We propose families of measures for vulnerability to both individual and aggregate poverty. We view vulnerability as the burden caused by the threat of poverty. Exposure to states of the world where hardship may strike causes distress ex-ante, even if ex-post the dice are benign and poverty...

Standard poverty analysis makes statements about deprivation after the veil of uncertainty has been lifted. Nonetheless, the term 'vulnerability' has been used as a tool to remark that uncertainty and risk do matter. In this paper, we define 'vulnerability to poverty' as the magnitude of the...

We explore how to measure poverty over time, by focusing on trajectories of poverty rather than poverty at a particular point in time. We consider welfare outcomes over a period in time, consisting of a number of spells. We offer a characterization of desirable properties for measuring poverty...

Standard poverty analysis makes statements about deprivation after the veil of uncertainty has been lifted. Nonetheless, the term `vulnerability` has been used as a tool to remark that uncertainty and risk do matter. In this paper, we define `vulnerability to poverty` as the magnitude of the...

We explore how to measure poverty over time, by focusing on trajectories of poverty rather than poverty at a particular point in time. We consider welfare outcomes over a period in time, consisting of a number of spells. We offer a characterization of desirable properties for measuring poverty...

Standard poverty analysis makes statements about deprivation after the veil of uncertainty has been lifted. This implies that there is no meaningful role for risk as part of an assessment of potentially low states of well-being. In this paper, we introduce a concept of vulnerability, as a threat...

We explore how to measure poverty over time, by focusing on trajectories of poverty rather than poverty at a particular point in time. We consider welfare outcomes over a period in time, consisting of a number of spells. We offer a characterization of desirable properties for measuring poverty...