BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:d03ef149870d7cdfdf7cca8e11b13dbb
CATEGORIES:Seminars
CREATED:20200120T110926
SUMMARY:CANCELLED: Jesús Bueren - European University Institute
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nThe Seminar has been cancelled over concern about the COVID-19 virus ou
 tbreak\n\n\nLong-Term Care Needs: Implications for Savings, Welfare, and Pu
 blic Policy\n\n\nAbstract:\nContrary to the predictions of standard life cy
 cle models, individuals dissave slowly during retirement. I address this pu
 zzle by investigating the role of long-term care (LTC) needs as a determina
 nt of the savings decisions of the elderly and quantify their importance re
 lative to alternative explanations such as medical expenses and bequests. F
 or this purpose, I develop and estimate a model for retired single individu
 als who are heterogeneous in their access to informal care and make an opti
 mal choice of care hours bought in the market. In order to identify heterog
 eneity in LTC needs from LTC expenditure choices, I model LTC needs using a
  dynamic latent variable model that summarizes the rich information contain
 ed in health surveys into four parsimonious health groups and estimate the 
 model by matching hours of care conditional on health and income groups. Th
 e main result is that LTC is a key driver of savings for the high-income el
 derly and significantly more important than bequest motives and medical exp
 enses. In addition, the model highlights the inefficiencies of means-tested
  LTC programs and shows that 40% of the cross-country variation in dissavin
 g rates can be explained by differences in the provision of LTC by the publ
 ic sector.\n
DTSTAMP:20260404T045004Z
DTSTART:20200323T163000Z
DTEND:20200323T180000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR