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Comparing Economic Well‐Being Among Elderly Americans

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  • Michael S. Rendall
  • Alden Speare

Abstract

Income‐only and income‐net worth measures of elderly economic well‐being are derived from a single public welfare function‐optimizing model of household production and intertemporal resource allocation. These measures are estimated with data on United States elderly in 1984 from the Survey of Income and Program Participation. The income‐net worth measure also incorporates independently estimated work‐life expectancies and earnings replacement rates. Under both measures, minority, moderately disabled, and unmarried female elderly are the poorest sub‐populations. Increasing poverty with age is found under the income‐only measure, but not the income‐net worth measure.

Suggested Citation

  • 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.
    • Handle: RePEc:bla:revinw:v:39:y:1993:i:1:p:1-21
    DOI: 10.1111/j.1475-4991.1993.tb00434.x
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    Cited by:

    1. Nandinee K. Kutty, 1998. "The Scope for Poverty Alleviation among Elderly Home-owners in the United States through Reverse Mortgages," Urban Studies, Urban Studies Journal Limited, vol. 35(1), pages 113-129, January.
    2. David Gallusser & Matthias Krapf, 2022. "Joint Income-Wealth Inequality: Evidence from Lucerne Tax Data," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 163(1), pages 251-295, August.
    3. 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.
    4. Andrea Brandolini & Silvia Magri & Timothy M. Smeeding, 2010. "Asset-based measurement of poverty," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 29(2), pages 267-284.
    5. Müller, Philip & Schmidt, Tobias, 2015. "Identifying income and wealth-poor households in the euro area," Discussion Papers 35/2015, Deutsche Bundesbank.
    6. Gerlinde Verbist & Ron Diris & Frank Vandenbroucke, 2018. "Solidarity between generations in extended families. Direction, size and intensity," Working Papers 1816, Herman Deleeck Centre for Social Policy, University of Antwerp.
    7. Whitehouse, Edward, 2000. "How poor are the old? a survey of evidence from 44 countries," Social Protection Discussion Papers and Notes 23141, The World Bank.
    8. Marchand, J. & Smeeding, T., 2016. "Poverty and Aging," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 905-950, Elsevier.
      • Marchand, Joseph & Smeeding, Timothy, 2016. "Poverty and Aging," Working Papers 2016-11, University of Alberta, Department of Economics, revised 20 Nov 2016.
    9. Sarah Kuypers & Ive Marx, 2018. "Estimation of Joint Income-Wealth Poverty: A Sensitivity Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 136(1), pages 117-137, February.

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