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Age, Retirement and Expenditure Patterns: An Econometric Study of Older Canadian Households

  • Frank T. Denton
  • Dean C. Mountain
  • Byron G. Spencer

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 Almost Ideal Demand System is estimated with data from six Family Expenditure Surveys and used to investigate that question. The findings suggest that observed changes in budget allocations are most closely related to reductions in income.

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File URL: http://socserv.mcmaster.ca/qsep/p/qsep375.pdf
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Paper provided by McMaster University in its series Quantitative Studies in Economics and Population Research Reports with number 375.

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Length: 28 pages
Date of creation: Oct 2002
Date of revision:
Handle: RePEc:mcm:qseprr:375
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  1. 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.
  2. Denton, Frank T & Mountain, Dean C & Spencer, Byron G, 1999. "Age, Trend, and Cohort Effects in a Macro Model of Canadian Expenditure Patterns," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(4), pages 430-43, October.
  3. 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.
  4. 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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