Abstract
An ageing population raises questions about how elderly should be cared for, and about the interplay between familial and market support mechanisms. In this seminar, Professor Charles Horioka will share findings from his latest research on the nexus between long-term care insurance (LTCI), formal care, informal care, and bequests using micro data from Japan, where a public LTCI system was introduced in 2000. His analysis is summarised in a paper co-authored with Emin Gahramanov (American University of Sharjah) and Xueli Tang (Deakin University). Drawing on data from the Japan Household Panel Survey on Consumer Preferences and Satisfaction (JHPS-CPS), the authors find that the introduction of a public long-term care insurance system reduces the likelihood of children providing care to their parents and reduces the likelihood of children receiving a bequest from their parents, implying that such bequests are strategically motivated.
About the presenter
Charles Yuji Horioka was born in Boston, Massachusetts, USA, in 1956 and received his B.A. degree magna cum laude with High Honors in Economics and his Ph.D. degree from Harvard University.
He taught at the Kyoto University, Osaka University, Stanford University, Columbia University, the University of the Philippines, and the Asian Growth Research Institute before assuming his present position at Kobe University.
He is currently President of the Japanese Economic Association, is the immediate past President of the Society of Economics of the Household and is the President-elect of the International Association for Research in Income and Wealth.
His fields of specialty are household economics, the Japanese and Asian economies, macroeconomics, and international finance, and he has published more than 150 scholarly papers in such journals as the Economic Journal, the Review of Economics and Statistics, the International Economic Review, and the Journal of Money, Credit and Banking.
His 1980 paper with Martin Feldstein on the "Feldstein-Horioka Puzzle or Paradox" is one of the most widely cited papers in economics.
In 1991, he received the Nakahara Prize of the Japanese Economic Association, which is given annually to the most outstanding Japanese economist under the age of 45.
Material and video recording
A transcript and captions for the video will be available in due course.