Germany introduced a new mandatory insurance scheme for long-term care in 1995. From a budgetary perspective family care is a cost-saving alternative to formal home care and to stationary nursing care. Thus, one of the goals of the insurance is to support informal care provided by family...

Deductibles in health insurance generate nonlinear budget sets and dynamic incentives. This paper uses detailed individual claims data from a large Swiss insurance company to estimate the response in health care demand to the discrete price increase that is generated by resetting the deductible...

Economic theory predicts that private information on risks in insurance markets leads to adverse selection. To counterbalance private information insurers collect and use information on applicants to assess their risk and calculate premiums in an underwriting process. Using data from the English...

Health insurance status can change over the life cycle for exogenous reasons (e.g. Medicare for the elders, PPACA for younger agents, termination of coverage at retirement in employer-provided plans). Durability of the health capital, endogenous mortality and morbidity, as well as backward...

We provide an assessment of the introduction of experience rating for medical malpractice insurance using 2002-2009 inpatient discharge records data on deliveries from the Italian Region of Piedmont. Considering experience rating as an increase in medical malpractice pressure, we show that such...

Home equity has a strong impact on individual health. In UK household panel data home equity lowers the likelihood of home owners exhibiting a broad range of medical conditions. This is due to increased use of private health care, reduced hours of work and increased exercise. Home equity, unlike...

In this paper we examine whether an incentive scheme for improving research can have adverse effect on research itself. This work is mainly motivated by the Research Assessment Exercise (RAE) and the Research Excellence Framework (REF) in UK. In a game theoretic framework we show that a scheme...

We analyze the effect of school expenditure on children's test scores at age 16 by means of an education production model. By using unique register data of English pupils, we exploit the availability of test scores across time, subjects and siblings to control for various sources of input...

Using administrative data on schools in England, we estimate an education production model of cognitive skills at the end of secondary school. We provide empirical evidence of self-productivity of skills and of complementarity between secondary school inputs and skills at the end of primary...

The 2007-2009 great recession saw sharp drops in equity values world wide and associated strong real effects. We develop an world CAPM approach, extended to allow for infinite risk/return opportunities, short sales constraints, borrowing and saving rate differentials. With MSCI monthly data, we...