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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References listed on IDEAS
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- 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.
- Frank T. Denton & Byron G. Spencer, 1997. "How Well Does the CPI Serve as an Index of Inflation for Older Age Groups?," Independence and Economic Security of the Older Population Research Papers 16, McMaster University.
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- 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.
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- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June. Full references (including those not matched with items on IDEAS)