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THE ECONOMIC SECURITY INDEX: A NEW MEASURE FOR RESEARCH AND POLICY ANALYSIS

机译:经济安全指数:研究和政策分析的新手段

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This article presents the Economic Security Index (ESI), a new measure of economic insecurity. The ESI assesses the individual-level occurrence of substantial year-to-year declines in available household resources, accounting for fluctuations not only in income but also in out-of-pocket medical expenses. It also assesses whether those experiencing such declines have sufficient liquid financial wealth to buffer against these shocks. We find that insecurity-the share of individuals experiencing substantial resource declines without adequate financial buffers-has risen steadily since the mid-1980s for virtually all subgroups of Americans, albeit with cyclical fluctuation. At the same time, we find that there is substantial disparity in the degree to which different subgroups are exposed to economic risk. As the ESI derives from a data-independent conceptual foundation, it can be measured using different panel datasets. We find that the degree and disparity by which insecurity has risen is robust across the best available sources.
机译:本文介绍了经济安全指数(ESI),这是一种衡量经济不安全的新方法。 ESI评估了个人层面上可用家庭资源逐年大幅下降的情况,不仅考虑了收入的波动,还考虑了自付费用的医疗费用。它还评估那些经历了这种下降的人是否有足够的流动金融财富来缓冲这些冲击。我们发现,自1980年代中期以来,几乎所有美国人群的不安全感(遭受资源大量减少而没有大量资金缓冲的个人比例)一直在稳步上升,尽管存在周期性波动。同时,我们发现不同子群体面临经济风险的程度存在很大差异。由于ESI源自与数据无关的概念基础,因此可以使用不同的面板数据集进行测量。我们发现,在可获得的最佳信息来源中,不安全感上升的程度和差异是强大的。

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