Later-life economic inequality in longitudinal perspective.
Data from the National Longitudinal Survey of Older Men were used to estimate economic inequality within three 5-year cohorts as they moved from midlife to later life. The Gini index of inequality increased steadily after age 59, supporting the hypothesis that within-cohort inequality increases in late life. However, a transition analysis found considerable mobility in relative status for individuals over a 15-year period. These results suggest the need to develop a longitudinal perspective on later-life economic status which distinguishes between individual-level and population-level outcomes and identifies the life events and characteristics of individuals that predict changes in economic status. Further research is needed on the processes which lead to later-life inequality, and on the distributional impact of public and private pension policies.
Crystal
S
S
Institute for Health, Health Care Policy, and Aging Research, Rutgers University, New Brunswick, New Jersey, USA. scrystal@rci.rutgers.edu
Waehrer
K
K
D017677:Age Distribution; D000368:Aged; D000375:Aging / Q000523:psychology*; D005260:Female; D006801:Humans; D008137:Longitudinal Studies; D008297:Male; D008875:Middle Aged; D011788:Quality of Life