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Wednesday, August 4 • 9:00am - 10:30am
6C1 Spillover effect of long-term care insurance on family caregivers' labor supply

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Xiao Han, School of Economics, Peking University; Zining Liu, School of Insurance, Central University of Finance and Economics, China; Wei Zheng, School of Economics, Peking University

This study examines the effect of long-term care insurance (LTCI) on family caregivers’ labor supply in China. We exploit the introduction of public LTCI in 40 pilot cities in China and implement a difference-in-difference propensity score matching (PSM-DID) technique to disentangle the effect of LTCI and its mediation mechanism. We find that the introduction of LTCI has significant and positive spillover effects on family caregivers’ labor supply both on the extensive and intensive margins and the effects vary by gender and age. The possible mediation mechanisms are caregivers’ health improvement and the re-allocation of time brought about by the substitution of formal long-term care for informal family care. Furthermore, we find LTCI policy design regarded to target groups and reimbursement rules have a significant impact on the above spillover effects using the difference-in-difference-in-difference (DDD) method. We draw attention to these effects, as expanding labor supply to sustain the economy would be a priority for China and other rapidly aging countries in the coming decades.

Discussant
avatar for Julia Holzapfel

Julia Holzapfel

MRIC, LMU Munich

Presenters
avatar for Xiao HAN

Xiao HAN

PhD Candidate, School of Economics, Peking University
Xiao Han is a PhD candidate from School of Economics, Peking University of China. Her research focuses on health insurance, long-term care insurance, and retirement financial products. She completed her bachelor's degree in Astronomy from School of Physics, Peking University.



Wednesday August 4, 2021 9:00am - 10:30am EDT

Attendees (6)