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THE DISTRIBUTION OF ECONOMIC INSECURITY: ITALY AND THE U.S. OVER THE GREAT RECESSION

机译:经济不安全的分布:经济大衰退期间的意大利和美国

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We estimate the distribution of economic insecurity in Italy and the U.S. using data from 1994 to 2010. Economic insecurity for each individual is assumed to depend on both current wealth and the changes in wealth that have been experienced in the past. The first element plays the role of the buffer stock that can be relied on in the case of an adverse future event. The second element reflects the individual's confidence in his ability to overcome any losses in the future. With respect to this second element, experiences in the recent past are given greater weight than experiences that occurred in the more distant past. The results confirm that the great recession has had a dramatic effect on the distribution of economic insecurity in both countries with the effect being much stronger in the U.S..
机译:我们使用1994年至2010年的数据估算了意大利和美国的经济不安全状况分布。假定每个人的经济不安全状况都取决于当前的财富和过去经历的财富变化。第一个要素起着缓冲库存的作用,在发生不利的未来事件时可以依靠该缓冲库存。第二个要素反映了个人对自己克服未来损失的能力的信心。关于第二个要素,与过去相比,最近的经验具有更大的重要性。结果证实,严重的衰退对两国经济不安全的分布产生了巨大影响,而在美国影响更大。

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