Private Pension Institutions in China: Public Economic Analysis
DOI:
https://doi.org/10.6981/FEM.202412_5(12).0010Keywords:
Microeconomics; Public Policy; Public Economics; Aging; Elderly Care.Abstract
In recent years, China 's private elderly care industry has developed rapidly, which has aroused widespread concern in academia and society. In this paper, the research team answered the questions of why the private elderly care industry has more potential in China and why public policy formulation is important for the private elderly care industry. They established a sample mathematical model of China 's elderly care system from the perspective of public economics and microeconomics, conduct empirical analysis and find the exact function form. This study is systematic and comprehensive, has some implications for understanding the development of China 's private elderly care.
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[14] In China, ' elderly care industry ' and ' pension industry ' do not have much semantic difference. In this paper, the two are mixed without distinction.
[15] If you have doubts about this, you can observe the mathematical process below. You will find that even if R and C have such a huge gap in the order of magnitude, as long as we do not change its dimension in the overall analysis process, it has little bad influence on the final result. As long as it can achieve the effect of sorting the quality of elderly care services, its mission is completed.
[16] DAYS means the payment cycle of a single care service. In China, nursing homes are generally paid monthly, so we take 30 days here. Although deleting this data has almost no effect on our analysis, we decided to retain it in order to emphasize the time attribute of the number of service requirements D. On the other hand, it is very appropriate to use the number of hours to measure the labor factor of elderly care institutions. In most economics textbooks, factor L is calculated by time.
[17] of course, we can also say that C can be uniquely represented by P, R, and D, but this correlation has no economic significance, so we do not discuss.
[18] Note the distinction between q and q%. One represents the percentile, and one represents the true number.
[19] A public mathematical drawing service website that can be used without payment or authorization.
[20] Our image means that for the lowest part of the price, there may be only a minimum of 1 % of aged care institutions willing to sell their services. For slightly higher prices, there are more businesses willing to provide services. For the highest price, 100 % of merchants are willing to provide services. This is completely consistent with the definition of supply curve in microeconomics textbooks.
[21] This is a more reasonable and realistic inference. We only need to follow the traditional supply and demand analysis, the public elderly care services as a big market for the whole society. In this case, we can estimate the equilibrium point of supply and demand, so as to estimate the maximum supply and demand of the whole society.
[22] This image means that we superimpose the demand curve of all possible consumers in the whole society, depicting the price each of them is willing to pay and summing up. This is consistent with the traditional definition of the demand curve.
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