Replication data for: Life-Cycle Consumption Patterns at Older Ages in the United States and the United Kingdom: Can Medical Expenditures Explain the Difference?

This paper documents significantly steeper declines in nondurable expenditures at older ages in the United Kingdom compared to the United States, in spite of income paths being similar. Several possible causes are explored, including different employment paths, housing ownership and expenses, levels and paths of health status, number of household members, and out-of-pocket medical expenditures. Among all the potential explanations considered, those relating to health care—differences in levels and age paths in medical expenses and medical expenditure risk—can fully account for the steeper declines in nondurable consumption in the United Kingdom compared to the United States.

本研究记录了，尽管收入轨迹相似，但英国老年群体的非耐用品支出下降幅度显著大于美国。本文探讨了若干可能的原因，包括就业路径差异、住房所有权及支出情况、健康状况的水平与变化轨迹、家庭成员数量以及自付医疗支出。在所有纳入考量的潜在解释中，与医疗保健相关的因素——包括医疗支出水平及年龄变化轨迹的差异，以及医疗支出风险——能够完全解释英国非耐用品消费下降幅度大于美国的现象。