The analysis on the poverty characteristics of baby boomers : using models of panel data

The welfare of the elderly becomes one of the emerging problems in Asia, whose baby boomers are about to become the elderly. Few studies, however, have addressed their "potential Need" for social welfare that is expected to rapidly rise soon after retirement. The potential need of these so-called elderly boomers itself also differs according to whether it is from urban and rural areas because urbanised and rural baby boomers have resorted to different income or asset (especially housing) sources. In South Korea, which is a representatively fast-urbanised country in Asia, such different income and asset circumstances are likely to differently affect "post-retirement" poverty as the potential welfare need of urban and rural baby boomers. This article, thus, aims at figuring out the probabilistic characteristics of baby-boomer poverty factors in order to formulate policy implications for urban and rural baby-boomer welfare, utilising a panel logit approach.