Multidimensional Measures of Economic Insecurity in Spain: The Role of Aggregation and Weighting Methods

Olga Cantó, Carmelo García-Pérez () and Marina Romaguera de la Cruz ()
Additional contact information
Carmelo García-Pérez: Universidad de Alcalá
Marina Romaguera de la Cruz: Universidad Antonio de Nebrija and EQUALITAS

Hacienda Pública Española / Review of Public Economics, 2021, vol. 238, issue 3, 29-60

Abstract: Economic insecurity is a relevant dimension of well-being. The limited availability of subjective expectations’ surveys makes multidimensional insecurity indices based on living conditions surveys a valuable alternative. We study differences in synthetic indicators of insecurity for Spain using different methods to aggregate and weigh dimensions. We show that its evolution and distribution is robust to the aggregation procedure, even though levels do differ. All procedures present strengths and weaknesses but the counting approach has a direct economic interpretation and can better capture insecurity in the middle classes. Other aggregation methods are less transparent and give more relevance to extreme situations.

Keywords: Economic insecurity; Objective and subjective measures; Polyserial correlations; Counting approach; EU-SILC. (search for similar items in EconPapers)
JEL-codes: D69 I39 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://hpe-rpe.org/wp-admin/admin-ajax.php?juwpfi ... 2aa8a153e5&preview=1 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hpe:journl:y:2021:v:238:i:3:p:29-60

Access Statistics for this article

More articles in Hacienda Pública Española / Review of Public Economics from IEF Contact information at EDIRC.
Bibliographic data for series maintained by Miguel Gómez de Antonio ().