Comparing Economic Well-Being among Elderly Americans
Income-only and income-net worth measures of elderly economic well-being are derived from a single public-welfare-function-optimizing model of household production and intertemporal resource allocation. These measures are estimated with data on U.S. elderly in 1984 from the Survey of Income and Program Participation. The income-net worth measure also incorporates independently estimated work-life expectancies and earnings replacement rates. Under both measures, minority, moderately disabled, and unmarried female elderly are the poorest subpopulations. Increasing poverty with age is found under the income-only measure but not the income-net worth measure. Copyright 1993 by The International Association for Research in Income and Wealth.
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Volume (Year): 39 (1993)
Issue (Month): 1 (March)
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