Income volatility in New Zealand

Authors

  • Toby Moore

DOI:

https://doi.org/10.26686/pq.v13i4.4609

Keywords:

measuring income volatility, Fit for the Future: boosting resilience in the face of uncertainty, linked employer–employee data (LEED), income mobility, financial risk

Abstract

‘Economic risk is a lot like a hurricane. Hurricanes strike powerfully and suddenly. They rip apart what they touch; property, landscape and lives … And although they can be prepared for, they cannot be prevented.’ These sentiments, from Yale political scientist Jacob Hacker, explain why economic risk is a concern for households, and why the extent of that concern depends a great deal on how well households are protected against risk. The potential for individual bad luck to lead to hardship has meant that society has, in many instances, determined that individual risk should be borne collectively through systems of social welfare or social insurance (Hacker, 2008, p.5).

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Published

2017-11-01