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Elderly Poverty in the United States in the 21st Century: Exploring the Role of Assets in the Supplemental Poverty Measure

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  • Christopher Wimer
  • Lucas Manfield

Abstract

Official estimates of elderly poverty do not take into account either the medical needs of the elderly, which can be quite extensive, or the assets at their disposal, which may also be extensive. The new Supplemental Poverty Measure (SPM) explicitly takes into account medical needs but has been criticized for not concomitantly taking into account asset portfolios. In this paper we consider both jointly, using an approach adapted from a recent National Academy of Sciences report recommending methods for measuring poverty and medical risk while taking account of assets. We use longitudinal data from the Health and Retirement Study (HRS).

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  • Christopher Wimer & Lucas Manfield, 2015. "Elderly Poverty in the United States in the 21st Century: Exploring the Role of Assets in the Supplemental Poverty Measure," Working Papers, Center for Retirement Research at Boston College wp2015-29, Center for Retirement Research.
    • Handle: RePEc:crr:crrwps:wp2015-29
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    File URL: http://crr.bc.edu/working-papers/elderly-poverty-in-the-united-states-in-the-21st-century-exploring-the-role-of-assets-in-the-supplemental-poverty-measure/
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    Cited by:

    1. Jun-Hong Chen & Chieh-Hsun Huang & Chi-Fang Wu & Melissa Jonson-Reid & Brett Drake, 2024. "The Application of Family Stress Model to Investigating Adolescent Problematic Behaviors: The Moderating Role of Assets," Journal of Family and Economic Issues, Springer, vol. 45(1), pages 174-183, March.
    2. Stipica Mudrazija & Barbara A. Butrica, 2023. "The dynamic nature of poverty and food insecurity among older adults: Evidence from the Health and Retirement Study," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 45(1), pages 262-279, March.
    3. Jun-Hong Chen & Chi-Fang Wu & Minchao Jin, 2023. "How are Income and Assets Associated with Food Insecurity? An Application of the Growth Mixture Modeling," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 165(3), pages 959-973, February.
    4. Alan Gustman & Thomas Steinmeier & Nahid Tabatabai, 2016. "Distributional Effects of Means Testing Social Security: Income Versus Wealth," NBER Working Papers 22424, National Bureau of Economic Research, Inc.

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