 Long-term care and capital accumulation: the impact of the State, the market and the familyChiara Canta (), Pierre Pestieau and Emmanuel Thibault Post-Print from HAL Abstract: The rising level of long-term care (LTC) expenditures and their financing sources are likely to impact savings and capital accumulation and henceforth the pattern of growth. This paper studies how the joint interaction of the family, the market and the State influences capital accumulation and welfare in a society in which the assistance the children give to dependent parents is triggered by a family norm. We find that with a family norm in place, the dynamics of capital accumulation differ from those of a standard Diamond (Am Econ Rev 55:1126–1150, 1965) model with dependence. For instance, if the family help is sizeably more productive than other LTC financing sources, pay-as-you-go social insurance might be a complement to private insurance and foster capital accumulation. Keywords: Long-term care; Capital accumulation; Family norms; Public insurance (search for similar items in EconPapers) Published in Economic Theory, 2016, 61 (4), p. 755-785. ⟨10.1007/s00199-016-0957-4⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01343357 DOI: 10.1007/s00199-016-0957-4 Access Statistics for this paper More papers in Post-Print from HAL |
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