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This paper analyzes the welfare effects of the Italian social security system in an economy with uncertainty on wages, financial market returns and life expectancy. The introduction of a pension system reproducing the Italian statutory scheme turns out to decrease ex-ante individual welfare,...
Persistent link: https://www.econbiz.de/10010266019
Can the expansion of Medicaid, a means-tested health and long-term care insurance, be slowed down by incentivising the …-in-differences (DD) design we study the effect of the rollout of the LTCIP program between 2005 and 2016 on both LTCI uptake and Medicaid … eligibility, and we estimate the effect on Medicaid savings. Drawing on a difference-in-differences (DD) design, we find that …
Persistent link: https://www.econbiz.de/10012658041
American families and a major challenge to the sustainability of Medicaid. To address the latter, the long-term care … eligible for Medicaid to pay her LTSS expenses, and thereby reduce Medicaid expenditures. This paper exploits two unique … progressive development of the LTCP, we identify differences in trends in insurance uptake and Medicaid long-term care …
Persistent link: https://www.econbiz.de/10010480892
COVID-19 outbreaks at nursing homes during the recent pandemic, which received ample media coverage, may have lasting negative impacts on individuals’ perceptions regarding nursing homes. We argue that this could have sizable and persistent implications for savings and longterm care policies....
Persistent link: https://www.econbiz.de/10013212256
In an environment with asymmetric information the implementation of a first-best efficient Clarke-Groves-Vickrey (D?Aspremont-Gérard-Varet) mechanism may not be feasible if it has to be self-financing. By using intergenerational transfers, the arising budget deficit can generally be covered in...
Persistent link: https://www.econbiz.de/10010261164
We conduct a stated-choice experiment where respondents are asked to rate various insurance products aimed to protect against financial risks associated with long-term care needs. Using exogenous variation in prices from the survey design, and objective risks computed from a dynamic...
Persistent link: https://www.econbiz.de/10011777563
The study of optimal long-term care (LTC) social insurance is generally carried out under the utilitarian social criterion, which penalizes individuals who have a lower capacity to convert resources into well-being, such as dependent elderly individuals or prematurely dead individuals. This...
Persistent link: https://www.econbiz.de/10012866386
This study compares alternative designs of an unfunded pension system. Convex combinations between a fixed contribution rate and a fixed benefit rate are considered. The objective is to maximize the expected ex-ante welfare under stochastic fertility. The model is a three-period CGE framework...
Persistent link: https://www.econbiz.de/10010261351
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper is the first to provide detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our...
Persistent link: https://www.econbiz.de/10010323013
A Beveridgean pension scheme invariably reduces the marginal return to labour, and will thus discourage labour. A Bismarckian scheme can do so only if it is not actuarially fair, or in the presence of credit rationing. In any case, the same pension contribution will discourage labour less if the...
Persistent link: https://www.econbiz.de/10010263955