Evaluating Long-Term-Care Policy Options, Taking the Family Seriously
2015/07/14
研討會日期 : 2015-07-14
時間 : 14:30
主講人 : Professor Daniel Barczyk
主持人 : Professor Juin-Jen Chang
地點 : Conference Room B110
演講者簡介 : Professor Barczyk received his Ph.D. in Economics from New York University at 2011. He is currently an Assistant Professor at McGill University. His research fields are Macroeconomics, Public Finance, and Family Economics.
演講摘要 : We propose a dynamic non-cooperative model for long-term-care decisions of families. We first document the importance of informal caregiving and the economic circumstances of informal-care givers and recipients in the United States. We then build a heterogeneous-agents model with imperfectly-altruistic households to account for the patterns we find. There are two key innovations. First, both young and old households can save but lack the ability to commit to future transfers. Unlike models of commitment, the timing of inter-generational transfers and the dynamics of the intra-family wealth distribution are determinate. Second, in addition to purely-altruistic transfers we allow for financial transfers that flow in exchange for informal care. This gives rise to realistic predictions on a host of care arrangements and their financing. We calibrate the model, identifying the preference for different care arrangements by their prevalence in the data. We find that families’ care decisions react strongly to economic incentives. Even relatively small subsidies to private payers of nursing homes and informal caregivers substantially reduce the use of Medicaid and are welfare-improving.
