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The economics of long-term care. An overview

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  • Klimaviciute, Justina

    (Vilnius University)

  • Pestieau, Pierre

    (Université catholique de Louvain, LIDAM/CORE, Belgium)

Abstract

With the rapid increase in long-term care (LTC) needs, it is important to assess the expected contributions of the traditional providers of LTC: the state, the market and the family. We first survey the literature devoted to the family and the market. Then, given the declining role of family caregiving and the negligible role of the market, we look at a number of studies exploring the design of public policies in support of the dependent elderly, particularly those who cannot count on the assistance from their family and those who lack basic means. Those public policies are conceived in such a way that they also rely on both the market and the family.

Suggested Citation

  • Klimaviciute, Justina & Pestieau, Pierre, 2023. "The economics of long-term care. An overview," LIDAM Reprints CORE 3262, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:3262
    DOI: https://doi.org/10.1111/joes.12538
    Note: In: Journal of Economic Survey, 2023, vol. 37(4), p. 1192-1213
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    2. Rapp, Thomas & Jena, Anupam B. & Costa-Font, Joan & Grabowski, David C., 2023. "Caregiving across generations: Do older adults with more grandchildren get another bite at the “sandwich” generation?," Social Science & Medicine, Elsevier, vol. 334(C).
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    More about this item

    Keywords

    Long-term care ; dependence ; social insurance ; family solidarity ; social norm;
    All these keywords.

    JEL classification:

    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination

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