Publication: Dynamic modelling of long-term care decisions
Dynamic modelling of long-term care decisions
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Sovinsky, M., & Stern, S. (2013). Dynamic modelling of long-term care decisions (No. 113; Working Paper Series / Department of Economics).
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This paper describes and analyzes research on the dynamics of long-term care and suggests directions for the literature to make progress. We discuss sources and causes of dynamics including inertia/state dependence (confounded by unobserved heterogeneity); match-specific effects; and costs of changing caregivers. We comment on causes of dynamics including learning/human capital accumulation; burnout; and game-playing. We suggest how to deal with endogenous geography; dynamics in discrete and continuous choices; and equilibrium issues
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Sovinsky, M., & Stern, S. (2013). Dynamic modelling of long-term care decisions (No. 113; Working Paper Series / Department of Economics).
