Public insurance and private savings: who is affected and by how much?
用工具变量分位数回归方法，研究医疗补助对不同财富家庭储蓄的影响，发现对中等净值家庭储蓄的抑制效应最大，而对最穷和最富家庭影响很小。
Abstract This paper employs a recently developed instrumental quantile regression method to investigate the effect of Medicaid on household savings across different wealth groups. It finds that the disincentive effect of Medicaid on household savings is heavily concentrated in the middle net‐worth households. In contrast, the effects on the bottom and top net‐worth households are quite small and insignificant. These heterogeneous incentive effects are partly explained by Medicaid asset tests. Our findings hold regardless of whether affluence is measured in terms of wealth or income. They suggest that despite generating substantial crowd‐out for the mean household, Medicaid expansions are unlikely to discourage the savings of the poorest households. Copyright © 2008 John Wiley & Sons, Ltd.