Gerdtham, Ulf-G. () (Centre for Health Economics) Löthgren, Mickael () (Dept. of Economic Statistics, Stockholm School of Economics)
Abstract
In this paper we test for existence of cointegration between health expenditure and GDP using data from 19 OECD countries for the period 1960-1995. Country-by-country and panel results based on the Johansen multivariate likelihood-based inference and a new panel test for cointegration rank are presented. The empirical modelling is based on a bivariate vector error correction model that allows for trending data as well as an intercept and a trend in the cointegrating relation. Given this model, the main result indicates that a cointegrating relation exists between health expenditure and GDP.
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Length: 13 pages Date of creation: 21 Sep 1998 Date of revision: Publication status: Published in Applied Economics, 2002, pages 1679-1686. Handle: RePEc:hhs:hastef:0258
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Find related papers by JEL classification: C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Hypothesis Testing C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data I10 - Health, Education, and Welfare - - Health - - - General
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