On the Dynamics of Demand for Leisure and the Production of Health
AbstractThe 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 InfoArticle provided by American Statistical Association in its journal Journal of Business and Economic Statistics.
Volume (Year): 16 (1998)
Issue (Month): 2 (April)
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- 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.
- Owen O'Donnell & Eddy Van Doorslaer & Tom Van Ourti, 2013. "Health and Inequality," Tinbergen Institute Discussion Papers 13-170/V, Tinbergen Institute.
- Ana Llena-Nozal & Maarten Lindeboom & France Portrait, 2005.
"The effect of work on mental health: Does occupation Matter?,"
Labor and Demography
- Ana Llena-Nozal & Maarten Lindeboom & France Portrait, 2004. "The effect of work on mental health: does occupation matter?," Health Economics, John Wiley & Sons, Ltd., vol. 13(10), pages 1045-1062.
- 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.
- 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).
- 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.
- 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.
- Zhao, Zhong, 2005. "Health Determinants in Urban China," IZA Discussion Papers 1835, Institute for the Study of Labor (IZA).
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