David Loschiavo, Federico Tullio, Antonietta di Salvatore
{"title":"Measuring Households' Financial Fragilities: An analysis at the intersection of income, financial wealth, and debt†","authors":"David Loschiavo, Federico Tullio, Antonietta di Salvatore","doi":"10.1111/roiw.12691","DOIUrl":null,"url":null,"abstract":"We provide an analysis of the financial fragilities of Italian households in the 2000–2020 period, using data from the Survey on Household Income and Wealth. We comment on the recent trends of financial ill‐being, using different poverty measures, and we provide a descriptive analysis of the fragile households' characteristics. Then, we model persistence in the dynamics of the poverty statuses using different specifications of the dynamic random‐effects probit model to account for observed and latent individual heterogeneity and endogeneity of the initial conditions. A strong state dependence is found in all the considered poverty statuses, with financial and liquidity poverty being the most persistent.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"56 1","pages":""},"PeriodicalIF":1.9000,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Review of Income and Wealth","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/roiw.12691","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
We provide an analysis of the financial fragilities of Italian households in the 2000–2020 period, using data from the Survey on Household Income and Wealth. We comment on the recent trends of financial ill‐being, using different poverty measures, and we provide a descriptive analysis of the fragile households' characteristics. Then, we model persistence in the dynamics of the poverty statuses using different specifications of the dynamic random‐effects probit model to account for observed and latent individual heterogeneity and endogeneity of the initial conditions. A strong state dependence is found in all the considered poverty statuses, with financial and liquidity poverty being the most persistent.
期刊介绍：
The major objective of the Review of Income and Wealth is to advance knowledge on the definition, measurement and interpretation of national income, wealth and distribution. Among the issues covered are: - national and social accounting - microdata analyses of issues related to income and wealth and its distribution - the integration of micro and macro systems of economic, financial, and social statistics - international and intertemporal comparisons of income, wealth, inequality, poverty, well-being, and productivity - related problems of measurement and methodology
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