Identifying the poor: a comparison of income and expenditure indicators using the 1985 family expenditure survey

Article Abstract:

Policies to alleviate poverty require its accurate measurement. Traditional methods compare individuals' income levels with standard minimum level often referred to as the poverty line. However, expenditures are another indicator of standard of living. The relative performances of income and expenditure as indicators of poverty are compared using data from the 1985 Family Expenditure Survey. Based on a comparison of alternative rankings, the results indicate that expenditure may outperform income as a poverty measure.

Usage, Measurement, Poverty, Poor, Economic indicators, Identification and classification

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Optimal consumption and equilibrium prices with portfolio constraints and stochastic income

Article Abstract:

The intertemporal optimal consumption and investment problem with the existence of a stochastic endowment and constraints on the portfolio choices is examined. Martingale techniques are applied to come up with the results on the characterization and existence of optimal consumption and investment policies with a finite horizon and with security prices following general Ito processes.

Business, Analysis, Economic aspects, Stochastic processes, Martingales (Mathematics)

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On Income Fluctuations and Capital Gains

Article Abstract:

An optimal consumption policy is formulated for an infinite time horizon. Optimization of accumulated and discounted utility is achieved. The optimal capital sequence goes to infinity.

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