Social Welfare Orderings: A Life‐Cycle Perspective

Ramses Abul Naga

Economica, 2005, vol. 72, issue 287, 497-514

Abstract: Life‐cycle theories emphasize the fact that consumption is allocated intertemporally, on the basis of a long‐term concept of resources that differs from household income. Because life‐cycle income is unobserved, the distribution of this variable cannot be recovered. It is shown that, within a suitably defined class, a predictor of life‐cycle income based on household income and expenditure entails a distribution dominated in a social welfare sense by the distribution of life‐cycle incomes. A predictor constructed from socio‐demographic variables induces a distribution that welfare‐dominates the distribution of life‐cycle incomes.

Date: 2005
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https://doi.org/10.1111/j.0013-0427.2005.00427.x

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Working Paper: Social Welfare Orderings: A Life-Cycle Perspective (2001)
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