ECONOMIC WELL-BEING AT OLDER AGES: INCOME- AND CONSUMPTION-BASED POVERTY MEASURES IN THE HRS

摘要: According to economic theory, well-being or utility depends on consumption. However, at the household level, total consumption is rarely measured because its collection requires a great deal of survey time. As result income has been widely used assess and poverty rates. Yet, households can use wealth consume more than income, an income-based measure could yield misleading results for many households, especially older ages. The authors data from Health Retirement Study find rates which they compare with as in Current Population Survey. They HRS calculate consumption-based rate study relationship between measures. that based lower rate. Particularly noteworthy much among oldest single persons such widows. explanation difference ability out wealth.