As extreme weather events intensify due to climate change, it becomes ever more critical to understand how vulnerable households are to these events and the mechanisms households can rely on to minimize losses effectively.

Considerations of risk and vulnerability are key to understanding the dynamics of poverty in rural Malawi. This study measures vulnerability to consumption shortfalls and analyzes its sources using a two-period panel of 2,789 households, drawn from the 2010 Third Integrated Household Survey and the 2013 Integrated Household Panel Survey.