Middle Class Without a Net: Savings, Financial Fragility, and Preferences Over Social Insurance

Research output: Contribution to journalJournal articleResearchpeer-review

Standard

Middle Class Without a Net : Savings, Financial Fragility, and Preferences Over Social Insurance. / Hariri, Jacob Gerner; Jensen, Amalie Sofie; Lassen, David Dreyer.

In: Comparative Political Studies, Vol. 53, No. 6, 01.05.2020, p. 892-922.

Research output: Contribution to journalJournal articleResearchpeer-review

Harvard

Hariri, JG, Jensen, AS & Lassen, DD 2020, 'Middle Class Without a Net: Savings, Financial Fragility, and Preferences Over Social Insurance', Comparative Political Studies, vol. 53, no. 6, pp. 892-922. https://doi.org/10.1177/0010414019879718

APA

Hariri, J. G., Jensen, A. S., & Lassen, D. D. (2020). Middle Class Without a Net: Savings, Financial Fragility, and Preferences Over Social Insurance. Comparative Political Studies, 53(6), 892-922. https://doi.org/10.1177/0010414019879718

Vancouver

Hariri JG, Jensen AS, Lassen DD. Middle Class Without a Net: Savings, Financial Fragility, and Preferences Over Social Insurance. Comparative Political Studies. 2020 May 1;53(6):892-922. https://doi.org/10.1177/0010414019879718

Author

Hariri, Jacob Gerner ; Jensen, Amalie Sofie ; Lassen, David Dreyer. / Middle Class Without a Net : Savings, Financial Fragility, and Preferences Over Social Insurance. In: Comparative Political Studies. 2020 ; Vol. 53, No. 6. pp. 892-922.

Bibtex

@article{f93e11a730a140348ea0daf1b14a8c3e,
title = "Middle Class Without a Net: Savings, Financial Fragility, and Preferences Over Social Insurance",
abstract = "In this article, we show that it is crucial to distinguish between liquid and illiquid wealth to understand how voters form preferences toward social insurance. Many households are financially fragile despite having high incomes and wealth, because they hold little liquid savings. We hypothesize, and show empirically, that this implies that a substantial group of voters show strong support for social insurance policies despite being wealthy and having high incomes, because of their limited ability to self-insure through own savings in case of an income shock. Our empirical analysis is based on a novel dataset from Denmark, which combines administrative data with high-quality measures of individual financial assets and survey measures of political preferences. Using data for other countries from the European Social Survey, we find evidence that our results hold more generally and are not specific to the Danish context.",
keywords = "political economy, public opinion, social welfare programs",
author = "Hariri, {Jacob Gerner} and Jensen, {Amalie Sofie} and Lassen, {David Dreyer}",
year = "2020",
month = "5",
day = "1",
doi = "10.1177/0010414019879718",
language = "English",
volume = "53",
pages = "892--922",
journal = "Comparative Political Studies",
issn = "0010-4140",
publisher = "SAGE Publications",
number = "6",

}

RIS

TY - JOUR

T1 - Middle Class Without a Net

T2 - Savings, Financial Fragility, and Preferences Over Social Insurance

AU - Hariri, Jacob Gerner

AU - Jensen, Amalie Sofie

AU - Lassen, David Dreyer

PY - 2020/5/1

Y1 - 2020/5/1

N2 - In this article, we show that it is crucial to distinguish between liquid and illiquid wealth to understand how voters form preferences toward social insurance. Many households are financially fragile despite having high incomes and wealth, because they hold little liquid savings. We hypothesize, and show empirically, that this implies that a substantial group of voters show strong support for social insurance policies despite being wealthy and having high incomes, because of their limited ability to self-insure through own savings in case of an income shock. Our empirical analysis is based on a novel dataset from Denmark, which combines administrative data with high-quality measures of individual financial assets and survey measures of political preferences. Using data for other countries from the European Social Survey, we find evidence that our results hold more generally and are not specific to the Danish context.

AB - In this article, we show that it is crucial to distinguish between liquid and illiquid wealth to understand how voters form preferences toward social insurance. Many households are financially fragile despite having high incomes and wealth, because they hold little liquid savings. We hypothesize, and show empirically, that this implies that a substantial group of voters show strong support for social insurance policies despite being wealthy and having high incomes, because of their limited ability to self-insure through own savings in case of an income shock. Our empirical analysis is based on a novel dataset from Denmark, which combines administrative data with high-quality measures of individual financial assets and survey measures of political preferences. Using data for other countries from the European Social Survey, we find evidence that our results hold more generally and are not specific to the Danish context.

KW - political economy

KW - public opinion

KW - social welfare programs

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U2 - 10.1177/0010414019879718

DO - 10.1177/0010414019879718

M3 - Journal article

AN - SCOPUS:85074337612

VL - 53

SP - 892

EP - 922

JO - Comparative Political Studies

JF - Comparative Political Studies

SN - 0010-4140

IS - 6

ER -

ID: 229996677