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The opportunity costs of informal elder-care in the United States: new estimates from the American time use survey

journal contribution
posted on 2023-06-08, 17:57 authored by Amalavoyal ChariAmalavoyal Chari, John Engberg, Kristin N Ray, Ateev Mehrotra
Objectives To provide nationally representative estimates of the opportunity costs of informal elder-care in the United States. Data Sources Data from the 2011 and 2012 American Time Use Survey. Study Design Wage is used as the measure of an individual's value of time (opportunity cost), with wages being imputed for nonworking individuals using a selection-corrected regression methodology. Principal Findings The total opportunity costs of informal elder-care amount to $522 billion annually, while the costs of replacing this care by unskilled and skilled paid care are $221 billion and $642 billion, respectively. Conclusions Informal caregiving remains a significant phenomenon in the United States with a high opportunity cost, although it remains more economical (in the aggregate) than skilled paid care.

History

Publication status

  • Published

Journal

Health Services Research

ISSN

0017-9124

Publisher

Wiley-Blackwell Publishing, Inc

Issue

3

Volume

50

Page range

871-882

Department affiliated with

  • Economics Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2014-07-29

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    University of Sussex (Publications)

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