This paper analyzes the reasons for the scarce development of the private long-term care insurance market in Spain, and its relationship with health insurance. We are also interested in the effects the crisis has had both on the evolution of the demand for long-term care insurance and on the existence of regional disparities. We estimate bivariate probit models with endogenous variables using Spanish data from the Survey on Health and Retirement in Europe. Our results confirm that individuals wishing to purchase long-term care insurance are, in a sense, forced to subscribe a health insurance policy. In spite of this restriction in the supply of long-term care insurance contracts, we find its demand has grown in recent years, which we attribute to the budget cuts affecting the implementation of Spain's System of Autonomy and Attention to Dependent People. Regional differences in its implementation, as well as the varying effects the crisis has had across Spanish regions, lead to the existence of a crowding-in effect in the demand for long-term care insurance in those regions where co-payment is based on income and wealth, those that have a lower percentage of public long-term care beneficiaries, or those with a smaller share of cash benefits over total public benefits. Copyright © 2016 John Wiley & Sons, Ltd.
Assessing the impact of environmental externalities has become one of the essential aspects in making economic and urban planning decisions. Our goal focuses on the innovative assessment of noise pollution emitted by military aircraft located at Gando Air Base in 2012. Its impact on the housing market was analyzed for 6447 households affected by more than 55 decibels, limiting our study to three municipalities of Gran Canaria (Spain): Telde, Agüimes and Ingenio. We propose to test several specifications for the hedonic price model and we test among them. This is a basic pre-requisite to estimate the parameters needed to inform policy markets. Our preferred model is a semi-logarithmic specification. We conclude from its results that noise pollution emitted by military aircraft positively affects the price of housings in the area when they are between 55 and 70 decibels so the fact that a property is near a noise source is not in itself conclusive evidence of a loss of real state values.Palabras clave: externalidad ambiental, decibelio, contaminación acústica, precio hedónico, función econométrica RESUMEN La evaluación del impacto de las externalidades ambientales se ha convertido en uno de los aspectos esenciales para la toma de decisiones económicas y de planificación urbana. Nuestro objetivo se centra en la novedosa evaluación de la contaminación acústica emitida por aeronaves militares ubicadas en la Base Aérea Gando en 2012. Se analizó su impacto en el mercado de la vivienda para 6,447 hogares afectados por más de 55 decibeles, lo que limita nuestro estudio a tres municipios de Gran Canaria (España): Telde, Agüimes e Ingenio. Proponemos diversas especificaciones para el modelo hedónico y contrastamos entre ellas. Consideramos que este es un requisito necesario para informar adecuadamente a los responsables de introducir medidas de política. La especificación elegida corresponde a un modelo semi-logarítmico. Se concluye que la contaminación acústica emitida por las aeronaves militares afecta positivamente el precio de las viviendas en la zona cuando están entre 55 y 70
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