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Well‐Being, Deprivation, and the Great Recession in the U.S.: A Study in A Multidimensional Framework
Author(s) -
Dhongde Shatakshee,
Pattanaik Prasanta K.,
Xu Yongsheng
Publication year - 2019
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/roiw.12411
Subject(s) - recession , social deprivation , great recession , population , dimension (graph theory) , demographic economics , economics , demography , keynesian economics , economic growth , sociology , mathematics , pure mathematics
We study changes in social well‐being and deprivation in the U.S. during the Great Recession and the subsequent recovery. We outline an analytical framework for measuring well‐being and deprivation in a multidimensional fashion when data on achievement in each dimension is assumed to be ordinal and binary in nature. We use data from the American Community Survey between 2008 and 2015 and find that there was a decline in social well‐being and a rise in social deprivation in the U.S. during the recession followed by a reversal of trends during the recovery. Despite low deprivation levels among the White population, this population experienced the largest increase in deprivation during the recession and the least decline in deprivation in the recovery period. These results underscore the fact that the impact of recession and the subsequent recovery varied significantly across population groups.