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The estimation of pensioner equivalence scales using subjective data

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  • Stewart, Mark B.

    (Economics Department, University of Warwick)

Abstract

This paper uses panel data on pensioners’ subjective evaluations of their financial positions to construct equivalence scales for pensioners. A pensioner couple is estimated to require an income 44% higher than a comparable single pensioner to reach the same standard of living. This is significantly less than the equivalence scale value implied by the ratio of state pension rates, the McClements equivalence scale value and the scale value derived from Engel curve estimation for food expenditure using the same data source. The estimated equivalence scale value is robust to variations in the definition of the pensioner sample, the measurement of income and the econometric model used.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2009/twerp_893.pdf
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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 893.

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Length: 40 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:wrk:warwec:893

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Related research

Keywords: equivalence scales ; pensioner incomes ; pensions ; subjective data ; ordered response models ; Engel curves.;

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Cited by:
  1. Aline Bütikofer & Michael Gerfin, 2009. "The economies of scale of living together and how they are shared - Estimates based on a collective household model," Diskussionsschriften dp0903, Universitaet Bern, Departement Volkswirtschaft.
  2. repec:ese:iserwp:2012-09 is not listed on IDEAS

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