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KMID : 1124020170330010117
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Korean Social Security Studies
2017 Volume.33 No. 1 p.117 ~ p.140
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A Study on Household Income, Labor and Consumption of Elderly Households
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Choi Eun-Young
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Abstract
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This study estimated the effects of elderly households` assets, household income and labor on elderly households` consumption by using Korean Longitudinal Study of Ageing(KLoSA) of Korea Employment Information Service. As the analysis method, we used OLS(Ordinary Least Squares) to verify a causal relationship between the variables in the form of a structural equation of Fully Recursive Model. The analysis results are as follows: First, elderly households` assets and household income are in a complementary relationship and the level of household assets affects the level of household income. Second, the level of household assets reduces the incentives for the elderly`s participation in economic activities but the level of household income attracts the elderly`s participation in economic activities. Third, the level of household assets and household income of the elderly affects the level of household consumption but the direct effect of the elderly`s participation in economic activities on household consumption was not shown. These results suggest that population aging policy considering the financial factors and labor and environmental factors of elderly households is required.
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KEYWORD
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Elderly Households, Household Income, Labor, Household Consumption
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