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Net Government Expenditures and the Economic Well-being of the Elderly in the United States, 1989–2001

In: Government Spending on the Elderly

Author

Listed:
  • Edward N. Wolff
  • Ajit Zacharias
  • Hyunsub Kum
  • Robert Haveman

Abstract

The sustainability of, and trade-offs involved in, government expenditures for the elderly has become increasingly topical in recent years. An adequate examination of policy options has to be based on a sound assessment of the economic well-being of the elderly. The most widely used measure of economic well-being in considering the gaps between elderly and nonelderly households is money income. However, as several studies have pointed out, money income does not reflect elements that are crucial for the economic well-being of the elderly such as noncash transfers (which are completely excluded from money income) and wealth (for example, Radner, 1996; Rendall and Speare, 1993).

Suggested Citation

  • Edward N. Wolff & Ajit Zacharias & Hyunsub Kum & Robert Haveman, 2007. "Net Government Expenditures and the Economic Well-being of the Elderly in the United States, 1989–2001," Palgrave Macmillan Books, in: Dimitri B. Papadimitriou (ed.), Government Spending on the Elderly, chapter 4, pages 81-122, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59144-8_4
    DOI: 10.1057/9780230591448_4
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    References listed on IDEAS

    as
    1. Michael S. Rendall & Alden Speare, 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.
    2. Patricia Ruggles & Michael O'Higgins, 1981. "The Distribution Of Public Expenditure Among Households In The United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(2), pages 137-164, June.
    3. J. Steven Landefeld & Stephanie H. McCulla, 2000. "Accounting For Nonmarket Household Production Within A National Accounts Framework," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 46(3), pages 289-307, September.
    4. Ruggles, Patricia & O'Higgins, Michael, 1981. "The Distribution of Public Expenditure among Households in the United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(2), pages 137-164, June.
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