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The Intergenerational Impact of Long-term Care Financing Alternatives in Spain

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  • Joan Costa-Font

    (CAEPS & Department de Teoria Econòmica, Universitat de Barcelona, Spain; LSE Health and Social Care, London School of Economics, U.K.)

  • Concepcio Patxot

    (Departament de Teoria Econòmica, Universitat de Barcelona, Spain)

Abstract

This paper examines the financial sustainability of long-term care funding options in Spain. We employ the generational accounting (“GA”) methodology to evaluate the intertemporal impact of funding policies for long-term care services in the face of demographic change. Our findings suggest first that, although at present the system seems actuarially fair, the resources currently employed will be clearly insufficient to fund future needs, due to the demographic dependency of expenditures; second, that the specific tax instrument used to fund long-term care plays a less significant role. Conversely, the role of co-payment turns out to be key in offsetting the adverse effect of demography on the finances of the system. The Geneva Papers on Risk and Insurance (2004) 29, 599–619. doi:10.1111/j.1468-0440.2004.00305.x

Suggested Citation

  • Joan Costa-Font & Concepcio Patxot, 2004. "The Intergenerational Impact of Long-term Care Financing Alternatives in Spain," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 29(4), pages 599-619, October.
  • Handle: RePEc:pal:gpprii:v:29:y:2004:i:4:p:599-619
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    Cited by:

    1. Concepció Patxot & Elisenda Renteria & Miguel Sanchez-Romero & Guadalupe Souto, 2011. "How intergenerational transfers finance the lifecycle deficit in Spain," Chapters,in: Population Aging and the Generational Economy, chapter 10 Edward Elgar Publishing.
    2. Concepció Patxot & Elisenda Rentería & Miguel Romero & Guadalupe Souto, 2012. "Measuring the balance of government intervention on forward and backward family transfers using NTA estimates: the modified Lee arrows," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(3), pages 442-461, June.
    3. Costa-Font, Joan & Rovira-Forns, Joan, 2008. "Who is willing to pay for long-term care insurance in Catalonia?," Health Policy, Elsevier, vol. 86(1), pages 72-84, April.
    4. Joan Costa-Font & Raphael Wittenberg & Concepció Patxot & Adelina Comas-Herrera & Cristiano Gori & Alessandra di Maio & Linda Pickard & Alessandro Pozzi & Heinz Rothgang, 2008. "Projecting Long-Term Care Expenditure in Four European Union Member States: The Influence of Demographic Scenarios," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 86(2), pages 303-321, April.
    5. Adelina Comas-Herrera & Alessandra di Maio & Alessandro Pozzi & ConcepciÛ Patxot & Cristiano Gori & Heinz Rothgang & Joan Costa i Font & Linda Pickard & Raphael Wittenberg, "undated". "How Does Demography affect Long-Term Care Expenditures Projections?," Studies on the Spanish Economy 231, FEDEA.

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