Retiree Welfare and the 2009 Pension Increase: Impacts from an Australian Experiment

Yu, S

Retiree Welfare and the 2009 Pension Increase: Impacts from an Australian Experiment

Yu, S

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Publication Type:: Journal Article
Citation:: Economic Record, 2016, 92 (296), pp. 67 - 80
Issue Date:: 2016-03-01

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Field	Value	Language
dc.contributor.author	Yu, S https://orcid.org/0000-0002-1070-113X	en_US
dc.date.available	2015-10-09	en_US
dc.date.issued	2016-03-01	en_US
dc.identifier.citation	Economic Record, 2016, 92 (296), pp. 67 - 80	en_US
dc.identifier.issn	0013-0249	en_US
dc.identifier.uri	http://hdl.handle.net/10453/41344
dc.description.abstract	© 2016 Economic Society of Australia. The welfare effects from the 2009 increase in the age pension are evaluated using a quasi-experimental, difference-in-difference regression framework. Using microdata to exploit the exogenous and large increase in the single-person pension rate, the research finds significant improvements in the material welfare of single age pensioners. In particular, non-housing and total consumption rose by 7 per cent and 4 per cent, respectively. The effects were amplified among the poorest retirees. The study extends the literature on the welfare benefits of pension programs, and provides evidence that the policy changes were highly effective in lifting the material welfare of the targeted beneficiaries.	en_US
dc.relation.ispartof	Economic Record	en_US
dc.relation.isbasedon	10.1111/1475-4932.12237	en_US
dc.subject.classification	Economics	en_US
dc.title	Retiree Welfare and the 2009 Pension Increase: Impacts from an Australian Experiment	en_US
dc.type	Journal Article
utslib.citation.volume	296	en_US
utslib.citation.volume	92	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	14 Economics	en_US
utslib.for	15 Commerce, Management, Tourism and Services	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Strength - CHERE - Centre for Health Economics Research and Evaluation
utslib.copyright.status	closed_access
pubs.issue	296	en_US
pubs.publication-status	Published	en_US
pubs.volume	92	en_US

Abstract:

© 2016 Economic Society of Australia. The welfare effects from the 2009 increase in the age pension are evaluated using a quasi-experimental, difference-in-difference regression framework. Using microdata to exploit the exogenous and large increase in the single-person pension rate, the research finds significant improvements in the material welfare of single age pensioners. In particular, non-housing and total consumption rose by 7 per cent and 4 per cent, respectively. The effects were amplified among the poorest retirees. The study extends the literature on the welfare benefits of pension programs, and provides evidence that the policy changes were highly effective in lifting the material welfare of the targeted beneficiaries.

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http://hdl.handle.net/10453/41344