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Measuring Economic Insecurity

Walter Bossert () and Conchita D'Ambrosio ()

No 8, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: We provide an axiomatic treatment of the measurement of economic insecurity, assuming that individual insecurity depends on the current wealth level and its variations experienced in the past. The first component plays the role of a buffer stock to rely on in case of an adverse future event. The second component determines the confidence an individual has on his ability to overcome a loss in the future. Experiences in the recent past are given higher weight than experiences that occurred in the more distant past. Two classes of measures are characterized with sets of plausible and intuitive axioms.

Keywords: Methodology (Economics); Index numbers (Economics); Wealth (search for similar items in EconPapers)
Date: 2013
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Related works:
Journal Article: MEASURING ECONOMIC INSECURITY (2013) Downloads
Working Paper: Measuring Economic Insecurity (2009) Downloads
Working Paper: Measuring Economic Insecurity (2009) Downloads
Working Paper: Measuring Economic Insecurity (2009) Downloads
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