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Poverty Measurement Under Risk Aversion Using Panel Data

  • 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)

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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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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  1. George J. Borjas & Stephen G. Bronars, 1988. "Consumer Discrimination and Self-Employment," NBER Working Papers 2627, National Bureau of Economic Research, Inc.
  2. 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.
  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. 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.
  5. Hildreth, Clifford & Knowles, Glenn J., 1982. "Some Estimates of Farmers' Utility Functions," Technical Bulletins 54545, University of Minnesota, Agricultural Experiment Station.
  6. repec:cup:cbooks:9780521803106 is not listed on IDEAS
  7. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
  8. Neil McCulloch & Bob Baulch, 2000. "Simulating the Impact of Policy upon Chronic and Transitory Poverty in Rural Pakistan," Econometrics 0004003, EconWPA.
  9. repec:ebl:ecbull:v:9:y:2003:i:1:p:1-10 is not listed on IDEAS
  10. 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.
  11. Paul Makdissi & Quentin Wodon, 2003. "Risk-adjusted measures of wage inequality and safety nets," Economics Bulletin, AccessEcon, vol. 9(1), pages 1-10.
  12. Friend, Irwin & Blume, Marshall E, 1975. "The Demand for Risky Assets," American Economic Review, American Economic Association, vol. 65(5), pages 900-922, December.
  13. repec:cup:cbooks:9780521004923 is not listed on IDEAS
  14. Stephen P. Jenkins, 2000. "Modelling household income dynamics," Journal of Population Economics, Springer, vol. 13(4), pages 529-567.
  15. 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.
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