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‘Investing’ in care for old age? An examination of long-term care expenditure dynamics and its spillovers

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dc.contributor.authorCosta Font, Joan
dc.contributor.authorVilaplana Prieto, Cristina
dc.contributor.departmentFundamentos del Análisis Económico
dc.date.accessioned2025-01-09T13:43:42Z
dc.date.available2025-01-09T13:43:42Z
dc.date.issued2023-01
dc.description© The Author(s) 2022, corrected publication 2022. This manuscript version is made available under the CC-BY 4.0 license http://creativecommons.org/licenses/by/4.0/ This document is the Accepted version of a Published Work that appeared in final form in Empirical Economics. To access the final edited and published work see https://doi.org/10.1007/s00181-022-02246-0es
dc.description.abstractWe study the dynamic drivers of expenditure on long-term care (LTC) programmes, and more specifically, the effects of labour market participation of traditional unpaid caregivers (women aged 40 and older) on LTC spending, alongside the spillover effects of a rise in LTC expenditure on health care expenditures (HCE) and the economy (per capita GDP). Our estimates draw from a panel of more than a decade worth of expenditure data from a sample of OECD countries. We use a panel vector auto-regressive (panel-VAR) system that considers the dynamics between the dependent variables. We find that LTC expenditure increases with the rise of the labour market participation of the traditional unpaid caregiver (women over 40 years of age), and that such expenditures rise exerts large spillover effects on health spending and the economy. We find that a 1% increase in female labour participation gives rise to a 1.48% increase in LTC expenditure and a 0.88% reduction in HCE. The effect of LTC spending over HCE is mainly driven by a reduction in inpatient and medicine expenditures, exhibiting large country heterogeneity. Finally, we document significant spillover effects of LTC expenditures on per capita GDP.es
dc.formatapplication/pdfes
dc.format.extent30es
dc.identifier.citationEmpirical Economics, 2023, Vol. 64, pp. 1-30
dc.identifier.doihttps://doi.org/10.1007/s00181-022-02246-0
dc.identifier.issnPrint: 0377-7332
dc.identifier.issnElectronic: 1435-8921
dc.identifier.urihttp://hdl.handle.net/10201/148138
dc.languageenges
dc.relationWe also thank Spain’s Ministry of Science, Innovation and Universities (MICINN) and the ERDF for financial support: PID2020-114231RB-I00 and RTI2018-095256-BI00.es
dc.relation.ispartofProyecto de investigación:es
dc.relation.publisherversionhttps://link.springer.com/article/10.1007/s00181-022-02246-0es
dc.rightsinfo:eu-repo/semantics/openAccesses
dc.rightsAtribución 4.0 Internacional*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.subjectLong-term care spendinges
dc.subjectPanel VARes
dc.subjectDynamic panel dataes
dc.subjectFEmale labour market participationes
dc.subjectHealth spendinges
dc.subjectCare spilloverses
dc.title‘Investing’ in care for old age? An examination of long-term care expenditure dynamics and its spilloverses
dc.typeinfo:eu-repo/semantics/articlees
dspace.entity.typePublicationes
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