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Financial support for long-term elderly care and household saving behaviour,

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posted on 21.10.2019, 09:43 by Asako Ohinata, Matteo Picchio
In 2002, Scotland introduced a set of reforms which increased the financial support for long-term elderly care. We study how these reforms affected households’ propensity to save. Using a difference-in-differences estimator, we find that the policies reduced the household saving rate by 1.9 percentage points. This amounts to an annual reduction in saving of £503⁠. The estimated effect is heterogeneous; the effect is particularly strong among potential care givers (head of household aged in their 40s) and potential care recipients less likely to receive informal care (singles older than 65 living alone).

Funding

This work was supported by the UK Medical Research Council (Grant no. MR/K022083/1 to A.O.).

History

Citation

Oxford Economic Papers, 2019, gpy073

Author affiliation

/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/School of Business

Version

AM (Accepted Manuscript)

Published in

Oxford Economic Papers

Publisher

Oxford University Press (OUP)

issn

0030-7653

Acceptance date

19/11/2018

Copyright date

2019

Publisher version

https://academic.oup.com/oep/advance-article/doi/10.1093/oep/gpy073/5308378

Notes

The file associated with this record is under embargo until 24 months after publication, in accordance with the publisher's self-archiving policy. The full text may be available through the publisher links provided above.

Language

en

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