Vulnerability to Poverty

Cesar Calvo and Stefan Dercon

No 2007-03, CSAE Working Paper Series from Centre for the Study of African Economies, University of Oxford

Abstract: Standard poverty analysis makes statements about deprivation after the veil of uncertainty has been lifted. Nonetheless, the term 'vulnerability' has been used as a tool to remark that uncertainty and risk do matter. In this paper, we define 'vulnerability to poverty' as the magnitude of the threat of poverty, measured ex-ante, before uncertainty is resolved. We describe the desirable properties of a vulnerability measure as a set of axioms, and present a family of measures satisfying our desiderata at the individual level. We also propose a family of measures of aggregate vulnerability, a concept which has remained largely unexplored thus far.

Keywords: vulnerability; poverty (search for similar items in EconPapers)
JEL-codes: D81 I31 I32 (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (27)

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