What are the costs of dementia in Europe?

Elena Bassoli (), Agar Brugiavini () and Ludovico Carrino
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Elena Bassoli: ETH Zürich; Ca’ Foscari University of Venice
Agar Brugiavini: Department of Economics, Ca’ Foscari University of Venice; Institute for Fiscal Studies
Ludovico Carrino: University of Trieste; King’s College London

No 2024: 13, Working Papers from Department of Economics, University of Venice "Ca' Foscari"

Abstract: This paper provides new evidence on the cost of long-term care for individuals and society by looking at the onset of dementia in a population of older individuals aged 50 and above. By exploiting the Survey of Ageing and Retirement in Europe (SHARE) and the English Longitudinal Survey of Ageing (ELSA), we causally assess how a dementia shock affects commodities purchases and other domains of individual's life, in the short-run. We find that individuals reduce food consumption and increase rent and housing-related expenditures. We show that the demand for care is also affected, with an increase in both hospital, formal and informal care. Results are robust to alternative definitions of the shock and sensitivity analyses. Additionally, we discover spill-over effects on the spouse's well-being when the partner becomes sick. Finally, we compute the financial burden on individuals following a dementia diagnosis in terms of formal and informal care costs.

Keywords: health economics; long-term care; SHARE; ELSA; welfare costs (search for similar items in EconPapers)
JEL-codes: I12 I14 J14 (search for similar items in EconPapers)
Pages: 74 pages
Date: 2024
New Economics Papers: this item is included in nep-age, nep-hea and nep-mac
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