{"id":70367,"date":"2023-12-02T07:38:32","date_gmt":"2023-12-02T06:38:32","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/the-economic-impact-of-long-term-care-services-2\/"},"modified":"2024-06-20T02:38:49","modified_gmt":"2024-06-20T00:38:49","slug":"the-economic-impact-of-long-term-care-services-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/","title":{"rendered":"The Economic Impact of Long-term Care Services"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-70367","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Projections show sharp increases in public spending on long-term care (LTC) services across Europe. However, a purely cost-based focus on LTC services is economically misleading. Private and public expenditure on LTC services directly and indirectly generates income in the form of salaries, taxes, and social security contributions. The aim of this paper is to quantify the economic impact and multipliers of LTC services for Austria. Based on an econometric regional Input-Output model for Austria, we estimate the direct, indirect, and induced effects of public and private expenditures on value added, employment, taxes, and social security contributions. According to our results, each euro spent on LTC services is associated with domestic value added of 1.70 \u20ac; 70 cents per euro spent flows into public budgets in the form of taxes and social security contributions. The economic multipliers of the LTC services are comparatively high due to the high share of wages and salaries in direct expenditure and the associated high direct value added. Public expenditure on professional care services should therefore not be regarded merely as a cost factor in the public budget. Rather, this rapidly growing economic sector is also an increasingly important economic factor in a time of ageing societies. While the model does not provide information on the causal economic effect of the LTC sector, the findings are still highly important for planners of LTC reforms, as they provide information on the total value added associated with LTC expenditures and on the total number of jobs that these expenditures sustain.","onlinedate":"2022-08-09 02:00:00","lang":"English","publication_series":"","publication_date":"20220809","publication_date_year":"","publication_date_full":true,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"https:\/\/doi.org\/10.1515\/zsr-2022-0009","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"68","monthly_report_pages":"211-235","monthly_report_pages_sort":"211","issue":"2","journal":"Zeitschrift f\u00fcr Sozialreform","publisher":"","invisible":false,"external":true,"embargo_date":null,"types":[83083],"research_groups":[3481,3510],"collaboration":"","persons":[3879,4401,3724],"persons_data":"[{\"personId\":3879,\"personName\":\"Gerhard Streicher\",\"organisationNames\":[]},{\"personId\":4401,\"personName\":\"Ulrike Famira-M\u00fchlberger\",\"organisationNames\":[]},{\"personId\":3724,\"personName\":\"Matthias Firgo\",\"organisationNames\":[]}]","clients":[10738,26410],"subclients":[],"partners":[],"topics":[41531],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v26.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Economic Impact of Long-term Care Services - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Economic Impact of Long-term Care Services\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T00:38:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/\",\"url\":\"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/\",\"name\":\"The Economic Impact of Long-term Care Services - WIFO\",\"isPartOf\":{\"@id\":\"https:\/\/www.wifo.ac.at\/en\/#website\"},\"datePublished\":\"2023-12-02T06:38:32+00:00\",\"dateModified\":\"2024-06-20T00:38:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Startseite\",\"item\":\"https:\/\/www.wifo.ac.at\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Economic Impact of Long-term Care Services\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.wifo.ac.at\/en\/#website\",\"url\":\"https:\/\/www.wifo.ac.at\/en\/\",\"name\":\"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.wifo.ac.at\/en\/#organization\"},\"alternateName\":\"WIFO\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.wifo.ac.at\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.wifo.ac.at\/en\/#organization\",\"name\":\"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung\",\"alternateName\":\"WIFO\",\"url\":\"https:\/\/www.wifo.ac.at\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wifo.ac.at\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO_kurz_rechts-2-1920x412.jpg\",\"contentUrl\":\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO_kurz_rechts-2-1920x412.jpg\",\"width\":2000,\"height\":429,\"caption\":\"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung\"},\"image\":{\"@id\":\"https:\/\/www.wifo.ac.at\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/WIFOat\/\",\"https:\/\/x.com\/WIFOat\",\"https:\/\/linkedin.com\/company\/wifoat\/\",\"https:\/\/www.youtube.com\/@WIFO_at\"],\"description\":\"Das WIFO, 1927 von Friedrich August von Hayek und Ludwig von Mises zur Konjunkturanalyse gegr\u00fcndet, ist heute das f\u00fchrende Institut f\u00fcr angewandte empirische Wirtschaftsforschung in \u00d6sterreich mit starkem Engagement auf europ\u00e4ischer Ebene.\",\"email\":\"office@wifo.ac.at\",\"telephone\":\"+43 1 798 26 01 \u2013 0\",\"legalName\":\"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung\",\"foundingDate\":\"1927-01-02\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"51\",\"maxValue\":\"200\"},\"publishingPrinciples\":\"https:\/\/www.wifo.ac.at\/institut\/mission-und-strategie\/\",\"ownershipFundingInfo\":\"https:\/\/www.wifo.ac.at\/institut\/organisation\/\",\"actionableFeedbackPolicy\":\"https:\/\/www.wifo.ac.at\/aktuelles\/presse\/\",\"correctionsPolicy\":\"https:\/\/www.wifo.ac.at\/institut\/kontakt\/\",\"ethicsPolicy\":\"https:\/\/www.wifo.ac.at\/institut\/evidenzbasierung-transparenz-und-unabhaengigkeit\/\",\"diversityPolicy\":\"https:\/\/www.wifo.ac.at\/institut\/gleichstellung\/\",\"diversityStaffingReport\":\"https:\/\/www.wifo.ac.at\/institut\/gleichstellung\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Economic Impact of Long-term Care Services - WIFO","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/","og_locale":"en_US","og_type":"article","og_title":"The Economic Impact of Long-term Care Services","og_url":"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/","og_site_name":"WIFO","article_publisher":"https:\/\/www.facebook.com\/WIFOat\/","article_modified_time":"2024-06-20T00:38:49+00:00","og_image":[{"width":1920,"height":1280,"url":"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_site":"@WIFOat","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/","url":"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/","name":"The Economic Impact of Long-term Care Services - WIFO","isPartOf":{"@id":"https:\/\/www.wifo.ac.at\/en\/#website"},"datePublished":"2023-12-02T06:38:32+00:00","dateModified":"2024-06-20T00:38:49+00:00","breadcrumb":{"@id":"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.wifo.ac.at\/en\/publication\/70367\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.wifo.ac.at\/en\/publication\/70367\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Startseite","item":"https:\/\/www.wifo.ac.at\/en\/"},{"@type":"ListItem","position":2,"name":"The Economic Impact of Long-term Care Services"}]},{"@type":"WebSite","@id":"https:\/\/www.wifo.ac.at\/en\/#website","url":"https:\/\/www.wifo.ac.at\/en\/","name":"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung","description":"","publisher":{"@id":"https:\/\/www.wifo.ac.at\/en\/#organization"},"alternateName":"WIFO","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.wifo.ac.at\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.wifo.ac.at\/en\/#organization","name":"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung","alternateName":"WIFO","url":"https:\/\/www.wifo.ac.at\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wifo.ac.at\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO_kurz_rechts-2-1920x412.jpg","contentUrl":"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO_kurz_rechts-2-1920x412.jpg","width":2000,"height":429,"caption":"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung"},"image":{"@id":"https:\/\/www.wifo.ac.at\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/WIFOat\/","https:\/\/x.com\/WIFOat","https:\/\/linkedin.com\/company\/wifoat\/","https:\/\/www.youtube.com\/@WIFO_at"],"description":"Das WIFO, 1927 von Friedrich August von Hayek und Ludwig von Mises zur Konjunkturanalyse gegr\u00fcndet, ist heute das f\u00fchrende Institut f\u00fcr angewandte empirische Wirtschaftsforschung in \u00d6sterreich mit starkem Engagement auf europ\u00e4ischer Ebene.","email":"office@wifo.ac.at","telephone":"+43 1 798 26 01 \u2013 0","legalName":"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung","foundingDate":"1927-01-02","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"51","maxValue":"200"},"publishingPrinciples":"https:\/\/www.wifo.ac.at\/institut\/mission-und-strategie\/","ownershipFundingInfo":"https:\/\/www.wifo.ac.at\/institut\/organisation\/","actionableFeedbackPolicy":"https:\/\/www.wifo.ac.at\/aktuelles\/presse\/","correctionsPolicy":"https:\/\/www.wifo.ac.at\/institut\/kontakt\/","ethicsPolicy":"https:\/\/www.wifo.ac.at\/institut\/evidenzbasierung-transparenz-und-unabhaengigkeit\/","diversityPolicy":"https:\/\/www.wifo.ac.at\/institut\/gleichstellung\/","diversityStaffingReport":"https:\/\/www.wifo.ac.at\/institut\/gleichstellung\/"}]}},"_links":{"self":[{"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/publication\/70367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/publication"}],"about":[{"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/types\/publication"}],"version-history":[{"count":0,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/publication\/70367\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/topic\/41531"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/client\/26410"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/client\/10738"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/person\/3724"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/person\/4401"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/person\/3879"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/research_group\/3510"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/research_group\/3481"},{"embeddable":true,"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/publication_type\/83083"}],"wp:attachment":[{"href":"https:\/\/www.wifo.ac.at\/en\/wp-json\/wp\/v2\/media?parent=70367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}