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Consumption Patterns Among Aging Canadians: A Synthetic Cohort Approach

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  • Lafrance, Amélie Larochelle-Côté, Sébastien

Abstract

Studies of pre- and post-retirement annual income have focused on the extent to which income falls at this crucial stage in life. Although these studies vary in scope and intent, the overall consensus is that the Canadian retirement income system provides income replacement rates that are in the excess of 60% to 70% for a plurality of Canadians, especially for those who had low incomes during their prime working years. However, little has been published on the extent to which retirees maintain their same levels of consumption. Using data from the Survey of Family Expenditures (FAMEX) and from the Survey of Household Spending (SHS), this study develops a synthetic cohort approach to determine how the consumption patterns of households headed by individuals in their late 40s (in the early 1980s) differ from those of a group of households headed by individuals in their early 70s (in the late 2000s). It finds that, even though the nature of consumption changes over time, the overall levels of consumption "per adult" do not decline by substantial amounts among Canadians as they age.

Suggested Citation

  • Lafrance, Amélie Larochelle-Côté, Sébastien, 2011. "Consumption Patterns Among Aging Canadians: A Synthetic Cohort Approach," Economic Analysis (EA) Research Paper Series 2011067e, Statistics Canada, Analytical Studies Branch.
    • Handle: RePEc:stc:stcp5e:2011067e
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    Cited by:

    1. Schmult, Brian, 2012. "Improving Understanding of the Social Security OASDI Trust Fund," MPRA Paper 44227, University Library of Munich, Germany, revised 05 Feb 2013.
    2. Bokana K.G & Kabongo W.N.S, 2018. "Modelling Real Private Consumption Expenditure in South Africa to Test the Absolute Income Hypothesis," Journal of Economics and Behavioral Studies, AMH International, vol. 10(5), pages 138-155.

    More about this item

    Keywords

    Income; pensions; spending and wealth; Seniors; Household assets; debts and wealth; Work and retirement;
    All these keywords.

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