Life-Cycle Consumption Patterns at Older Ages in the US and the UK: Can Medical Expenditures Explain the Difference? / James Banks, Richard Blundell, Peter Levell, James P. Smith.

By:

Banks, James

Contributor(s):

Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w22513.Publication details: Cambridge, Mass. National Bureau of Economic Research 2016.Description: 1 online resource: illustrations (black and white)Subject(s):

Online resources:

Available additional physical forms:

Hardcopy version available to institutional subscribers

Abstract: 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.

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w22513 (Browse shelf(Opens below))	Not For Loan

Total holds: 0

Collection: Colección NBER Close shelf browser (Hides shelf browser)

Previous	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	Next
Previous	nber w22510 Infrequent but Long-Lived Zero-Bound Episodes and the Optimal Rate of Inflation /	nber w22511 The Effects of Pre-Trial Detention on Conviction, Future Crime, and Employment: Evidence from Randomly Assigned Judges /	nber w22512 Augmenting the Human Capital Earnings Equation with Measures of Where People Work /	nber w22513 Life-Cycle Consumption Patterns at Older Ages in the US and the UK: Can Medical Expenditures Explain the Difference? /	nber w22514 The Opportunity Costs of Entrepreneurs in International Trade /	nber w22515 Do Hospital-Owned Skilled Nursing Facilities Provide Better Post-Acute Care Quality? /	nber w22516 Assessing Point Forecast Accuracy by Stochastic Error Distance /	Next

August 2016.

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.