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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- Kevin x.d. Huang & Hui He & Sheng-ti Hung, 2013.
"Substituting Leisure for Health Expenditure: A General Equilibrium-Based Empirical Investigation,"
Vanderbilt University Department of Economics Working Papers
13-00020, Vanderbilt University Department of Economics.
- 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.
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Labor and Demography
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- 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.
- Owen O'Donnell & Eddy Van Doorslaer & Tom Van Ourti, 2013. "Health and Inequality," Tinbergen Institute Discussion Papers 13-170/V, Tinbergen Institute.
- Zhao, Zhong, 2005. "Health Determinants in Urban China," IZA Discussion Papers 1835, Institute for the Study of Labor (IZA).
- 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.
- 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.
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