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This paper describes and analyzes research on the dynamics of long-term care and suggests directions for the literature to make progress. We discuss sources and causes of dynamics including inertia/state dependence (confounded by unobserved heterogeneity); match-specific effects; and costs of...
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We present a structural model of how families decide who should care for elderly parents. We use data from the National Long-Term Care Survey to estimate and test the parameters of the model. Then we use the parameter estimates to simulate the effects of the existing long-term trends in terms of...
Persistent link: https://www.econbiz.de/10014116145
We use the 1993 wave of the AHEAD data set to estimate a game-theoretic model of families' decisions concerning the provision of informal and formal care for elderly individuals. The outcome is a Nash equilibrium where each family member jointly determines his or her consumption, transfers for...
Persistent link: https://www.econbiz.de/10014057664