Jonathan Morduch is a professor of Public Policy and Economics at the NYU Wagner Graduate School of Public Service, and executive director of the Financial Access Initiative. He is a co-author of Portfolios of the Poor and The Economics of Microfinance, and a principal investigator of the U.S. Financial Diaries project.
A yearlong analysis of 200-plus households suggests that we should add a third leg to the financial security stool along with income and assets: cash flow.