2023-09-28 14:46:10 +00:00
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abstract: 'Earlier studies have identified a pattern of cumulative advantage
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leading to increased within-cohort economic inequality over the life
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course, but there is a need to better understand how levels of
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inequality by age have changed in the evolving economic environment of
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recent decades. We utilized Survey of Income and Program Participation
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(SIPP) data to compare economic inequality across age groups for 2010
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versus 1983-1984.
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We examined changing age profiles of inequality using a summary measure
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of economic resources taking into account income, annuitized value of
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wealth, and household size. We adjusted for survey underreporting of
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some income and asset types, based on National Income Accounts and other
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independent estimates of national aggregates. We examined inequality by
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age with Gini coefficients.
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Late-life (65+) inequality increased between the 2 periods, with Gini
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coefficients remaining higher than during the working years, but with a
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less steep age difference in inequality in 2010 than in 1983-1984.
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Inequality increased sharply within each cohort, particularly steeply in
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Depression-era, war-baby, and leading-edge baby boom cohorts. The top
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quintile of elderly received increasing shares of most income sources.
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Increasing inequality among older people, and especially in cohorts
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approaching late life, presages upcoming financial challenges for
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elderly persons in the lower part of the income distribution.
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Implications of this increasingly high-inequality late-life environment
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need to be carefully evaluated as changes are considered in Social
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Security and other safety-net institutions, which moderate impacts of
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economic forces that drive increasingly disparate late-life economic
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outcomes.'
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affiliation: 'Crystal, S (Corresponding Author), Rutgers State Univ, Inst Hlth, Ctr
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Hlth Serv Res, 112 Paterson St, New Brunswick, NJ 08901 USA.
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Crystal, Stephen, Rutgers State Univ, Inst Hlth, Ctr Hlth Serv Res, 112 Paterson
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St, New Brunswick, NJ 08901 USA.
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Shea, Dennis G.; Reyes, Adriana M., Penn State Univ, Coll Hlth \& Human Dev, University
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Pk, PA 16802 USA.'
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author: Crystal, Stephen and Shea, Dennis G. and Reyes, Adriana M.
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author-email: scrystal@rci.rutgers.edu
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author_list:
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- family: Crystal
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given: Stephen
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- family: Shea
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given: Dennis G.
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- family: Reyes
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given: Adriana M.
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da: '2023-09-28'
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doi: 10.1093/geront/gnw056
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eissn: 1758-5341
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files: []
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issn: 0016-9013
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journal: GERONTOLOGIST
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keywords: Income; Wealth; Inequality; Social Security
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keywords-plus: UNITED-STATES; HEALTH; INCOME; EDUCATION; AGE; PERSPECTIVE; EMPLOYMENT
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language: English
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month: OCT
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number: '5'
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number-of-cited-references: '56'
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orcid-numbers: Reyes, Adriana/0000-0002-4133-6825
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pages: 910-920
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papis_id: 172e2f29ebffe22aa0155adb00eea028
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ref: Crystal2017cumulativeadvantage
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times-cited: '94'
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title: Cumulative Advantage, Cumulative Disadvantage, and Evolving Patterns of Late-Life
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Inequality
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000412236100015
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usage-count-last-180-days: '1'
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usage-count-since-2013: '20'
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volume: '57'
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web-of-science-categories: Gerontology
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year: '2017'
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