Heterogeneous Effects of a Means-Tested Benefit on Income of Older Adults
Evidence from the Basic (Old-Age) Pension in South Korea
Bibliographic Data
| ID | 11214947 |
|---|---|
| Authors | Taiwon Ha (0000-0001-6243-6967, Ministry of Economy and Finance, corresponding author) |
| Year | 2024 |
| Volume | 50 |
| Issue | 3 |
| Pages | 409-421 |
| Publication date | 2024-05-03 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Social Service Research (JOURNAL) |
| Journal identifiers | ISSN: 0148-8376 • E-ISSN: 1540-7314 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/01488376.2023.2287513 |
| OpenAlex | W4389308006 |
| Language | EN |
| Citations received | 1 |
| References cited | 12 |
In response to severe old-age poverty in South Korea, the Basic Pension has been operated since 2008 for 70% of low-income older adults as a means-tested benefit. It has become an important income supplement for them; however, its expenditure has sharply increased due to rapid population aging. This study analyzed the Korea Household Income and Expenditure Survey using changes-in-changes to examine heterogeneous effects at different income deciles among its development phases in 2008, 2014, 2018, and 2019–2021. First, the largest benefit increase in 2014 records greater income support effects. Second, in terms of heterogeneous effects, the bottom 10th percentile has insignificant effects in 2018 compared to 2014 because it can select another means-tested programme for general citizens, which provides more extensive benefits since 2015. The 20th–50th percentiles presented significant income increase effects. Although the benefits are distributed for the 60th–70th percentiles, who are positioned above the poverty threshold, they consistently displayed insignificant effects. Practically, obtaining a sufficient increase effect like in 2014 may be difficult considering population aging and massive budget pressure. Therefore, it is necessary to collaborate with other social service programmes and concentrate on vulnerable population to provide sustainable welfare services
Decile · Demographic economics · Economic growth · Economics · Environmental health · Index (typography · Pension · Percentile · Population · Poverty · Welfare · Global Health Care Issues · Health disparities and outcomes · Intergenerational Family Dynamics and Caregiving · Medicine
Elasticities and the Inverse Hyperbolic Sine Transformation
Identification and Inference in Nonlinear Difference-in-Differences Models
Regression Shrinkage and Selection Via the Lasso
OECD Framework for Statistics on the Distribution of Household Income, Consumption and Wealth
The Effects of Old-Age Public Transfer on the Well-Being of Older Adults
Sustainable welfare
Basic Old-Age Pension and financial wellbeing of older adults in South Korea
Old‐age poverty in a pension latecomer
Social Insurance in an Aging Population
| Citations per year | 1 |
|---|---|
| Citation span | 2025 - 2025 (1) |
| Highly cited | No |