| Budget Amount *help |
¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000)
Fiscal Year 2016: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2014: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Outline of Final Research Achievements |
We build a life-cycle model with endogenous long term care (LTC) expenditures. The model includes both married and single households to capture the family structure that is important for precautionary savings and LTC decisions. Married individuals face the risk of a spouse needing LTC and quickly depleting joint assets.However, those needing LTC can benefit from the presence of a healthy spouse who provides informal care, lowering the costs of LTC. Based on the household-level data, HRS and MEPS, we use the calibrated model to estimate the importance of family dynamics and quantify the impacts of LTC policy reforms such as the provision of a universal public system that pays for a minimum level of LTC costs.
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