Long-term-care utility and late-in-life saving

John Ameriks; Joseph Briggs; Andrew Caplin; Matthew D. Shapiro; Christopher Tonetti

doi:10.1086/706686

Long-term-care utility and late-in-life saving

John Ameriks, Joseph Briggs, Andrew Caplin, Matthew D. Shapiro, Christopher Tonetti

Research output: Contribution to journal › Article › peer-review

Abstract

Older wealth holders spend down assets much more slowly than predicted by classic life-cycle models. This paper introduces healthdependent utility into a model with incomplete markets in which preferences for bequests, expenditures when in need of long-term care, and ordinary consumption combine with health and longevity uncertainty.

Original language	English (US)
Pages (from-to)	2375-2451
Number of pages	77
Journal	Journal of Political Economy
Volume	128
Issue number	6
DOIs	https://doi.org/10.1086/706686
State	Published - Jun 1 2020

ASJC Scopus subject areas

Economics and Econometrics

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10.1086/706686

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title = "Long-term-care utility and late-in-life saving",

abstract = "Older wealth holders spend down assets much more slowly than predicted by classic life-cycle models. This paper introduces healthdependent utility into a model with incomplete markets in which preferences for bequests, expenditures when in need of long-term care, and ordinary consumption combine with health and longevity uncertainty.",

author = "John Ameriks and Joseph Briggs and Andrew Caplin and Shapiro, {Matthew D.} and Christopher Tonetti",

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Long-term-care utility and late-in-life saving

Abstract

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