Arbeitspapier
Unpaid and paid care: The effects of child care and elder care on the standard of living
Transforming care for children and the elderly from a private to a public domain engenders a series of benefits to the economy that improve our standard of living. We assess the positive impacts of social care from both receivers' and providers' points of view. The benefits to care receivers are various, ranging from private, higher returns to education to enhancing subjective well-being and health outcomes. The economy-wide spillovers of the benefits are noteworthy. Early childhood education reduces costs of law enforcement and generates higher long-term economic growth. Home-based health care lowers absenteeism and job losses that otherwise undermine labor productivity, providing adequate care at a lower cost and delaying admission into high-cost institutional care. Social care improves mothers' labor-market attachment with higher lifetime income; it also lowers physical and psychological burdens of elder care that are becoming more prevalent with an aging population. Social care investment creates more job opportunities than other public spending, especially for workers from poor households and with low levels of educational attainment. The broad contributions of social care to our standard of living should be recognized in the public discourse, particularly in this era of fiscal austerity.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 691
- Classification
-
Wirtschaft
Fertility; Family Planning; Child Care; Children; Youth
Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
Particular Labor Markets: Public Policy
- Subject
-
child care
elder care
social care
quality of life
- Event
-
Geistige Schöpfung
- (who)
-
Kim, Kijong
Antonopoulos, Rania
- Event
-
Veröffentlichung
- (who)
-
Levy Economics Institute of Bard College
- (where)
-
Annandale-on-Hudson, NY
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Kim, Kijong
- Antonopoulos, Rania
- Levy Economics Institute of Bard College
Time of origin
- 2011
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Who cares? Paid sick leave mandates, care-giving, and gender
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Nursing and self-care in the world of psychiatric care
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