Measuring Vulnerability: The Director's Cut

Ethan Ligon and Laura Schechter

No DP2002-86, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Traditional poverty measures neglect several important dimensions of household welfare. In this paper we construct a measure of 'vulnerability' which allows us to quantify the welfare loss associated with poverty as well as the loss associated with any of a variety of different sources of uncertainty. Applying our measure to a panel dataset from Bulgaria in 1994, we find that poverty and risk play roughly equal roles in reducing welfare.

Keywords: Poverty; Poverty measurement; Risk (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (11)

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