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The dimension, nature and distribution of economic insecurity in European countries: A multidimensional approach

Olga Cantó (), Carmelo García-Pérez () and Marina Romaguera-de-la-Cruz ()
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Carmelo García-Pérez: Universidad de Alcalá
Marina Romaguera-de-la-Cruz: Universidad de Alcalá

No 500, Working Papers from ECINEQ, Society for the Study of Economic Inequality

Abstract: Economic insecurity is a key well-being outcome because the anticipation of future economic distress reveals itself as a true threat to current well-being. Insecurity has been shown to affect quality of life and to change an individual’s consumption, fertility, labor supply and even political support decisions to mitigate risk. This paper provides evidence on the dimension, nature and distribution of economic insecurity for 27 EU countries during a whole decade by using a multidimensional individual approach that considers both objective and subjective indicators. The young, the less educated and the unemployed living in households with dependent children have significantly higher levels of economic insecurity everywhere. However, insecurity affects the population in the middle-class only in some countries but not in others, and the level of insecurity in liberal regimes is more linked to large income losses than elsewhere. The role of objective versus subjective dimensions is larger in post-transition Eastern European regimes than in longstanding capitalist countries.

Keywords: economic insecurity; welfare regimes; counting approach; multidimensional index; European countries. (search for similar items in EconPapers)
JEL-codes: D63 I31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eur
Date: 2019-07
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