000			01498nab a2200241 c 4500
999			_c150975 _d150975
003			ES-MaIEF
005			20250714134419.0
007			ta
008			250714t2025 gw ||||| |||| 00| 0 eng d
040			_aES-MaIEF _bspa _cES-MaIEF
100			_952512 _aFetzer, Stefan
245	1	0	_aWindfall Profits in the German Long-term Care System _bInitial Expectation and Variation Over Time _c Stefan Fetzer, Fabian Franke, Christian Hagist
520			_aIn 1995, Germany introduced a Long-Term Care Insurance (LTCI) scheme. The financing has been set up as pay-as-you-go, and therefore created windfall profits. We calculate an index (IWP) that measures the change in the expected initial windfall resulting from updating financial flows between LTCI and its insureds. Our results show that the level of windfall profits fluctuated for generations living in 1996 and decreased during the period 1996 to 2022. While older generations are less severely impacted, the decrease in IWP mainly concerns younger generations. Demography is not the main driver of these developments, but rather policies regarding benefit levels.
650		4	_948380 _aSEGUROS DE SALUD
650		4	_932314 _aBENEFICIOS
650		4	_948302 _aRIESGO
650		4	_963760 _aCUIDADOS DE LARGA DURACIÓN
650		4	_925193 _aALEMANIA
700	1		_aFranke, Fabian _972767
700			_951484 _aHagist, Christian
773	0		_9173722 _oOP 207/2025/1 _tFinanzArchiv _w(IEF)21244 _x 0015-2218 _g v. 81, n. 1, March 2025, p. 59-84
942			_cART