Are the Consumption Patterns of Elderly Households Consistent with a Life-Cycle Model?

Chiu Fui Joyce Mok, Hui Wang, and Sherman D. Hanna (1994) ,"Are Consumption Patterns of Elderly Households Consistent With a Life-Cycle Model?", Asia Pacific Advances in Consumer Research Volume 1, 1994, Pages 237-245

18 Pages Posted: 28 Jul 2016 Last revised: 26 Sep 2016

See all articles by Chiu-Fui Mok

Chiu-Fui Mok

Independent

Hui Wang

Independent

Sherman D. Hanna

Ohio State University (OSU)

Date Written: July 21, 1994

Abstract

A life-cycle savings model was tested to analyze consumption patterns of elderly U.S. households, using the 1990 and 1991 BLS Interview Survey of Consumer Expenditures. The model implies substantial, planned decreases in consumption after retirement, regardless of income patterns. The empirical analysis suggests that as the world population ages, total consumption will decrease, as will most categories of consumption.

Keywords: life cycle model, intertemporal consumption smoothing, elderly

JEL Classification: D14; D81; D91; G11

Suggested Citation

Mok, Chiu-Fui and Wang, Hui and Hanna, Sherman D., Are the Consumption Patterns of Elderly Households Consistent with a Life-Cycle Model? (July 21, 1994). Chiu Fui Joyce Mok, Hui Wang, and Sherman D. Hanna (1994) ,"Are Consumption Patterns of Elderly Households Consistent With a Life-Cycle Model?", Asia Pacific Advances in Consumer Research Volume 1, 1994, Pages 237-245. Available at SSRN: https://ssrn.com/abstract=2812676

Chiu-Fui Mok

Independent ( email )

No Address Available

Hui Wang

Independent ( email )

No Address Available

Sherman D. Hanna (Contact Author)

Ohio State University (OSU) ( email )

1787 Neil Avenue
Campbell 265D
Columbus, OH 43210
United States
614-292-4584 (Phone)

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