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On the Dynamics of Demand for Leisure and the Production of Health

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  • Sickles, Robin C
  • Yazbeck, Abdo

Abstract

The paper develops and estimates a structural model of household health production that jointly determines the demand for leisure and the demand for consumption for elderly males. The authors use a stochastic dynamic programming framework based on the assumption that an individual maximizes lifetime utility subject to budget and time constraints and a health production function by choosing hours of leisure and levels of consumption of health related and health neutral goods and services. Moreover, they use a very comprehensive health index which combines four scales measuring a variety of dimensions in the quality of life. The Euler equations derived from the authors' model are estimated using data from six biennial panels of the Retirement History Survey (RHS).

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Bibliographic Info

Article provided by American Statistical Association in its journal Journal of Business and Economic Statistics.

Volume (Year): 16 (1998)
Issue (Month): 2 (April)
Pages: 187-97

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Handle: RePEc:bes:jnlbes:v:16:y:1998:i:2:p:187-97

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Cited by:
  1. Maarten Lindeboom & Marcel Kerkhofs, 2004. "Subjective Health Measures, Reporting Errors and Endogeneity in the Relationship Between Health and Work," CEIS Research Paper 46, Tor Vergata University, CEIS.
  2. Hui He & Kevin x.d. Huang, 2013. "Why Do Americans Spend So Much More on Health Care than Europeans?--A General Equilibrium Macroeconomic Analysis," Vanderbilt University Department of Economics Working Papers 13-00005, Vanderbilt University Department of Economics.
  3. Ana Llena-Nozal & Maarten Lindeboom & France Portrait, 2005. "The effect of work on mental health: Does occupation Matter?," Labor and Demography 0501011, EconWPA.
  4. Sheng-Ti Hung & Kevin X.D. Huang & Hui He, 2013. "Substituting Leisure for Health Expenditure: A General Equilibrium-Based Empirical Investigation," 2013 Meeting Papers 1310, Society for Economic Dynamics.
  5. Kevin X. D. Huang & Hui He, 2013. "Why Do Americans Spend So Much More on Health Care than Europeans?," Vanderbilt University Department of Economics Working Papers 13-00021, Vanderbilt University Department of Economics.
  6. Maarten Lindeboom & Marcel Kerkhofs, 2009. "Health and work of the elderly: subjective health measures, reporting errors and endogeneity in the relationship between health and work," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(6), pages 1024-1046.
  7. Zhao, Zhong, 2005. "Health Determinants in Urban China," IZA Discussion Papers 1835, Institute for the Study of Labor (IZA).
  8. Zhao, Zhong, 2005. "Analysis of Health and Longevity in Oldest-Old Population: A Health Capital Approach," IZA Discussion Papers 1877, Institute for the Study of Labor (IZA).
  9. Owen O'Donnell & Eddy Van Doorslaer & Tom Van Ourti, 2013. "Health and Inequality," Tinbergen Institute Discussion Papers 13-170/V, Tinbergen Institute.
  10. Anura Amarasinghe & Gerard D'Souza & Cheryl Brown & Hyungna Oh, 2006. "The Influence of Socioeconomic and Environmental Factors on Health and Obesity in Rural Appalachia," Working Papers 200612, Regional Research Institute, West Virginia University.
  11. Viaene, Jean-Marie & Zilcha, Itzhak, 2002. "Public education under capital mobility," Journal of Economic Dynamics and Control, Elsevier, vol. 26(12), pages 2005-2036, October.
  12. Charles Hokayem & James P. Ziliak, 2014. "Health, Human Capital, and Life Cycle Labor Supply," American Economic Review, American Economic Association, vol. 104(5), pages 127-31, May.

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