G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w29689
来源IDWorking Paper 29689
Long-Term Care Insurance Financing Using Home Equity Release: Evidence from an Online Experimental Survey
Katja Hanewald; Hazel Bateman; Hanming Fang; Tin Long Ho
发表日期2022-01-24
出版年2022
语种英语
摘要This paper explores new mechanisms to fund long-term care using housing wealth. Using data from an online experimental survey fielded to a sample of 1,200 Chinese homeowners aged 45-64, we assess the potential demand for new financial products that allow individuals to access their housing wealth to buy long-term care insurance. We find that access to housing wealth increases the stated demand for long-term care insurance. When they could only use savings, participants used on average 5% of their total (hypothetical) wealth to purchase long-term care insurance. When they could use savings and a reverse mortgage, participants used 15% of their total wealth to buy long-term care insurance. With savings and home reversion, they used 12%. Reverse mortgages do not require regular payments until the home is sold, while home reversion involves a partial sale and leaseback. Our results inform the design of new public or private sector programs that allow individuals to access their housing wealth while still living in their homes.
主题Microeconomics ; Households and Firms ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions
URLhttps://www.nber.org/papers/w29689
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/587363
推荐引用方式
GB/T 7714
Katja Hanewald,Hazel Bateman,Hanming Fang,et al. Long-Term Care Insurance Financing Using Home Equity Release: Evidence from an Online Experimental Survey. 2022.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
w29689.pdf(769KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Katja Hanewald]的文章
[Hazel Bateman]的文章
[Hanming Fang]的文章
百度学术
百度学术中相似的文章
[Katja Hanewald]的文章
[Hazel Bateman]的文章
[Hanming Fang]的文章
必应学术
必应学术中相似的文章
[Katja Hanewald]的文章
[Hazel Bateman]的文章
[Hanming Fang]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w29689.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。