CONSUMPTION DYNAMICS NEAR AND AFTER RETIREMENT

退休前后的消费动态

• 批准号: 7644984
• 负责人: MICHAEL D HURD
• 金额: $ 25.98万
• 依托单位: RAND CORPORATION
• 依托单位国家: 美国
• 资助国家: 美国
• 起止时间: 至
• 项目状态: 未结题
• 来源: https://reporter.nih.gov/project-details/7644984
• 关键词: Age; Automobiles; Categories; Clothing; Commit; Condition; Consumption; Data; Data Sources; Decision Making; Differential Mortality; Economic Models; Economic Policy; Event; Expenditure; Food; Health; Health Expenditures; Health Status; Household; Income; Individual; Life Cycle Stages; Mails; Marketing; Measures; Minor; Modeling; Personal Satisfaction; Poverty; Rate; Retirement; Risk; Shock; Social Welfare; Surveys; Time; Variant; base; cohort; consumption measures; discount; family structure; field study; food consumption; interest; mortality; response

Consumption is a better measure of well-being than income particularly among the retired because of the ability to spend out of assets. Yet, because of very limited sources of data on consumption, income is almost universally used to measure well-being for policy and for economic analysis. The life-cycle model is the leading model to explain consumption and saving decisions, and it makes strong predictions about how consumption should vary over the life-cycle. But because of a lack of panel data on consumption in the U.S., many analyses have been based on synthetic panels from the Consumer Expenditure Survey or on partial measures of consumption such as food consumption in the Panel Study of Income Dynamics. This project will use the Consumption and Activities Mail Survey, which is a three-wave panel on spending based on 5000 randomly chosen HRS households, to study consumption paths from the immediate pre-retirement years to advanced old age. The project will compare welfare indicators (such as poverty) based on consumption with those based on income; find the response of consumption and saving to anticipated events such as retirement and unanticipated events such as health shocks or stock market gains or losses; and estimate models of consumption. These models will incorporate returns-to-scale in consumption, mortality risk, and health-care expenditure risk.

消费是比收入更好的衡量福祉的方法，特别是由于退休的资产能力。但是，由于消费数据的来源非常有限，因此收入几乎被普遍用于衡量政策和经济分析的福祉。生命周期模型是解释消费和节省决策的主要模型，并且对消费应如何在生命周期中变化做出了强有力的预测。但是，由于缺乏有关美国消费的面板数据，许多分析是基于消费者支出调查的合成面板或在收入动态研究小组研究中进行的部分消费量（例如食品消费）。这个项目 将使用消费和活动邮件调查，该调查是一个基于5000个随机选择的HRS家庭支出的三波小组，以研究从即时的退休前到高龄的消费路径。该项目将根据消费根据收入来比较基于消费的福利指标（例如贫困）；找到消费和储蓄对预期事件的反应，例如退休和意外事件，例如健康冲击或股票市场的收益或损失；和估计消费模型。这些模型将纳入消费，死亡率风险和医疗支出风险的回报。