The heterogeneous effects of the Great Recession on informal care to the elderly

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dc.contributor.author Carro, Jesús M.
dc.contributor.author Pronkina, Elizaveta
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned 2021-10-13T17:34:08Z
dc.date.available 2021-10-13T17:34:08Z
dc.date.issued 2021-10-13
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/33444
dc.description.abstract This paper studies the role of unobserved factors to measure the impact of the economic downturn on informal care availability to the elderly in Europe. We use the Survey of Health, Ageing and Retirement in Europe (SHARE), which allows controlling for socio-demographic variables. Our results show that the impact of the Great Recession on care receipt depends not only on observed, but also on unobserved characteristics. For 21 percent of the sample, the effect is three to four times larger than the average effect for the entire sample. For 57 percent of the sample, there is no effect of the economic crisis, and this is due to unobservable factors. In our estimation process, we are able to characterize how this unobserved heterogeneity correlates with the observable variables. Moreover, we show that if the unobserved heterogeneity in the effect of the crisis is ignored, then we are not able to capture that there is no effect for more than half of the individuals, even if we allow for unobserved heterogeneity in the intercept of the model and for the heterogeneous effect of the crisis based on observables.
dc.description.sponsorship Support from Agencia Estatal de Investigación del Gobierno de España, grant RTI2018-095231-BI00, and Comunidad de Madrid (Spain), grant EPUC3M11 (V PRICIT), are gratefully acknowledged.
dc.language.iso eng
dc.relation.ispartofseries Working paper. Economics
dc.relation.ispartofseries 21-10
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Informal Care
dc.subject.other Great Recession
dc.subject.other Unobserved Heterogeneity
dc.title The heterogeneous effects of the Great Recession on informal care to the elderly
dc.type workingPaper
dc.subject.jel I18
dc.subject.jel J14
dc.subject.jel C2
dc.subject.eciencia Economía
dc.relation.projectID Comunidad de Madrid. EPUC3M11
dc.identifier.uxxi DT/0000001930
dc.contributor.funder Comunidad de Madrid
dc.contributor.funder Agencia Estatal de Investigación
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