Long-term care : is there crowding out of informal care, private insurance as well as saving ?

Zweifel, Peter ( Department of Economics, University of Zurich, Switzerland) ; Courbage, Christophe ( Haute école de gestion de Genève, HES-SO // Haute Ecole Spécialisée de Suisse Occidentale)

Publicly provided long-term care (LTC) insurance with means-tested benefits is suspected to crowd out either private LTC insurance (Brown and Finkelstein 2008. The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market. American Economic Review 98(3):1083–102), private saving (Gruber and Yelowitz 1999. Public Health Insurance and Private Saving. Journal of Political Economy 107(6):1249–74; Sloan and Norton 1997. Adverse Selection, Bequests, Crowding Out, and Private Demand for Insurance: Evidence from the Long-term Care Insurance Market. Journal of Risk and Uncertainty 15:201–19), or informal care (Pauly 1990. The Rational Non-purchase of Long-term Care Insurance. Journal of Political Economy 95:153–68; Zweifel and Strüwe 1998. Long-term Care Insurance in a Two-generation Model. Journal of Risk and Insurance 65(1):13–32). This contribution predicts crowding-out effects for both private LTC insurance and informal care on the one hand and private saving and informal care on the other. These effects result from the interaction of a parent who decides about private LTC insurance before retirement and the amount of saving in retirement and a caregiver who decides about effort devoted to informal care. Some of the predictions are tested using a recent survey from China.


Mots-clés:
Type d'article:
scientifique
Faculté:
Economie et Services
Ecole:
HEG GE Haute école de gestion de Genève
Institut:
CRAG - Centre de Recherche Appliquée en Gestion
Classification:
Économie/gestion
Date:
2015
Pagination:
26 p.
Publié dans
Asia-Pacific Journal of Risk and Insurance
Numérotation (vol. no.):
2016, vol. 10, no. 1, pp. 107–132
DOI:
ISSN:
2153-3792
Le document apparaît dans:



 Notice créée le 2016-02-15, modifiée le 2018-08-31

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