Why Do the Elderly Save? The Role of Medical Expenses
Why Do the Elderly Save? The Role of Medical Expenses
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DOI：
10.1086/651674
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发表时间：
2010-02-01
影响因子：
8.2
通讯作者：
Jones, John B.
中科院分区：
文献类型：
--
作者：
De Nardi, Mariacristina;French, Eric;Jones, John B.
本文构建了一个考虑医疗费用、预期寿命异质性和遗赠动机的单身退休人员储蓄模型。我们使用最古老的旧数据的资产和健康动力学和模拟矩的方法来估计模型。自付医疗费用随着年龄和永久收入的增长而迅速上升。长寿和需要昂贵的医疗保健的风险是许多高收入老年人储蓄的关键驱动因素。医疗补助（Medicaid）等社会保险项目使最贫困人口的低资产持有量合理化，但同时也使富人受益，因为它为他们提供了在晚年支付高额医疗费用的保险。
This paper constructs a model of saving for retired single people that includes heterogeneity in medical expenses and life expectancies, and bequest motives. We estimate the model using Assets and Health Dynamics of the Oldest Old data and the method of simulated moments. Out-of-pocket medical expenses rise quickly with age and permanent income. The risk of living long and requiring expensive medical care is a key driver of saving for many higher-income elderly. Social insurance programs such as Medicaid rationalize the low asset holdings of the poorest but also benefit the rich by insuring them against high medical expenses at the ends of their lives.