Age, Retirement, and Expenditure Patterns: An Econometric Study of Older Households
The paper explores the allocation of consumption expenditure by the older population among different categories of goods and services, and how expenditure patterns change with age within that population. Of particular interest is whether observed differences between pre-retirement and post-retirement patterns are a consequence of changes in tastes or reductions in income. An adapted form of the Deaton and Muellbauer [Am. Econ. Rev., 70:312–326, 1980 ] Almost Ideal Demand System (AIDS) is estimated with data from six surveys of family expenditure and used to investigate that question. The findings suggest that observed changes in budget allocations are most closely related to reductions in income. Copyright International Atlantic Economic Society 2006
Volume (Year): 34 (2006)
Issue (Month): 4 (December)
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- Frank Denton & Dean Mountain, 2004.
"Aggregation effects on price and expenditure elasticities in a quadratic almost ideal demand system,"
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- Frank T. Denton & Byron G. Spencer, 1997.
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Independence and Economic Security of the Older Population Research Papers
16, McMaster University.
- Frank T. Denton & Byron G. Spencer, 1997. "How Well Does the CPI Serve as an Index of Inflation for Older Age Groups?," Quantitative Studies in Economics and Population Research Reports 329, McMaster University.
- Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November.
- Denton, Frank T. & Mountain, Dean C., 2001. "Income distribution and aggregation/disaggregation biases in the measurement of consumer demand elasticities," Economics Letters, Elsevier, vol. 73(1), pages 21-28, October.
- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
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