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Health Insurance, Liquidity and Growth

Author

Listed:
  • Benoit Carmichael
  • Yazid Dissou

Abstract

Within the context of an endogenous growth model, it is shown that in the presence of health risks which influence household income, the introduction of a private insurance company increases the long‐term economic growth rate. The introduction of such an institution has two effects on savings: a level effect and a composition effect. Although the presence of this risk‐reducing institution induces a decrease in the level of total savings, as suggested in earlier papers, the rate of illiquid savings, which contribute to growth, increases. JEL Classification E1; G2; O1; O4

Suggested Citation

  • Benoit Carmichael & Yazid Dissou, 2000. "Health Insurance, Liquidity and Growth," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(2), pages 269-284, June.
    • Handle: RePEc:bla:scandj:v:102:y:2000:i:2:p:269-284
    DOI: 10.1111/1467-9442.00199
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    More about this item

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • G2 - Financial Economics - - Financial Institutions and Services
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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