Consumption patterns and economic status of older households in the United States

Lee, Seong Lim; Sohn, Sang-Hee; Rhee, Eun-Young; Zan, Hua

doi:10.21916/mlr.2014.32

Cited by 9 publications

(8 citation statements)

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“…Instead, the budget share for transportation was greater in the younger households, 15.3%, compared with only 9.5% in elderly-headed households in the POF 2008/09. According to Lee et al (2014), compared with younger adults, the elderly spend a higher share on housing, food and health care – the three most important items in their total consumption – and a smaller share on clothing and transportation…”

Section: Resultsmentioning

confidence: 99%

Consumption patterns and demand in households headed by the elderly: evidence from Brazil

Travassos

Coelho

Arends‐Kuenning

2021

IJSE

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PurposeThe main objective of this paper is to analyze patterns of consumption expenditure and the effects of income, prices and socioeconomic and demographic factors on demand among elderly- and young-adult-headed households in Brazil.Design/methodology/approachThe authors estimated a Quadratic Almost Ideal Demand System demand system using the main household consumption good groups – food, housing, clothing, transportation, health care and other expenses – with data from three Brazilian Household Budget surveys.FindingsThe study results showed that elderly- and young-adult-headed households have different consumption patterns. The consumption of food, transportation and health care was more price-sensitive for households headed by the elderly, while higher income increases health care expenses in elderly-headed households to a greater extent than it does in younger-headed households.Research limitations/implicationsThe limitations are due to the structure of the data used, such as the effects of seasonality and individualized demand analyses, and sample design in the estimates. However, due to the structure of the demand models, which when estimating by seemingly unrelated regressions do not allow to take into account the sample design.Practical implicationsAs a consequence of population aging, the Brazilian economy will experience changes in the composition of household consumption, mainly for food, housing, transportation and health-care-related products.Originality/valueThis paper fulfills the lack of studies that analyze the consumption patterns and how demand varies across different types of elderly-headed households in a developing country, such as Brazil.

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Section: Resultsmentioning

confidence: 99%

Consumption patterns and demand in households headed by the elderly: evidence from Brazil

Travassos

Coelho

Arends‐Kuenning

2021

IJSE

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“…Contrary to the life-cycle hypothesis, several studies have found that older Americans maintain their wealth by reducing consumption, and that this reduction is attributable to uncertainties regarding health, life expectancy, and ability to maintain household independence (Seonglim et al, 2014). At the same time, the research of French et al (2006) indicates, that difficulties in fulfilling basic needs will appear in the few years before death, as there is growth of out-of-pocket medical expenditures related to increased drug costs, doctor visits, and hospital and nursing home stays.…”

Section: Poverty and Silver Economymentioning

confidence: 81%

Silver Economy, Poverty and Social Exclusion in the European Union Countries

Maj-Waśniowska¹,

Wałęga²,

Wałęga³

2018

Proceedings of the 10th Economics &Amp; Finance Conference, Rome

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Ageing society and the development of silver economy run a greater risk of poverty and social exclusion. Rapid demographic changes are not only a major challenge of public spending, workforce and consumptions patterns but also a major opportunity for new jobs and growth. The aim of this article is to assess the level of advancement in the realization of the silver economy concept in European Union countries and its influence on poverty and social exclusion. The concept of silver economy in the European Union and challenges related to ageing in the area of public finance were discussed. The silver economy index was built using the old dependency ratio, active ageing index and age-related public spending. The conducted research shows that it is difficult to indicate a statistically significant relationship between the level of advancement of the silver economy concept and the level of people at risk of social exclusion rate. The study indicates that the silver economy ratio is the highest in Nordic countries and France, and in the countries of Central and Eastern Europe this concept is much less developed. At the same time, countries accepted to the European Union after 2004 are characterized with higher level of at-risk-of poverty and social exclusion rate, as well as relatively low age-related spendings and relatively high old dependency ratios.

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“…While for American retirees housing expenditures decrease in absolute terms, they remain unchanged in percentage terms. As opposed to the life cycle hypothesis, the decrease of income follows by the decrease in all major categories of goods and services expenditures [13]. According to the table 4 health care expenditure of Americans increase during aging.…”

Section: Structure Of Expendituresmentioning

confidence: 92%

Income and Consumption of Retirees: A Cross-Country Comparison

Ryzhkova

Chikov²,

Кашапова³

2016

Proceedings of the 2016 Conference on Information Technologies in Science, Management, Social Sphere and Medicine

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This paper reports results of comparison of retirees' assets, incomes, and consumption expenditures among three countries (the UK, US and Russia). The analysis was conducted on the basis of official statistic reports and on the data of special government and public organizations. Our findings are the following. The decrease of income while aging is the common feature for every country. Retirees in the UK and US own assets the revenue from which helps them to overcome the reduction in income. But for Russian pensioners it is hard to get by with only social payments. Their main strategies are to continue working or to cut some expenditure. But still they have savings. As a result special marketing policies which should be oriented on old people are suggested.

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Consumption patterns and economic status of older households in the United States

Cited by 9 publications

References 0 publications

Consumption patterns and demand in households headed by the elderly: evidence from Brazil

Consumption patterns and demand in households headed by the elderly: evidence from Brazil

Silver Economy, Poverty and Social Exclusion in the European Union Countries

Income and Consumption of Retirees: A Cross-Country Comparison

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