Thinking of Incentivizing Care? The Effect of Demand Subsidies on Informal Caregiving and Intergenerational Transfers by Joan Costa-Font, Sergi Jimenez-Martin, Cristina Vilaplana :: SSRN

December 5, 2016

We still know little about what motivates the informal care arrangements provided in old age. The introduction of demand-side subsidies such as unconditional caregiving allowances (cash benefits designed either to incentivize the provision of informal care, or compensate for the loss of employment of informal caregivers) provide us with an opportunity to gain a further understanding of the matter. In this paper we exploit a quasi-natural experiment to identify the effects of the inception in 2007 (and its reduction in 2012) of a universal caregiving allowance on both the supply of informal care, and subsequent intergenerational transfer flows. We find evidence of a 30% rise in informal caregiving after the subsidy, and an increase (reduction) in downstream (upstream) intergenerational transfers of 29% (and 15%). Estimates were heterogeneous by income and wealth quantiles. Consistently, the effects were attenuated by a subsequent policy intervention; the reduction of the subsidy amidst austerity cuts in 2012.

Source: Thinking of Incentivizing Care? The Effect of Demand Subsidies on Informal Caregiving and Intergenerational Transfers by Joan Costa-Font, Sergi Jimenez-Martin, Cristina Vilaplana :: SSRN


The Return to Education in Terms of Wealth and Health by Holger Strulik :: SSRN

November 8, 2016

This study presents a new view on the association between education and longevity. In contrast to the earlier literature, which focused on inefficient health behavior of the less educated, we investigate the extent to which the education gradient can be explained by fully rational and efficient behavior of all social strata. Specifically, we consider a life-cycle model in which the loss of body functionality, which eventually leads to death, can be accelerated by unhealthy behavior and delayed through health expenditure. Individuals are heterogeneous with respect to their return to education. The proposed theory rationalizes why individuals equipped with a higher return to education chose more education as well as a healthier lifestyle. When calibrated for the average male US citizen, the model motivates about 50% percent of the observable education gradient by idiosyncratic returns to education, with causality running from education to longevity. The theory also explains why compulsory schooling has comparatively small effects on longevity and why the gradient gets larger over time through improvements in medical technology.

Source: The Return to Education in Terms of Wealth and Health by Holger Strulik :: SSRN


Employment Projections: 2014-24 Summary

December 9, 2015

Healthcare occupations and industries are expected to have the fastest employment growthand to add the most jobs between 2014 and 2024, the U.S. Bureau of Labor Statisticsreported today.

9 of the 15 fastest growing occupations are in health care.

Source: Employment Projections: 2014-24 Summary


Remuneration of doctors (general practitioners and specialists) – Health at a Glance 2015 – OECD iLibrary

November 11, 2015

The remuneration level for different categories of doctors has an impact on the financial attractiveness of different medical specialties. In many countries, governments influence the level and structure of physician remuneration by being one of the main employers of physicians or purchaser of their services, or by regulating their fees.

Source: Remuneration of doctors (general practitioners and specialists) – Health at a Glance 2015 – OECD iLibrary


The Physician Specialty Shortage | RealClearPolicy

March 12, 2015

Over the last decade there has been increasing concern about an impending shortage of primary-care physicians. The most cited study projecting a shortage of these doctors (whose specialties include internal medicine, family medicine, and pediatrics) was published by the Association of American Medical Colleges Center for Workforce Studies in 2008, and its projections were updated in 2010 to take account of the Affordable Care Act. Lost in the dire warnings is an equally alarming shortage of non-primary-care physicians: The same organization puts the numbers at 33,100 this year; 46,109 by 2020; and 64,600 by 2025.

via The Physician Specialty Shortage | RealClearPolicy.


The Real Problem With Medical Education Isn’t The Residency Matching System

May 27, 2014

Much attention has been recently devoted to changing the first two years, but equal attention must be given to improving the experience during the third and fourth years. Clinical rotations teach medical students to integrate their knowledge and adapt it to the unique circumstances and needs of individual patients. It is this ability that separates physicians from other medical professionals, and as such the cultivation of this ability should be the foremost goal of medical education. Just like medicine itself, changing conditions in the world of medical education lead to the emergence of unanticipated new problems over time, which can only be addressed if we are willing to adapt our practices as we begin to understand the origins of these problems.

via The Real Problem With Medical Education Isn't The Residency Matching System.


How A Nobel Economist Ruined The Residency Matching System For Newly Minted M.D.’s

April 16, 2014

This year, 5.6% of US allopathic (MD) seniors did not match, and 22.3% of US osteopathic (DO) seniors did not match. On the whole, 25.0% of applicants in the NRMP Match did not match – with a 25% unemployment rate, how successful is the Match, really?

This system is highly wasteful. It incurs massive costs for hospitals and students through the interview process, precludes contract negotiations that could optimize value for both parties and results in depressed wages for young physicians. Additionally, it incurs significant opportunity cost in trading interviews for educational senior year curricula, causes undue duress for applicants and their families and contributes to decreased quality of care in physicians unsatisfied with results of the Match.

via How A Nobel Economist Ruined The Residency Matching System For Newly Minted M.D.’s.