Economic insecurity and variations in resources

Walter Bossert and Conchita D'Ambrosio

No 422, Working Papers from ECINEQ, Society for the Study of Economic Inequality

Abstract: Economic insecurity is a term used to describe the uncertainty surrounding economic aspects of people’s lives. Clearly, this is a multi-faceted issue and a comprehensive formal definition that subsumes all possible aspects of it is likely to remain difficult to be agreed upon for some time to come. We characterize a class of individual economic insecurity measures based on variations in economic resources. The measures involve three easily interpretable parameters and can be computed using currently available household longitudinal data. Our proposal provides a simple and intuitively appealing criterion to assist policy makers in assessing and ameliorating economic insecurity.

Keywords: Insecurity; Resource Variations; Geometric Discounting; Economic Index Numbers. (search for similar items in EconPapers)
JEL-codes: D63 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2016-12
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Citations: View citations in EconPapers (13)

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