Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/302249 
Year of Publication: 
2024
Series/Report no.: 
ISER Discussion Paper No. 1250
Publisher: 
Osaka University, Institute of Social and Economic Research (ISER), Osaka
Abstract: 
The purpose of this paper is to conduct a theoretical and empirical analysis of the nexus between long-term care insurance (LTCI), formal care, informal (family) care, and bequests. In our empirical analysis, we use micro data from the Japan Household Panel Survey on Consumer Preferences and Satisfaction (JHPS-CPS), formerly known as the Preference Parameter Study, conducted by Osaka University. Japan is an interesting case to analyze because a public LTCI system was introduced there in 2000. Our analysis shows that, in the case of Japan, if parents are eligible for public LTCI benefits, their children will be less likely to be their primary caregiver and that this, in turn, will reduce their children's perceived likelihood of receiving a bequest from them. This result implies that bequests are selfishly or strategically motivated (i.e., that parents leave bequests to their children in order to elicit care from them) and that the introduction of a public LTCI system will reduce the likelihood of children providing care to their parents and through this channel reduce their perceived likelihood of receiving a bequest from them.
Subjects: 
Altruistic bequests
bequests
caregiving
elderly care
family care
formal care
informal care
long-term care
long-term care insurance
parental care
selfish bequests
strategic bequests
JEL: 
D11
D12
D15
D64
E21
I13
J14
Document Type: 
Working Paper

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