Banks, James
[VerfasserIn]
;
Smith, James P.
[Sonstige Person, Familie und Körperschaft];
Levell, Peter
[Sonstige Person, Familie und Körperschaft];
Blundell, Richard
[Sonstige Person, Familie und Körperschaft]National Bureau of Economic Research
Life-Cycle Consumption Patterns at Older Ages in the US and the UK
: Can Medical Expenditures Explain the Difference?
Erschienen:
Cambridge, Mass: National Bureau of Economic Research, August 2016
Erschienen in:NBER working paper series ; no. w22513
Umfang:
1 Online-Ressource
Sprache:
Englisch
DOI:
10.3386/w22513
Identifikator:
Reproduktionsnotiz:
Hardcopy version available to institutional subscribers
Entstehung:
Anmerkungen:
Mode of access: World Wide Web
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Beschreibung:
In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in spite of income paths being similar. We explore several possible causes, including different employment paths, housing ownership and expenses, levels and paths of health status, number of household members, and out-of -pocket medical expenditures. Among all the potential explanations considered, we find that those to do with healthcare--differences in levels and age paths in medical expenses--can fully account for the steeper declines in nondurable consumption in the UK compared to the US