The dimension,nature and distribution of economic insecurity in European countries: A multidimensional approach |
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Institution: | 1. Universidad de Alcalá & EQUALITAS, Departamento de Economía, Facultad de CC. Económicas, Empresariales y Turismo, Universidad de Alcalá, Plaza de la Victoria, 2, 28802 Alcalá de Henares, Madrid, Spain;2. Universidad de Alcalá, Departamento de Economía, Facultad de CC. Económicas, Empresariales y Turismo, Universidad de Alcalá, Plaza de la Victoria, 2, 28802 Alcalá de Henares, Madrid, Spain;1. Department of Economics, Universität Hamburg and GIGA, Von-Melle-Park 5, D-20146 Hamburg, Germany;2. Department of Economics and Business, Aarhus University, Fuglesangs Allé 4, DK-8210 Aarhus V, Denmark;1. School of Accountancy / Institute of Accounting and Finance, Shanghai University of Finance and Economics, Shanghai, China;2. International School of Business and Finance, Sun Yat-sen University, Guangzhou, China;3. School of Accountancy, Nanjing University of Finance and Economics, Nanjing, China;4. School of Management, Shandong University, Jinan, China;1. Earth Institute, Columbia University, New York, NY 10027, USA;1. Institute for Mental Health Policy Research, Centre for Addiction and Mental Health, Toronto, Ontario, Canada;2. Dalla Lana School of Public Health, University of Toronto, Toronto, Ontario, Canada |
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Abstract: | Economic insecurity is a key well-being outcome because the anticipation of future economic distress reveals itself as a true threat to current well-being. Insecurity has been shown to affect quality of life and to change an individual’s consumption, fertility, labor supply and even political support decisions to mitigate risk. This paper provides evidence on the dimension, nature and distribution of economic insecurity for 27 European countries during a whole decade by using a multidimensional individual approach that considers both objective and subjective indicators. The young, the less educated and the unemployed living in households with dependent children have significantly higher levels of economic insecurity everywhere. However, insecurity affects the population in the middle class only in some countries but not in others, and the level of insecurity in liberal regimes is more linked to large income losses than elsewhere. The role of objective versus subjective dimensions is larger in post-transition Eastern European regimes than in long-standing capitalist countries. |
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Keywords: | Economic insecurity Welfare regimes Counting approach Multidimensional index European countries D63 I39 |
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