Handbook of Research on Economic and Social Well-Being
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Handbook of Research on Economic and Social Well-Being

Edited by Conchita D’Ambrosio

The past decade has been characterized by a burgeoning interest in new concepts of individual and social well-being. The impetus for this new research has stemmed from increased demand from policy makers and civil society for measures of progress that go beyond the traditional measures of GDP, as well as improved datasets allowing individuals and households to be tracked over their life course. The aim of this Handbook is to chart these developments and provide extensive surveys of many of the recent themes that have emerged in the research literature. Some of the topics addressed include poverty. relative deprivation and satisfaction, economic insecurity, social exclusion and inequality, income and social polarization, and social fractionalization and diversity. Each topic is first analyzed from a theoretical perspective, followed by detailed empirical discussion.
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Chapter 13: Economic insecurity: theoretical approaches

Nicholas Rohde and Kam Ki Tang

Abstract

Research on economic insecurity has been largely neglected by the literature up until recently, partly due to its highly subjective and idiosyncratic nature, and partly due to the fact that it deals with unobservable forward-looking expectations. These underlying issues make objective and comprehensive measurement difficult, and a commonly accepted framework for the analysis of economic insecurity is yet to be established. This chapter aims at focusing on the discussion of some of the generally agreed-upon issues around the measurement of economic insecurity, by providing a notion of this concept in the context of welfare analysis and introducing different approaches to its measurement. Final remarks stress that current measurement techniques are still exploratory rather than definitive.

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