Consumption and Saving Behavior of Older and Younger Baby Boomers in Korea

The 1998 Korean Survey of Family Income and Expenditures was used to examine the overall consumption and saving behavior of Korean baby boomers and compared the differences in consumption and saving behavior between older and younger boomers. The t -test results indicated that the younger boomers allocated a significantly higher percentage of their expenditures on food away from home, household appliances, transportation and communication than did the older boomers, whereas the older boomers spent higher amounts and allocated larger budget shares on their children's education than did the younger boomers. The results of Ordinary Least-Squares (OLS) regression analysis showed that, holding other factors constant, older boomers not only spent significantly more in the total consumption expenditures and education expenditures, but older boomers also saved significantly less than did younger boomers.     

Joint tests of non-nested models and general error specifications

This paper is concerned with joint tests of non-nested models and simultaneous departures from homoskedasticity, serial independence and normality of the disturbance terms. Locally equivalent alternative models are used to construct joint tests since they provide a convenient way to incorporate more than one type of departure from the classical conditions. The joint tests represent a simple asymptotic solution to the “pre-testing” problem in the context of non-nested linear regression models. Our simulation results indicate that the proposed tests have good finite sample properties.     

Exploring the link between integrated leadership and public sector performance

This study develops the concept of integrated leadership in the public sector. Integrated leadership is conceived as the combination of five leadership roles that are performed collectively by employees and managers at different levels of the hierarchy. The leadership roles are task-, relations-, change-, diversity-, and integrity-oriented leadership. Using data from the Federal Human Capital Survey and Program Assessment Rating Tool, we analyze the relationship between integrated leadership and federal program performance. The findings from the empirical analysis indicate that integrated leadership has a positive and sizeable effect on the performance of federal sub-agencies. The study concludes with a discussion of the implications of the findings and limitations of the study.     

Social Security and SSI as safety nets for the elderly poor

Partial privatization of Social Security is being considered as an integral part of the future Social Security program for American retirees. Because privatization creates uncertainty about the amount of retirement income that future retirees may expect to receive, the issue of a safety net is critical. This article presents the findings from an empirical study that investigated the degree to which the current Social Security and Supplemental Security Income (SSI) programs provide a safety net, separately and in combination, to the elderly poor. The major findings were that the Social Security program not only increases the income statuses of both posttransfer and pretransfer poor elderly people considerably, but that the program also significantly equalizes the distribution of income among them. In addition, the SSI program supplements the Social Security program in establishing an even greater safety net, especially for posttransfer poor elderly people. On the other hand, Social Security benefits make the income disparity among races greater between both posttransfer and pretransfer poor elderly people. Implications for policy are discussed.     

The impact of religiousness, spirituality, and social support on psychological well-being among older adults in rural areas

This paper presents the results of a study on the impact of spirituality, religiousness, and social support on the psychological well-being among rural elderly. With a rural community sample of 215 older adults, hierarchical regression analyses found significant associations between dimensions of spirituality/religiousness, social support, and psychological well-being, with spirituality/religiousness inversely related to depression and social support, positively related to life satisfaction. Findings of this study suggest that practitioners need to develop programs or services that are congruent with religious/spiritual beliefs and practices in order to better enhance the psychosocial well-being and improve the quality of life among older persons in rural areas.     

Import competition and job displacement: A case study of Korean manufacturing industries

This paper investigates the impact of import competition on job displacement in Korean manufacturing industries. Using a regression model for the period of 1993–2003, the empirical results show that import competition raises the job displacement rate in the Korean manufacturing sector but the elasticity is negligible in its magnitude. Worker characteristics, such as gender, age, job tenure, and education level, proved to be significant in determining the displacement rate. Characteristics of displaced workers in high import-competing industries are also investigated based on the survey data. Workers who lost their jobs in these sectors were slightly older, less educated, and had longer job tenure than the workers in the other groups.     

Older Workers: Who are the working poor in the U.S.?

With data from the 2000 Health and Retirement Study (HRS), the purpose of this study was to provide a profile of older workers who live poverty, and to compare the demographic, financial, employment, and health attributes of such individuals to similar persons not living in poverty. This study found that 3.5% of employed individuals between the ages of 51 and 61 belonged to the class of working poor. The results of the multivariate logistic regression analyses indicated that the older working poor were more likely to be non-White, less educated, non-married, and had lower levels of net worth than the working non-poor. They were more likely to be employed part time and were less likely to be covered by employee-sponsored health insurance.     

Third Shift Women in Business-Owning Families

Using data from the 1997 National Family Business Survey (NFBS), this study identifies factors associated with married women’s employment involvement in business-owning families. While focusing on married women in a third shift situation—working for the family business, for the marketplace, and for managing the household—this study compares business and family characteristics by women’s employment status. The results of multinomial logit regression analysis indicated that family cash flow problems, presence of children age under 6, age of women, business assets, age of business, home-based family business, establishment of business, and industry type were significant predictors of women’s employment decision. The results of the study have further implications for women in a third shift situation among business-owning families.Yoon G. Lee, Utah State University, 2905 Old Main Hill, Logan, UT 84322-2905, USA; e-mail: yoonlee@cc.usu.edu.Gong-Soog Hong, The Ohio State University, 1787 Neil Avenue, Columbus, OH 43210-1295, USA; e-mail: ghong@hec.ohio-state.edu.Barbara R. Rowe, Utah State University, 2949 Old Main Hill, Logan, UT 84322-2949, USA; e-mail: browe@ext.usu.edu.