Lebenserwartung, medizinischer Fortschritt und Gesundheitsausgaben: Theorie und Empirie
AbstractOver the past 50 years Germans have spent a rising share of their income on health and enjoyed substantially longer lives as a result. The rising health share can be explained by a standard economic model: As people get richer they purchase additional years of life and less additional consumption, provided that satiation occurs more rapidly in non-health consumption. The gains in life years increasingly occur late in the lifespan. As a result the incremental cost-benefit ratio of health care deteriorates: marginal costs increase as the marginal productivity of medical inputs decreases in old age while marginal benefits decrease due to a rising hazard rate. On average, medical progress is worth it. Future income growth will further increase the health share, while population ageing will only marginally affect health care expenditures. Copyright Verein für Socialpolitik und Blackwell Publishers Ltd, 2006
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Volume (Year): 7 (2006)
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