The Impact of Long-Term Care Insurance on Wealth Inequality in Elderly Households
Wealth-balanced development is a critical component in regulating mechanisms for wealth accumulation and achieving shared prosperity.This study utilizes data from the China Health and Retirement Longitudinal Study(CHARLS)spanning 2011-2018,em-ploying a Double Differences(DID)model to investigate the impact of long-term care insurance on wealth inequality in elderly house-holds and its underlying mechanisms.The findings reveal that,during the pilot's third to fifth years,long-term care insurance signifi-cantly reduces wealth inequality in elderly households,with a more substantial effect on families facing disability-related challenges.As the values of wealth inequality quantiles increase,the inhibitory effect of long-term care insurance on wealth inequality diminishes,indicating its effectiveness in alleviating wealth inequality in households with lower caregiving expenses,while its impact on households with higher expenses is more limited.Further mechanistic analysis uncovers that long-term care insurance primarily operates by narro-wing income disparities and alleviating family liquidity constraints to reduce overall wealth inequality.
long-term care insurancewealth inequalityincome disparitiesliquidity constraints
国家科技期刊平台
NSTL
万方数据
