Life-cycle expenditure and retirees’ cost of living

Rodrigo Lluberas

No 2013007, Documentos de trabajo from Banco Central del Uruguay

Abstract: The aim of this paper is threefold. First, we document the expenditure life-cycle profile in the United Kingdom and show how differences in the consumption bundle of pensioners and workers translates into different inflation experiences. Albeit differences in given years, the inflation experienced by the two groups is not significantly different over a long time period. Secondly, we estimate a demand system and compute the change in the cost of living and the substitution effect for both pensioners and workers for the period 1990-2009. Finally, we show how pension income would evolve during that period under three alternative indexation measures. Adjusting pension income by the RPI results in a higher income than adjusting by the cost of living index or household inflation

Keywords: consumer demand; cost of living; pension income indexation (search for similar items in EconPapers)
JEL-codes: D12 D60 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Life‐Cycle Expenditure and Retirees’ Cost of Living (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:bku:doctra:2013007

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