Informal care and financial stress: Longitudinal evidence from Australia
Isaac Koomson,
Sabrina Lenzen,
Clifford Afoakwah
Abstract:The number of people providing informal care has increased considerably in the last years while, at the same time, about one in four Australians have financial stress problems. This study uses rich longitudinal data from the Household, Income and Labour Dynamics in Australia (HILDA) survey to estimate the effect of informal care on financial stress. To establish causality, we exploit a fixed effect‐instrumental variable approach to address omitted variable bias and reverse causality problems. Our findings show… Show more
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