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Living Arrangements: Health and Wealth Effects

In: Advances in the Economics of Aging

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  • Axel Borsch-Supan
  • Daniel L. McFadden
  • Reinhold Schnabel

Abstract

This paper investigates the choice of living arrangements among elderly Americans. It has two specific aims. First, because health is not directly measurable and can only be described by indicators such as ADLs and IADLs, it explores a new econometric approach to model the influence of the latent health status on living arrangements. Second, it exploits the NBER Economic Supplement of the Longitudinal Study on Aging to investigate the role of housing and financial wealth in the choice of living arrangements.

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This chapter was published in:

  • David A. Wise, 1996. "Advances in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise96-1, October.
    This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 7324.

    Handle: RePEc:nbr:nberch:7324

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    References

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    1. Alan M. Garber & Thomas E. MaCurdy, 1990. "Predicting Nursing Home Utilization among the High-Risk Elderly," NBER Chapters, in: Issues in the Economics of Aging, pages 173-204 National Bureau of Economic Research, Inc.
    2. Laurence J. Kotlikoff & John N. Morris, 1989. "How Much Care Do the Aged Receive from Their Children? A Bimodal Picture of Contact and Assistance," NBER Chapters, in: The Economics of Aging, pages 151-176 National Bureau of Economic Research, Inc.
    3. David T. Ellwood & Thomas J. Kane, 1990. "The American Way of Aging: An Event History Analysis," NBER Chapters, in: Issues in the Economics of Aging, pages 121-148 National Bureau of Economic Research, Inc.
    4. Axel Borsch-Supan & Jagadeesh Gokhale & Laurence J. Kotlikoff & John N. Morris, 1990. "The Provision of Time to the Elderly by Their Children," NBER Working Papers 3363, National Bureau of Economic Research, Inc.
    5. Steven F. Venti & David A. Wise, 1990. "But They Don't Want to Reduce Housing Equity," NBER Working Papers 2859, National Bureau of Economic Research, Inc.
    6. K. Jöreskog, 1967. "Some contributions to maximum likelihood factor analysis," Psychometrika, Springer, vol. 32(4), pages 443-482, December.
    7. Axel Börsch-Supan, 1989. "Household Dissolution and the Choice of Alternative Living Arrangements among Elderly Americans," NBER Chapters, in: The Economics of Aging, pages 119-150 National Bureau of Economic Research, Inc.
    8. Vassilis A. Hajivassiliou & Axel Borsch-Supan, 1990. "Smooth Unbiased Multivariate Probability Simulators for Maximum Likelihood Estimation of Limited Dependent Variable Models," Cowles Foundation Discussion Papers 960, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:
    1. Liliana E. Pezzin & Robert A. Pollak & Barbara S. Schone, 2007. "Efficiency in Family Bargaining: Living Arrangements and Caregiving Decisions of Adult Children and Disabled Elderly Parents," CESifo Working Paper Series 1908, CESifo Group Munich.
    2. Walker, Joan & Ben-Akiva, Moshe, 2002. "Generalized random utility model," Mathematical Social Sciences, Elsevier, vol. 43(3), pages 303-343, July.
    3. Pal, Sarmistha, 2007. "Effects of Intergenerational Transfers on Elderly Coresidence with Adult Children: Evidence from Rural India," IZA Discussion Papers 2847, Institute for the Study of Labor (IZA).
    4. Erik Meijer & Arie Kapteyn & Tatiana Andreyeva, 2008. "Health Indexes and Retirement Modeling in International Comparisons," Working Papers 614, RAND Corporation Publications Department.
    5. Engelhardt, Gary V. & Greenhalgh-Stanley, Nadia, 2010. "Home health care and the housing and living arrangements of the elderly," Journal of Urban Economics, Elsevier, vol. 67(2), pages 226-238, March.
    6. Aydogan Ulker, 2008. "Household structure and consumption insurance of the elderly," Journal of Population Economics, Springer, vol. 21(2), pages 373-394, April.
    7. Eric V. Edmonds & Kristin Mammen & Douglas L. Miller, 2005. "Rearranging the Family?: Income Support and Elderly Living Arrangements in a Low-Income Country," Journal of Human Resources, University of Wisconsin Press, vol. 40(1).
    8. David Bell & Alasdair Rutherford, 2012. "Long-Term Care and the Housing Market," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(5), pages 543-563, November.
    9. Euwals, Rob, 2000. "Female Labour Supply, Flexibility Of Working Hours, And Job Mobility," CEPR Discussion Papers 2419, C.E.P.R. Discussion Papers.
    10. Florian Heiss & Michael Hurd & Axel Borsch-Supan, 2003. "Healthy, Wealthy, and Knowing Where to Live: Predicted Trajectories of Health, Wealth and Living Arrangements Among the Oldest Old," NBER Working Papers 9897, National Bureau of Economic Research, Inc.
    11. Ainsworth, Martha & Dayton, Julia, 2003. "The Impact of the AIDS Epidemic on the Health of Older Persons in Northwestern Tanzania," World Development, Elsevier, vol. 31(1), pages 131-148, January.
    12. Euwals, Rob, 1999. "Female Labour Supply, Flexibility of Working Hours, and Job Mobility in the Netherlands," IZA Discussion Papers 83, Institute for the Study of Labor (IZA).
    13. Stern, Steven, 1994. "Two Dynamic Discrete Choice Estimation Problems and Simulation Method Solutions," The Review of Economics and Statistics, MIT Press, vol. 76(4), pages 695-702, November.
    14. Ainsworth, Martha & Dayton, Julia, 2001. "The impact of the AIDS epidemic on the health of the elderly in Tanzania," Policy Research Working Paper Series 2649, The World Bank.
    15. Sarmistha Pal, 2004. "Do Children Act As Old Age Security in Rural India? Evidence from an Analysis of Elderly Living Arrangements," Labor and Demography 0405002, EconWPA, revised 15 Oct 2004.

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