Pensioner ... nancial well - being , equivalence scales and ordered response models ¤
نویسنده
چکیده
This paper uses ordered response models of pensioners’ subjective evaluations of their ...nancial positions to construct equivalence scales for pensioners. A range of di¤erent ordered response models is used. The paper examines the sensitivity of the estimated scale to (a) the econometric model used and (b) the measurement of income. A pensioner couple is found to require on average 1.3 to 1.4 times as much income as a “comparable” single pensioner to experience the same level of ...nancial well-being. This is signi...cantly less than both the semi-o¢cial equivalence scale value and the ratio of state pension rates.
منابع مشابه
The estimation of pensioner equivalence scales using subjective data
This paper uses panel data on pensioners’ subjective evaluations of their financial positions to construct equivalence scales for pensioners. A pensioner couple is estimated to require an income 44% higher than a comparable single pensioner to reach the same standard of living. This is significantly less than the equivalence scale value implied by the ratio of state pension rates, the McClement...
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