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Long-Term Care Insurance and Family Norms

  • Canta Chiara

    ()

    (Universite Catholique de Louvain, Louvain-La-Neuve, Belgium)

  • Pestieau Pierre

    ()

    (University of Liege, Liege, Belgium and TSE, Toulouse, France.)

Abstract: Long-term care (LTC) is mainly provided by the family and subsidiarily by the market and the government. To understand the role of these three institutions, it is important to understand the motives and the working of family solidarity. In this paper, we focus on the case when LTC is provided by children to their dependent parents out of some norm that has been inculcated to them during their childhood by some exemplary behavior of their parents towards their own parents. In the first part, we look at the interaction between the family and the market in providing for LTC. The key parameters are the probability of dependence, the probability of having a norm-abiding child and the loading factor. In the second part, we introduce the government which has a double mission: correct for a prevailing externality and redistribute resources across heterogeneous households.

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Article provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.

Volume (Year): 14 (2013)
Issue (Month): 2 (April)
Pages: 401-428

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Handle: RePEc:bpj:bejeap:v:14:y:2013:i:2:p:401-428:n:2
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  1. Shleifer, Andrei & Summers, Lawrence H. & Bernheim, B. Douglas, 1986. "The Strategic Bequest Motive," Scholarly Articles 3721794, Harvard University Department of Economics.
  2. CREMER, Helmuth & PESTIEAU, Pierre, 2011. "Social long term care insurance and redistribution," CORE Discussion Papers 2011024, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Kureishi, Wataru & Wakabayashi, Midori, 2010. "Why do first-born children live together with parents?," Japan and the World Economy, Elsevier, vol. 22(3), pages 159-172, August.
  4. Bisin, A. & Verdier, T., 1997. "The Economics of Cultural Transmission and the Dynamics of Preferences," DELTA Working Papers 97-03, DELTA (Ecole normale supérieure).
  5. Steven Stern & Bridget Hiedemann, 1999. "Strategic Play Among Family Members When Making Long-Term Care Decisions," Virginia Economics Online Papers 321, University of Virginia, Department of Economics.
  6. Laurence J. Kotlikoff & Avia Spivak, 1979. "The Family as an Incomplete Annuities Market," NBER Working Papers 0362, National Bureau of Economic Research, Inc.
  7. JOUSTEN, Alain & LIPSZYC, Barbara & MARCHAND, Maurice & PESTIEAU, Pierre, . "Long-term care insurance and optimal taxation for altruistic children," CORE Discussion Papers RP -1753, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. PESTIEAU, Pierre & SATO, Motohiro, 2004. "Long term care: the state, the market and the family," CORE Discussion Papers 2004082, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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