“Rational overeating” in a feast‐or‐famine world: Economic insecurity and the obesity epidemic," Southern Economic Journal, John Wiley & Sons, vol. 90(3), pages 634-655, January.
    16. Romina Boarini & Lars Osberg, 2014. "Economic Insecurity: Editors' Introduction," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 1-4, May.
    17. Marek Kośny & Maria Piotrowska, 2019. "Assessment of Economic Security of Households Based on a Scenario Analysis," Economies, MDPI, vol. 7(3), pages 1-20, August.
    18. Staudigel, Matthias, 2015. "A soft pillow for hard times: Effects of economic insecurity on body weight in transitional Russia," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205189, Agricultural and Applied Economics Association.
    19. Olga Cantó & Carmelo García-Pérez & Marina Romaguera de la Cruz, 2021. "Multidimensional Measures of Economic Insecurity in Spain: The Role of Aggregation and Weighting Methods," Hacienda Pública Española / Review of Public Economics, IEF, vol. 238(3), pages 29-60, September.
    20. Rohde, Nicholas & Tang, K.K. & Osberg, Lars & Rao, Prasada, 2016. "The effect of economic insecurity on mental health: Recent evidence from Australian panel data," Social Science & Medicine, Elsevier, vol. 151(C), pages 250-258.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ese:cempwp:cempa1-20. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jonathan Nears (email available below). General contact details of provider: https://edirc.repec.org/data/rcessuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.