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On the Dynamics of Demand for Leisure and the Production of Health

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  • Sickles, Robin C
  • Yazbeck, Abdo

Abstract

The 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).

Suggested Citation

  • Sickles, Robin C & Yazbeck, Abdo, 1998. "On the Dynamics of Demand for Leisure and the Production of Health," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(2), pages 187-197, April.
  • Handle: RePEc:bes:jnlbes:v:16:y:1998:i:2:p:187-97
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    Citations

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    Cited by:

    1. 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.
    2. Maarten Lindeboom, 2012. "Health and Work of Older Workers," Chapters,in: The Elgar Companion to Health Economics, Second Edition, chapter 3 Edward Elgar Publishing.
    3. Lindeboom, Maarten & Llena-Nozal, Ana & van der Klaauw, Bas, 2016. "Health shocks, disability and work," Labour Economics, Elsevier, vol. 43(C), pages 186-200.
    4. 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.
    5. Charles Hokayem & James P. Ziliak, 2014. "Health, Human Capital, and Life Cycle Labor Supply," American Economic Review, American Economic Association, vol. 104(5), pages 127-131, May.
    6. Chang, Wen-ya & Tsai, Hsueh-fang & Chu, Mei-Lie & Chang, Juin-jen, 2015. "On the employment, investment and current account effects of inflation: A revisit," Journal of Macroeconomics, Elsevier, vol. 46(C), pages 278-294.
    7. 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.
    8. Anura Amarasinghe & Gerard D'Souza & Cheryl Brown & Hyungna Oh, 2006. "The Influence of Socioeconomic and Environmental Factors on Health and Obesity in Rural Appalachia," Working Papers Working Paper 2006-12, Regional Research Institute, West Virginia University.
    9. 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.
    10. Pelgrin, Florian & St-Amour, Pascal, 2016. "Life cycle responses to health insurance status," Journal of Health Economics, Elsevier, vol. 49(C), pages 76-96.
    11. 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.
    12. repec:rri:wpaper:200612 is not listed on IDEAS
    13. 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).
    14. repec:kap:reveho:v:15:y:2017:i:4:d:10.1007_s11150-017-9378-9 is not listed on IDEAS
    15. Limor Hatsor, 2014. "Allocation of Resources in Educational Production: The Budget Puzzle," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 16(6), pages 854-883, December.
    16. Owen O'Donnell & Eddy Van Doorslaer & Tom Van Ourti, 2013. "Health and Inequality," Tinbergen Institute Discussion Papers 13-170/V, Tinbergen Institute.
    17. Zhao, Zhong, 2005. "Health Determinants in Urban China," IZA Discussion Papers 1835, Institute for the Study of Labor (IZA).
    18. 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.

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