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Erscheinungsjahr: 
2003
Schriftenreihe/Nr.: 
Tinbergen Institute Discussion Paper No. 03-070/2
Verlag: 
Tinbergen Institute, Amsterdam and Rotterdam
Zusammenfassung: 
Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The results indicate that vulnerability is very sensitive to the time horizon considered. We find that the accuracy of existing regression-based vulnerability measures can be greatly improved by including asset measures in the regression.
Schlagwörter: 
vulnerability
expected poverty
risk
Ramsey model
consumption regressions
JEL: 
D12
D60
D91
O12
Dokumentart: 
Working Paper
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