Final version_(Ref_MS 2010017).pdf (769 kB)
Measuring poverty using both income and wealth: A cross-country comparison between the U.S. and Spain
We study the correspondence between a householdís income and its vulnerability
to income shocks in two developed countries: the U.S. and Spain. Vulnerability is
measured by the availability of wealth to smooth consumption in a multidimensional
approach to poverty, which allows us to identify three groups of households: the
twice-poor group which includes income-poor households who lack of an adequate
stock of wealth; the group of protected-poor households, which are all those incomepoor families with a bu§er stock of wealth they can rely on; lastly, the vulnerablenon-poor group, including households above the income-poverty line that do not
hold any stock of wealth. Interestingly, the risk of belonging to these groups changes
over the life-cycle in both countries while the size of the groups di§ers signiÖcantly
between Spain and the U.S., although this result is quite sensitive to whether the
housing wealth component is included in the wealth measure or not.
Funding
Financial support from the Xunta de Galicia (10SEC300023PR), the Ministerio de Ciencia e InnovaciÛn (ECO2010-21668-C03-03) , and the Pedro BarriÈ de la Maza Foundation is gratefully acknowledged.
History
School
- Social Sciences
Department
- Communication, Media, Social and Policy Studies
Published in
Review of Income and WealthVolume
58Issue
1Pages
24 - 50Citation
AZPITARTE, F., 2012. Measuring poverty using both income and wealth: A cross-country comparison between the U.S. and Spain. Review of Income and Wealth, 58(1), pp. 24 - 50.Publisher
© 2011 The Author © 2011 International Association for Research in Income and Wealth. Published by WileyVersion
- AM (Accepted Manuscript)
Publisher statement
This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/Publication date
2012Notes
This is the peer reviewed version of the following article: AZPITARTE, F., 2012. Measuring poverty using both income and wealth: A cross-country comparison between the U.S. and Spain. Review of Income and Wealth, 58(1), pp. 24 - 50, which has been published in final form at https://doi.org/10.1111/j.1475-4991.2011.00481.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions.ISSN
0034-6586Publisher version
Language
- en