Is Health Care Expenditure Really a Luxury Good? Re-assessment and New Evidence Based on OECD Data
AbstractThe aim of the paper is to present new evidence on the relationship between income and health expenditure allowing for (i) substitution and complementary relationships between private and public health expenditure, (ii) presence of structural breaks in the dependent variables, and (iii) presence of heterogeneous institutional setting (country-specific health systems). Our results show that income elasticity is quite sensitive to the inclusion of technology variables and to health system heterogeneity, that complementary and substitution relationships play an important role in determining public and private health expenditure and, finally, that public and private health expenditures are both related with a cyclical indicator of economic activity.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 97 (2007)
Issue (Month): 2 (March-April)
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Find related papers by JEL classification:
- C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- I10 - Health, Education, and Welfare - - Health - - - General
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
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- David Prieto & Santiago Lago-Peñas, 2012. "Decomposing the determinants of health care expenditure: the case of Spain," The European Journal of Health Economics, Springer, vol. 13(1), pages 19-27, February.
- Michael Stolpe, 2003. "Ressourcen und Ergebnisse der globalen Gesundheitsökonomie, Einführung und Überblick," Kiel Working Papers 1177, Kiel Institute for the World Economy.
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