Abstract
The sustainability of, and trade-offs involved in, government expenditures for the elderly has become increasingly topical in recent years. An adequate examination of policy options has to be based on a sound assessment of the economic well-being of the elderly. The most widely used measure of economic well-being in considering the gaps between elderly and nonelderly households is money income. However, as several studies have pointed out, money income does not reflect elements that are crucial for the economic well-being of the elderly such as noncash transfers (which are completely excluded from money income) and wealth (for example, Radner, 1996; Rendall and Speare, 1993).
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
DeNavas-Walt, C., R. Cleveland and B. H. Webster, Jr. (2003) US Census Bureau, Current Population Reports, P60–221, Income in the United States (Washington, DC: US Government Printing Office).
Hicks, U. K. (1946) “The Terminology of Tax Analysis.” The Economic Journal 56 (221): 38–50.
Kuznets, S. S., L. Epstein and E. Jenks (1941) National Income and Its Composition, 1919–1938 (New York: National Bureau of Economic Research).
Lakin, C. (2002) “The Effects of Taxes and Benefits on Household Income, 2000–01,” Social Analysis and Reporting Division (United Kingdom: Office for National Statistics) http://www.statistics.gov.uk/
Landefeld, J. S. and S. H. McCulla (2000) “Accounting for Nonmarket Household Production within a National Accounts Framework,” Review of Income and Wealth 46 (3): 289–307.
OECD (1995) Household Production in OECD Countries: Data Sources and Measurement Methods (Paris: OECD).
Radner, D. B. (1996) “Family Unit Incomes of the Elderly and Children, 1994,” Social Security Bulletin 59 (4): 12–28.
Rendall, M. S. and A. Speare, Jr. (1993) “Comparing Economic Well-Being among Elderly Americans,” Review of Income and Wealth 39(1): 1– 21.
Ruggles, P. and M. O’Higgins (1981) “The Distribution of Public Expenditure among Households in the United States,” Review of Income and Wealth 27(2): 137– 64.
Ryscavage, P. (1995) “A Surge in Growing Income Inequality?” Monthly Labor Review 118 (8): 51–61.
Short, K. (2001) US Census Bureau, Current Population Reports P60–216: Experimental Poverty Measures: 1999 (Washington, DC: US Government Printing Office).
US Bureau of the Census (1993) Measuring the Effect of Benefits and Taxes on Income and Poverty: 1992 (Washington, DC: US Government Printing Office).
Weisbrod, B. A. and W. L. Hansen (1968) “An Income-Net Worth Approach to Measuring Economic Welfare,” The American Economic Review 58 (5): 1315–29.
Wolff, E. N., A. Zacharias and A. Caner (2004) Levy Institute Measure of Economic Well-Being, Concept, Measurement and Findings: United States, 1989 and 2000 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College) (February).
Editor information
Editors and Affiliations
Copyright information
© 2007 Palgrave Macmillan, a division of Macmillan Publishers Limited
About this chapter
Cite this chapter
Wolff, E.N., Zacharias, A., Kum, H., Haveman, R. (2007). Net Government Expenditures and the Economic Well-being of the Elderly in the United States, 1989–2001. In: Papadimitriou, D.B. (eds) Government Spending on the Elderly. Palgrave Macmillan, London. https://doi.org/10.1057/9780230591448_4
Download citation
DOI: https://doi.org/10.1057/9780230591448_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-35281-4
Online ISBN: 978-0-230-59144-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)