Replication data for: The Impact of Medical and Nursing Home Expenses on Savings
Principal Investigator(s): View help for Principal Investigator(s) Karen A. Kopecky; Tatyana Koreshkova
Version: View help for Version V1
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data | 10/25/2021 02:10:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 06:02:PM |
Project Citation:
Kopecky, Karen A., and Koreshkova, Tatyana. Replication data for: The Impact of Medical and Nursing Home Expenses on Savings. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114303V1
Project Description
Summary:
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We consider a life-cycle model with idiosyncratic risk in earnings, out-of-pocket medical and nursing home expenses, and survival. Partial insurance is available through welfare, Medicaid, and social security. Calibrating the model to the United States we show that savings for old-age, out-of-pocket expenses account for 13.5 per- cent of aggregate wealth, half of which is due to nursing home expenses; cross-sectional out-of-pocket nursing home risk accounts for 3 percent of aggregate wealth and substantially slows down wealth decumulation at older ages; and all newborns would benefit if social insurance for nursing home stays was made more generous.
Scope of Project
Subject Terms:
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savings;
health and retirement study (HRS);
nursing homes;
medical expenses
JEL Classification:
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D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
E21 Macroeconomics: Consumption; Saving; Wealth
E62 Fiscal Policy
H51 National Government Expenditures and Health
I13 Health Insurance, Public and Private
I18 Health: Government Policy; Regulation; Public Health
J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
E21 Macroeconomics: Consumption; Saving; Wealth
E62 Fiscal Policy
H51 National Government Expenditures and Health
I13 Health Insurance, Public and Private
I18 Health: Government Policy; Regulation; Public Health
J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
Geographic Coverage:
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United States
Time Period(s):
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1995 – 2008
Data Type(s):
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survey data;
program source code
Methodology
Data Source:
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1995-2008 HRS/AHEAD
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