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KMID : 1124020100260040021
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Korean Social Security Studies
2010 Volume.26 No. 4 p.21 ~ p.48
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A Comparison of Consumption Expenditure Patterns and Their Determinants of Low-income and High- income Elderly Households
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Jeong Woon-young
Jeong Se-Eun
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Abstract
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This study compared the consumption expenditure patterns and the determinants of expenditure patterns for low-income and high-income elderly househeholds. The data were drawn from KREIS (Korean Retirement and Income Study) surveyed by National Pension Research Institute in 2007. 2,186 couple households which householder’s age were over 65 were selected, resulting in 1,091 with usable data. The statistical methods used for the analyses were t-test, X2, multiple regression analysis, and chow test or wald test. The results showed the differences in the expenditure levels of each consumption category and the shares of each consumption category of total expenditures between low-income and high-income elderly households. Also, the determinants of consumption expenditures patterns were investigated. Major determinants of consumption expenditures functions were the age of householder, educational level of householder, the number of household members, financial assets, real estate. The results of this study would be useful for advising to improve economics status of elderly households.
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KEYWORD
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Consumption expenditure patterns, Low-income elderly household, High- income elderly household
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