Net worth and the economic diversity of the elderly

Using data from the 1984 panel of the Survey of Income and Program Participation (SIPP), this article examines characteristics of the older population disaggregated by net-worth quintiles. The authors argue that income is not a sufficient measure of economic status for current policy discussions on issues such as changing Medicare co-payments, increasing the taxation of social security benefits, or means-testing under Medicaid. Net worth is a better measure of economic status, particularly for the elderly, because it represents the net value of assets accumulated over the life course. Their results indicate that there is considerable diversity in the economic status of the older population, which is masked by aggregate statistics (such as means and medians) typically used to summarize the economic status of population groups. Stereotypical views of the elderly based on such aggregates result in misdirected policy formulation. In the future, policymakers will need to formulate policies and programs using information on the distributions of income and assets among the older populations rather than relying on statistical aggregates.     

Trends in the Economic Status of the Aged and the Implications for State Policy

This paper examines recent trends in the economic status of the elderly. Particular attention is given to shifts in the income composition of older households and why these shifts have taken place. It is shown that most of these shifts are attributable, either directly or indirectly, to Social Security and private pension policies. The data also reveal that the income mix of poor older households differs greatly from that of more affluent older households. This has implications for the formulation of policies to improve the economic status of the elderly in poverty. Unfortunately, the current policy environment, characterized by large federal deficits, places severe constraints on developing federal programs to aid poor older persons. Thus, it is likely that state governments will need to take increasing responsibility for programs targeted to the aged poor. The paper concludes by considering the potential effectiveness of such programs.     

Racial differences in retirement income: the roles of public and private income sources

Despite great overall improvement in the elderly's economic status over the past two decades, minority elders still comprise the poorest population group of all. Nonetheless, the income security of minority elders has not been given special attention in the scrutiny in recent years of the size and the future of various federal programs affecting older persons. Based on data from the 1971, 1981, and 1991 public-use data tapes of the Current Population Survey, the racial difference in income status of the elderly and the role of Social Security and Supplemental Security income versus that of income from private sources are analyzed in terms of how income inequality among races is ameliorated or escalated. The findings show that racial/ethnic differences in income status increased between 1970 and 1990. The findings also confirm that, for both elderly singles and couples, Social Security is the most important income source. Without it, poverty rates among elderly black couples, for example, would have increased by as much as 48.5 percentage points in 1990. Policies that would help improve the income status of the low-income elderly are discussed.     

Government Capital,Intimate and Community Social Capital,and Food Security Status in Older Adults with Different Income Levels

Whether government‐based forms of food assistance such as the Supplemental Nutrition Assistance Program (SNAP), communal efforts including food pantries, aid from friends and family, or alternative means such as gardening are the appropriate means to reduce the prevalence of household food insecurity is a continuous source of policy contention. To inform this debate, we examine the relative importance of these forms of food assistance and acquisition to a sample of U.S. older adults from the 2010 Brazos Valley Health Assessment of central Texas households that have been stratified by income eligibility for SNAP, low‐income SNAP ineligibility, and above low income status. To identify how membership in these socioeconomic groups constrains household capacity to acquire sufficient food to maintain an adequate and healthy diet, we explore the varied associations of assets received from government; communal and intimate social networks; and alternative food sources such as gardening, hunting, and fishing with household food security across socioeconomic status, while examining the importance of place of residence on the use of capital assets. SNAP participation was the only specific capital asset associated with all levels of food insecurity for both SNAP‐eligible and ineligible low‐income groups, thus emphasizing the continued importance of food assistance among poverty‐level older adults.     

On the Relationship Between the Diversity of the Aging Population and Public Policy

The elderly are a highly diverse population, and demographic projections indicate that the older population will increase in its diversity along lines of gender, race, ability, and income. The article examines the political implications of U.S. policy toward the elderly and the sensitivity of different policies to the increasing heterogeneity. The passage and repeal of the Medicare Catastrophic Coverage Act of 1988 is used as an example of the dangers posed by fissuring of elderly constituencies. The authors assert that focused, targeted, and specific policies are necessary in order to help the vulnerable people left unprotected by the broad-based policies of the past.     

Long-term care policy for the elderly in the Zaporozhye region of Ukraine: a case study of social development following the collapse of Communism

In this paper, we review the status of social policy for the elderly in Ukraine since the fall of Communism and the breakup of the Soviet Union. We specifically address the problem of "rebuilding" an income and services policy for the at-risk elderly after the unraveling of the system that existed prior to the fall of Communism. Also, we address some existing problems faced by the elderly in the health care system. Within this context, we present a case study of the current status of long-term care policy for the elderly in one province of Ukraine, the eastern province of Zaporozhye, encompassing the industrial city of Zaporozhye on the Dnieper River. This case study particularly pays attention to current attempts to promote a social development process of long-term care services for the elderly. It examines recent developments with respect to public sector organizations and voluntary sector organizations that are trying to provide necessary services to the needy elderly. With respect to the voluntary sector, the paper pays particular attention to the American Jewish Joint Distribution Committee (JDC) model of a largely externally funded NGO that provides comprehensive and integrated social supports, while emphasizing local empowerment and the use of volunteers, for the needy Jewish population in the province of Zaporozhye. Based on our findings, we make some proposals regarding the improvement of income and services policy with respect to the elderly in Zaporozhye and Ukraine.     

The effect of disability on the net worth of elderly people

As demographic shifts make the Social Security program financially vulnerable, the responsibility for income security in old age will shift from the government to elderly people. In this changing environment, the accumulation of wealth will be a crucial issue because wealth holders can draw income from assets, which can supplement retirement income. Thus, wealth (or net worth) is a proximate indicator of economic well-being of the elderly. This article presents the findings of a study of the net worth of elderly people with disabilities. The major findings were that a smaller proportion of elderly people with disabilities has assets of any type compared with elderly people with no disability; the dollar value of each type of asset is smaller among elderly people with disabilities than among elderly people with no disability; and the net worth of people with disabilities is smaller than that of elderly people with no disability even after other variables were controlled.     

Public policy implications of elderly interstate migration to Oregon, 1985-1990

Several Oregon counties received a noticeable influx of elderly migrants from other states during the 1980s. Oregon policy regarding taxes, land use, and long-term care is examined for possible influence on migration. Models of elderly migration are examined for insight into how public policy influences migration, and previous research regarding the effects of elderly migration on public policy is reviewed. Data regarding disability and financial vulnerability among elderly by migration status are analyzed for possible influence upon public policy. Change in the population aged 65 and older mirrored state and national patterns for 1980 to 1990 and 1990 to 1999. Interstate elderly arriving in attractive counties reported a low prevalence of disability and financial vulnerability, indicating a low risk of demanding public assistance. Interstate elderly arriving in population centers reported a relatively high prevalence of disability but a low prevalence of financial vulnerability. This may suggest that Oregon's long-term care policy influenced elderly migration.     

The concept and measurement of asset poverty: Levels, trends and composition for the U.S., 1983–2001

American prosperity in the second half of the 1980s together with the booming economy of the 1990s created the impression that American households have done well, particularly in terms of wealth acquisition. In this paper, we develop the concept of “asset poverty” as a measure of economic hardship, distinct from and complementary to the more commonly used concept of “income poverty.” We define a household with insufficient assets to enable it to meet basic needs (as measured by the income poverty line) for a period of three months to be asset poor. The results reveal that in the face of the large growth in overall assets in the U.S. and a fall in standard income poverty over the period from 1983 to 2001, the level of asset poverty increased from 22.4 to 24.5 percent. We also find that asset poverty rates for blacks and Hispanics are over twice those for whites; that asset poverty rates fall monotonically with both age and education; that they are much higher for renters than homeowners; and that by family type they range from a low of 5 percent for elderly couples to 71 percent for female single parents.     

Moving Up in Rural America: Economic Attainment of Nonmetro Latino Immigrants

Rapid Hispanic population growth represents a pronounced demographic transformation in many nonmetropolitan counties, particularly since 1990. Its considerable public policy implications stem largely from high proportions of new foreign‐born residents. Despite the pressing need for information on new immigrants in nonmetro counties and a bourgeoning scholarship on new rural destinations, few quantitative analyses have measured systematically the social and economic well‐being of Latino immigrants. This study analyzes the importance of place for economic well‐being, an important public policy issue related to rural Hispanic population growth. We consider four measures of economic mobility: full‐time, year‐round employment; home ownership; poverty status; and income exceeding the median national income. We conduct this analysis for 2000 and 2006–2007 to capture two salient periods of nonmetro Hispanic population growth, using a typology that distinguishes among nonmetropolitan areas by the categories of “traditional” immigrant destinations concentrated in the Southwest and Northwest, “new” immigrant destinations to capture recent and rapid Hispanic population growth in the Midwest and Southeast, and “all other” rural destinations as a reference category representing more typical nonmetro population trends. We also compare our results to those for metropolitan destinations. We find that place type matters little for stable employment but more so for wealth accumulation and income security and mobility. Compared with urban Latino immigrants, rural Latino immigrants exhibit higher rates of homeownership as well as greater likelihoods of falling into poverty and lower likelihoods of earning a measure of U.S. median income. From 2000 to 2006–2007, rural‐urban differences deteriorated slightly in favor of urban areas. We conclude by discussing implications of these findings and those of addressing rural immigrant economic well‐being more generally.     

Consistent Motives for Inter-Family Transfers: Simple Altruism

The influence of the comparative economic status of elderly parents and their adult children on inter-vivos transfers and inheritance was analyzed. The 1992 Wisconsin Longitudinal Study interview provides new evidence that transfers from parents to mid-life adults are motivated by simple altruism, in contrast to other recent studies that support compensatory altruism or exchange motives. These results are based on income tax records for parents from the late 1950's and respondents' earnings reports for the mid-70's, and within-family analyses of sibling pairs and their income reports in the early 1990's. A policy implication is that government income redistribution will not affect how elderly parents provide financial transfers to their adult children.     

Public Policy Implications of Elderly Interstate Migration to Oregon, 1985-1990

Abstract

Several Oregon counties received a noticeable influx of elderly migrants from other states during the 1980s. Oregon policy regarding taxes, land use, and long-term care is examined for possible influence on migration. Models of elderly migration are examined for insight into how public policy influences migration, and previous research regarding the effects of elderly migration on public policy is reviewed. Data regarding disability and financial vulnerability among elderly by migration status are analyzed for possible influence upon public policy.

Change in the population aged 65 and older mirrored state and national patterns for 1980 to 1990 and 1990 to 1999. Interstate elderly arriving in attractive counties reported a low prevalence of disability and financial vulnerability, indicating a low risk of demanding public assistance. Interstate elderly arriving in population centers reported a relatively high prevalence of disability but a low prevalence of financial vulnerability. This may suggest that Oregon's long-term care policy influenced elderly migration.     

Financial worry among older people: Who worries and why?

This study sought to clarify what drives economic worries among older people. Based upon the data from a national sample of adults aged 65 and older in Israel (N = 550), we examined associations between financial worry and economic status, lifestyle, social network, concerns about functional health, long term care needs and cognition, and population group. The main financial worry was that pension funds will not suffice for one's entire life. Multivariate analysis revealed that financial worry was negatively related to perceived income adequacy and age, and positively related to concerns about care and to apprehensions regarding one's ability to make decisions. Immigrants from the former Soviet Union were found to worry less. Understanding the different sources of financial worries among older people is essential insofar as older people are increasingly expected to take personal responsibility for their financial futures. Dealing with negative outcomes that stem from financial worries are important programming and policy goals in an era of population aging.     

上海农村集体经济组织产权制度改革探索

推进农村集体经济组织产权制度改革是农村改革发展中的一个具有方向性的重大课题,也是在新的历史条件下维护农民集体收益分配权、壮大农村集体经济的重要实现形式。上海市农村集体经济组织产权制度改革工作虽已取得初步成效,但由于缺少国家层面法律法规和相关配套扶持政策的支撑,在一定程度上造成了地方配套扶持政策难以突破,影响了基层参与改革的积极性。建议在国家层面开展对农村集体经济管理方面的立法工作,从法律层面对集体经济组织法人地位的确立、集体经济组织成员身份的界定、集体资产的管理等方面予以明确和规范。     

Aging on the job

The older population is growing faster than the population as a whole. Paid work is the main mechanism for physical activity in humans. We, therefore, wanted to ascertain whether work practices (such as employment status and the types of tasks workers perform) follow the biological decline in physical activity that occurs with aging in humans and many other species. We recorded work practices in 3352 adults in the Ivory Coast to establish how work burdens are distributed across different age groups in a community that is minimally fettered by legal constraints. We found a decrease in the amount of work performed with increasing age, and we found that elderly persons performed more skilled, less exothermic tasks than younger workers. These data mirror global workforce distribution trends expressed by age. If the trend continues, a major portion of the population will be unlikely to contribute to the labor force in the near future, producing potentially adverse economic consequences in some populations. Although the problem might be averted or at least minimized by implementing different employment policies, biological factors could overlay and supervene any economic planning.     

Rural ageing in the United States: Trends and contexts

This paper examines rural population ageing in the United States with a particular focus on the contrasting contexts in which older rural residents live. We compare the characteristics of the older population by rural versus urban residence, and explore challenges and opportunities associated with the ageing of rural baby boomers. The United States is a vast territory, and rural areas in the US are diverse regionally, in poverty and income, principal forms of employment, proximity to metropolitan areas, population size, density and composition, the history of change in these parameters, and a number of other factors that affect the ageing process. Hence, the diversity across rural areas is an important consideration in what affects the well being of rural elderly individuals, as well as the community-level impacts of rural ageing. Further, the characteristics of the older rural population help shape community and rural development outcomes for diverse rural communities. We use data from various US Census Bureau sources, and cite other studies to provide a demographic overview of ageing in the rural United States, and to analyze how this situation differs in varying socio-demographic and regional contexts. In the concluding section, we focus on policy implications associated with rural ageing.     

State and Regional Policy Implications of Elderly Migration

This paper uses the 1980 Census data to estimate the size of the economic transfers associated with the 1985 to 1990 interregional migration of older persons. Total economic transfers are estimated by multiplying interregional migration flows of older persons by the average income of older persons in each migration stream. Assuming an average life expectancy of 15 years for elderly migrants and an expenditure multiplier of 2, the total redistribution of income as a result of 1985 to 1990 elderly migration is estimated to be over $600 billion. The South Atlantic and Mountain regions are the recipients of the largest positive net transfers; the East North Central and West North Central regions have the largest negative net transfers.     

State and regional policy implications of elderly migration

This paper uses the 1980 Census data to estimate the size of the economic transfers associated with the 1985 to 1990 interregional migration of older persons. Total economic transfers are estimated by multiplying interregional migration flows of older persons by the average income of older persons in each migration stream. Assuming an average life expectancy of 15 years for elderly migrants and an expenditure multiplier of 2, the total redistribution of income as a result of 1985 to 1990 elderly migration is estimated to be over $600 billion. The South Atlantic and Mountain regions are the recipients of the largest positive net transfers; the East North Central and West North Central regions have the largest negative net transfers.     

A note on the status of women as a factor in population growth in less developed countries

The 1978 U.S. Bureau of the Census reported 4.3 billion as the world's population. 3.1 billion were living in the less developed areas where life is characterized by poverty and low levels of material well-being. In the develop countries the per capita income averaged $490, compared to $5,210 in developed areas. Little attention has been paid to the status of women in developing countries, where the impact of development often has a negative effect. As a measure of women's status, rates are given for male/female infant mortality. If the ratio is less than 1.14 the status of women is low. If the is 1.15-1.24 the status is medium. If the ratio is 1.25 and over, women enjoy high status. In countries where women have low status the population growth ra averages 3%. Where the status of women is medium, the growth rate is 2.5%. I countries of high status the population growth rate is 2.2. Further research is needed on correlations between population and economic growth, with particula emphasis on subtle factors behind population/economic development.     

Finding the vulnerable among China’s elderly: identifying measures for effective policy targeting

Facing a rapidly aging population, China has recently started to formulate and implement policies with the aim to provide old-age care. While well-developed old-age care policies commonly include a built-in component that assesses eligibility based on vulnerability, no such process is established in the context of China. Here, based on data from the China Health and Retirement Longitudinal Study collected in both 2011 and 2013, we (a) developed a simple and effective strategy for identifying vulnerable Chinese elderly, which can serve as a basis for policy targeting, and (b) improved the policy relevance and targeting efficiency of this vulnerability measure by including additional health indicators. Our vulnerability measures identify 35% to 46% of Chinese elderly as vulnerable, covering up to 67% of elderly at high risk of death or functional decline. They can serve as an initial screening step for more comprehensive geriatric assessments and enable policy makers to effectively target vulnerable elderly persons in China.