Economic insecurity: empirical findings

Lars Osberg

Chapter 14 in Handbook of Research on Economic and Social Well-Being, 2018, pp 316-338 from Edward Elgar Publishing

Abstract: The chapter discusses how economic insecurity has been measured, and the implications of different measurement strategies. After clarifying the common conceptual elements in available definitions of economic insecurity, it presents a summary of the four main measurement strategies developed in the current emerging empirical literature on economic insecurity, which emphasize: (1) large income losses; (2) the buffering role of wealth; (3) income volatility relative to personal trend; and (4) the hazards of unemployment, illness, family break-up and old age. Although there is now no consensus on which measurement method produces the best explanatory measure of economic insecurity, results are qualitatively similar and robust across different methods. Concluding remarks emphasize the importance of economic insecurity for public policy.

Keywords: Economics and Finance; Social Policy and Sociology (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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