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Measurement and identification of asset-poor households: a cross-national comparison of Spain and the United Kingdom

Azpitarte, Francisco (2011) Measurement and identification of asset-poor households: a cross-national comparison of Spain and the United Kingdom. Journal of Economic Inequality, 9 (1). pp. 87-110. ISSN 1569-1721

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Abstract

This paper is concerned with the analysis of the wealth dimension of poverty in developed countries, which cannot be measured by means of information on household income. We focus on identifying the group of households that lack enough wealth holdings to sustain them during a period of economic crisis in order to quantify asset poverty, and its demographic weight, in two industrialized countries with particularly different household demographics and saving attitudes such as Spain and the United Kingdom. Our results show that the age profile of the asset poor is remarkably similar in the two countries. In both it is individuals in households whose head is under 45 years old who are more likely to be asset poor. However, some country-specific differences also arise. For instance, the incidence of wealth poverty in the United Kingdom is about twice that of Spain. Using counterfactual analysis we find that, although the different household demographics clearly contribute importantly to this result, there remains a significant part of the asset-poverty gap which is not explained by this relevant factor.

Item Type: Article
Official URL: http://www.springer.com/economics/growth/journal/1...
Additional Information: © 2010 Springer Science+Business Media, LLC.
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HQ The family. Marriage. Woman
Sets: Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 30 Mar 2011 13:26
URL: http://eprints.lse.ac.uk/33734/

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