Household structure and consumption insurance of the elderly

Ulker, Aydogan 2008, Household structure and consumption insurance of the elderly, Journal of polulation economics, vol. 21, no. 2, pp. 373-394, doi: 10.1007/s00148-007-0150-y.

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Title Household structure and consumption insurance of the elderly
Author(s) Ulker, AydoganORCID iD for Ulker, Aydogan
Journal name Journal of polulation economics
Volume number 21
Issue number 2
Start page 373
End page 394
Total pages 22 p.
Publisher Springer
Place of publication Heidelberg, Germany
Publication date 2008-04
ISSN 0933-1433
Summary This paper examines the role of household formation in providing consumption insurance to the elderly. Using data from the Consumer Expenditure Surveys, raw tabulations of per adult equivalent consumption indicate that the elderly who live alone have higher levels of well-being relative to those who live with others. This is misleading, however, because the decision to live alone is clearly endogenous. The empirical estimation accounts for this endogeneity using data from the Panel Study of Income Dynamics. The results provide evidence that household formation plays a significant role in maintaining consumption levels. Without the opportunity to live with others, the welfare gap measured by the difference between per adult equivalent consumption levels of dependent and independent livers would be even larger. These findings suggest that co-residing with others effectively supplements social security, pensions, and private savings and helps the elderly to smooth consumption in old age.
Language eng
DOI 10.1007/s00148-007-0150-y
Field of Research 140219 Welfare Economics
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2007, Springer-Verlag
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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