Wang, H., Mok, C. F. J. & Hanna, S. D. (1994). Are the consumption
patterns of elderly
households consistent with a life cycle model? Asia
Pacific Advances in Consumer Research,
I, 237-245.
Are the Consumption Patterns of Elderly Households
Consistent with a Life Cycle Model?
Chiu
Fui Joyce Mok, Hui
Wang, and Sherman
D. Hanna
A life-cycle savings model was tested to
analyze consumption patterns of elderly U.S. households, using the 1990
and 1991 BLS Interview Survey of Consumer expenditures. The model implies
substantial, planned decreases in consumption after retirement, regardless
of income patterns. The empirical analysis suggests that as the world population
ages, total consumption will decrease, as will most categories of
consumption.