Health and Retirement Effects in a Collective Consumption Model of Older Households
AbstractUsing data on elderly individuals and couples, we estimate a collective model of household consumption of a variety of goods, showing how resources are shared between husband and wife, and how this allocation is affected by retirement and health status. We identify the extent to which shared consumption of some goods by elderly married couples reduces their costs of living relative to living alone. We also identify the fraction of household resources consumed by wives versus husbands, taking this jointness of some consumption into account. The results are relevant for household bargaining models and for a variety of welfare calculations.
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Bibliographic InfoPaper provided by Boston College Department of Economics in its series Boston College Working Papers in Economics with number 767.
Date of creation: 15 Dec 2010
Date of revision: 15 Jan 2011
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Collective household models; Bargaining models; Retirement; Aging; Health; Equivalence scales; Indifference scales; Cost of Living; Consumption; Welfare;
Find related papers by JEL classification:
- D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- I1 - Health, Education, and Welfare - - Health
- D6 - Microeconomics - - Welfare Economics
- C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
This paper has been announced in the following NEP Reports:
- NEP-AGE-2011-01-03 (Economics of Ageing)
- NEP-ALL-2011-01-03 (All new papers)
- NEP-HEA-2011-01-03 (Health Economics)
- NEP-LTV-2011-01-03 (Unemployment, Inequality & Poverty)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mariacristina De Nardi & Eric French & John Bailey Jones, 2005.
"Differential mortality, uncertain medical expenses, and the saving of elderly singles,"
Working Paper Series
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- Mariacristina De Nardi & Eric French & John Bailey Jones, 2006. "Differential Mortality, Uncertain Medical Expenses, and the Saving of Elderly Singles," 2006 Meeting Papers 46, Society for Economic Dynamics.
- Mariacristina De Nardi & Eric French & John Bailey Jones, 2006. "Differential Mortality, Uncertain Medical Expenses, and the Saving of Elderly Singles," NBER Working Papers 12554, National Bureau of Economic Research, Inc.
- Cherchye, L.J.H. & Rock, B. de & Vermeulen, F.M.P., 2008.
"Economic Well-Being and Poverty Among the Elderly: An Analysis Based on a Collective Consumption Model,"
2008-15, Tilburg University, Center for Economic Research.
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- Laurens Cherchye & Bram De Rock & Frederik Vermeulen, 2008. "Economic well-being and poverty among the elderly: an analysis based on a collective consumption model," Center for Economic Studies - Discussion papers ces0807, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
- Cherchye, Laurens & De Rock, Bram & Vermeulen, Frederic, 2008. "Economic Well-Being and Poverty among the Elderly: An Analysis Based on a Collective Consumption Model," IZA Discussion Papers 3349, Institute for the Study of Labor (IZA).
- Fabrizio Balli, 2012. "Are Traditional Equivalence Scales Still Useful? A Review and A Possible Answer," Department of Economics University of Siena 656, Department of Economics, University of Siena.
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