Nursing Homes in Equilibrium: Implications for Long-term Care Policies

Tatyana Koreshkova and Minjoon Lee
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Tatyana Koreshkova: Concordia University

Working Papers from University of Michigan, Michigan Retirement Research Center

Abstract: We build an equilibrium model of the market for nursing home care with decision-makers on both sides of the market. The nursing home demand arises as a result of stochastic dynamic optimizations by households heterogeneous in age, health, wealth; and the cost of home-and-community-based care. On the supply side, locally competitive nursing homes decide prices and care intensity. The government pays for the long-term care of the poorest. We estimate the model parameters using Health and Retirement Survey and simulate the model to quantitatively evaluate the effects of long-term care policies on prices, intensities, care allocation, and welfare.

Pages: 82 pages
Date: 2020-09
New Economics Papers: this item is included in nep-age, nep-dge and nep-hea
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Citations: View citations in EconPapers (7)

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Working Paper: Nursing Homes in Equilibrium: Implications for Long-term Care Policies (2021)
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