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Comparing Economic Well-Being among Elderly Americans

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  • Rendall, Michael S
  • Speare, Alden, Jr

Abstract

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.

Suggested Citation

  • Rendall, Michael S & Speare, Alden, Jr, 1993. "Comparing Economic Well-Being among Elderly Americans," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 39(1), pages 1-21, March.
  • Handle: RePEc:bla:revinw:v:39:y:1993:i:1:p:1-21
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    Cited by:

    1. Edward N. Wolff & Ajit Zacharias & Hyunsub Kum, 2006. "Net Government Expenditures and the Economic Well-Being of the Elderly in the United States, 1989-2001," Economics Working Paper Archive wp_466, Levy Economics Institute.
    2. Piero Cipollone & Pasqualino Montanaro & Paolo Sestito, 2010. "Value-Added Measures in Italian High Schools: Problems and Findings," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 69(2), pages 81-114, July.
    3. Andrea Brandolini & Silvia Magri & Timothy M. Smeeding, 2010. "Asset-based measurement of poverty," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 29(2), pages 267-284.
    4. Müller, Philip & Schmidt, Tobias, 2015. "Identifying income and wealth-poor households in the euro area," Discussion Papers 35/2015, Deutsche Bundesbank.
    5. Andrea Brandolini & Silvia Magri & Timothy M. Smeeding, 2010. "Asset-based measurement of poverty," Temi di discussione (Economic working papers) 755, Bank of Italy, Economic Research and International Relations Area.
    6. Whitehouse, Edward, 2000. "How poor are the old? a survey of evidence from 44 countries," Social Protection and Labor Policy and Technical Notes 23141, The World Bank.
    7. Marchand, J. & Smeeding, T., 2016. "Poverty and Aging," Handbook of the Economics of Population Aging, Elsevier.
      • Marchand, Joseph & Smeeding, Timothy, 2016. "Poverty and Aging," Working Papers 2016-11, University of Alberta, Department of Economics, revised 20 Nov 2016.

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