The Role of Financial Fragility and Financial Control for Well-Being

Social Indicators Research - Financial fragility is recognized as a substantial issue for individual well-being. Various estimates show that between 46 and 59% of American adults are financially...     

The Index of Household Financial Condition,Combining Subjective and Objective Indicators: An Appraisal of Italian Households

With data from the Italian Survey of Household Income and Wealth, we present an Index of Household Financial Condition and quantify with it the position of households between 2004 and 2010. The Index of Household Financial Condition is composed of subjective and objective indicators, which enable to capture differently the existing uncertainty concerning the future development of a household’s financial situation. We show with a measurement model based on multi-group confirmatory factor analysis (MGCFA) that the proposed Index is two-dimensional and comprises financial position and financial prudence. Through application of the MGCFA, we show that the interrelations between the indicators had not changed at four measurement occasions (2004–2010), and thus the proposed set comprises a coherent and time-invariant framework for measuring two dimensions of the latent concept: financial condition. Established measurement invariance in the MGCFA framework allows an assessment of trend in financial position and financial prudence of Italian households. We show that the financial position of Italian households improved in the period 2004–2006 and later declined. Improvement of the financial prudence was observed, however, till 2008. Finally, we incorporate a set of socioeconomic features of Italian households into a structural equation model. With the provided set of indicators, we find positive relation between age and both financial position and prudence, but also we show the positive impact of white-collar jobs on scores in each of the dimensions of the financial condition.     

Differences in Gender Norms Between Countries: Are They Valid? The Issue of Measurement Invariance

The values and attitudes towards gender roles are often investigated and compared from a cross-country perspective without the proper statistical treatment of the measurement invariance (MI) assessment. This implies that the conclusions based on composite scales of gender norms, gender role attitudes or gender egalitarianism, to name only a few, may be questionable. In this study, we address this lack by investigating the cross-country MI properties of the Gender Equality Scale (GES) based on World Value Survey data. We use multi-group confirmatory factor analysis with and without alignment to determine the configural, weak, strong and strict MI. The results show that the concept of gender equality is not comparable across all countries involved in the survey. In particular, it seems to differ between Western Europe and Central and Eastern Europe. We claim that only selected Central and Eastern European countries exhibit a configural MI but fail to show full weak MI and definitely fail to show full strong and full strict MI. However, under the aligned measurement framework, we succeeded in showing that for these countries, comparisons of the country rankings with respect to the GES are valid provided that a correction for non-invariance of certain factor loadings and/or intercepts is applied. Our study shows that the most egalitarian gender role attitudes measured by the GES are observed in the Czech Republic, Hungary, Lithuania and Croatia. They are significantly higher than the gender equality attitudes recorded in the lowest scoring countries Poland, Slovakia, Albania and Romania.     

Measuring the impact of the Web: Rasch modelling for survey evaluation

In 2012, the World Wide Web Foundation launched for the first time the Web Index (WI), which combines the existing secondary data with new primary data to rank countries according to their progress and use of the Web. Primary data are gathered via a multi-country specifically designed questionnaire. The aim of our analysis is (1) to evaluate the measurement properties of the expert assessment survey and to provide survey designers with some insights into possible problematic questions and/or unexpectedly behaving countries and (2) to assess the experts’ perception of the state and the value of the Web. To do so the Rating Scale Rasch model is employed. Results show that about 10% of survey questions are detected as misfitting and need to be reworded. Possible reasons are: counter-orientation with respect to the WI polarity, difficulty in understanding the question's words or binary instead of the multiple response scale. Country analysis shows that no country can be considered as an outlier due to notable unexpected pattern of answers. Since the survey is to be expanded in future editions of the WI, the results of our analysis are very important in pin-pointing the questions most in need of refinement for the next edition of the Index.