Volume 30, Number 4 (Fall) 1995
Sabelhaus, John, and Joyce Manchester. 1995. "Baby Boomers and Their Parents: How Does Their Economic Well-Being Compare in Middle Age?" Journal of Human Resources 30(4):791-806.
We use survey data to compare the income and consumption of baby boomers in 1989 with that of their parents' generations in the early 1960s when they were the same ages. Various adjustments allow for changes in household composition and living arrangements. We also assess how wealth accumulation by baby boomers compares to that of their parents' generation. We find that boomers on average have accumulated more wealth relative to income at this point in their lives than their parents' generation had at the same stage of life 30 years ago. However, measured consumption has not increased as much as measured income for young adults.
John Sabelhaus is a Researcher at the Urban Institute. Joyce Manchester is a Researcher at the Congressional Budget Office. The views here are those of the authors and do not necessarily reflect those of the Congressional Budget Office or the Urban Institute. Blake Mackey provided excellent research assistance on this project, and two anonymous referees provided useful comments on the original draft. The data used in this article can be obtained beginning in June 1996 through June 1999 from John Sabelhaus, The Urban Institute, 2100 M St. NW, Washington, D.C. 20037.
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