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Centre for Policy on Ageing | |
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| Income dynamics and the life cycle | | Author(s) | John Rigg, Tom Sefton |
| Corporate Author | ESRC Centre for Analysis of Social Exclusion - CASE, Suntory-Toyota International Centres for Economics and Related Disciplines - STICERD, London School of Economics and Political Science |
| Publisher | STICERD, London, 2004 |
| Pages | 41 pp (CASEpaper 81) |
| Source | Centre for Analysis of Social Exclusion, London School of Economics, Houghton Street, London WC2A 2AE. http://sticerd.lse.ac.uk/case |
| Keywords | Income [older people] ; Poverty ; Life span ; Longitudinal surveys. |
| Annotation | A person's age and family circumstances - the factors that shape the life cycle - affect the likelihood of experiencing key life events, such as partnership formation, having children, or retirement. This in turn affects their probability of experiencing rising, falling or other income trajectories. The authors use the first ten waves of the British Household Panel Survey (BHPS, 1991 to 2000) to analyse the income trajectories at different stages in people's lives, to build up a picture of income dynamics over the whole life cycle. They find that particular life events are closely related to either rising or falling trajectories, but that there is considerable heterogeneity in income following these different events. Typically, individuals experiencing one of these life events are around twice as likely to experience a particular income trajectory, but most individuals will not follow the trajectory most commonly associated with that life event. This work improves our understanding of the financial impact of different life events, and provides an indication of how effectively the welfare state cushions people against the potentially adverse impact of certain events. (RH). |
| Accession Number | CPA-040609508 B |
| Classmark | JF: W6: BG6: 3J |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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