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Are Inflation Rates Different for the Elderly?

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  • Michael J. Boskin
  • Michael D. Hurd

Abstract

This paper presents new evidence on cost-of-living indices and annual inflation rates for the elderly population as well as the general population. It employs a now fairly widely accepted adjustment for the inappropriate treatment of housing in the Consumer Price Index. We disaggregate by five-year age cohorts for the elderly, and analyze various features of the differences in the inflation faced by the elderly and the general population, as well as within the elderly group itself. We conclude that, conditional on a housing adjustment, the inflation experience of the elderly from 1961-1981 was quite similar to the general population, both cumulatively and year-by-year.

Suggested Citation

  • Michael J. Boskin & Michael D. Hurd, 1982. "Are Inflation Rates Different for the Elderly?," NBER Working Papers 0943, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:0943
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    File URL: http://www.nber.org/papers/w0943.pdf
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    References listed on IDEAS

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    1. Dougherty, Ann & Van Order, Robert, 1982. "Inflation, Housing Costs, and the Consumer Price Index," American Economic Review, American Economic Association, vol. 72(1), pages 154-164, March.
    2. Michael, Robert T, 1979. "Variation across Households in the Rate of Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(1), pages 32-46, February.
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    Cited by:

    1. Gopi Shah Goda & John B. Shoven & Sita Nataraj Slavov, 2011. "How Well Are Social Security Recipients Protected from Inflation?," NBER Chapters,in: Investigations in the Economics of Aging, pages 119-139 National Bureau of Economic Research, Inc.
    2. Michael J. Boskin & John B. Shoven, 1984. "Concepts and Measures of Earnings Replacement During Retirement," NBER Working Papers 1360, National Bureau of Economic Research, Inc.
    3. Michael D. Hurd & John B. Shoven, 1985. "Inflation Vulnerability, Income, and Wealth of the Elderly, 1969- 1979," NBER Chapters,in: Horizontal Equity, Uncertainty, and Economic Well-Being, pages 125-178 National Bureau of Economic Research, Inc.
    4. Michael D. Hurd & John B. Shoven, 1983. "The Economic Status of the Elderly," NBER Chapters,in: Financial Aspects of the United States Pension System, pages 359-398 National Bureau of Economic Research, Inc.
    5. Michael J. Boskin & John B. Shoven, 1986. "Poverty Among the Elderly: Where are the Holes in the Safety Net?," NBER Working Papers 1923, National Bureau of Economic Research, Inc.

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