Why does Health Share of Income Increase over Time?
This paper deals with the view that income elasticity of health care is larger than one, as argued by empirical results on the literature. We build a theoretical model that shows that endogenous demographic transition may play a fundamental role on this result. It is argued that families must choose the number and the life expectancy of their members. Due to limited resources, there is a trade-o. between those two variables though. It is shown that increases on income may produce a demographic transition that allows a larger allocation of resources to health care.
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- Imrohoruglu, Ayse, 1989. "Cost of Business Cycles with Indivisibilities and Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1364-1383, December.
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"Human Capital, Fertility, and Economic Growth,"
NBER Working Papers
3414, National Bureau of Economic Research, Inc.
- Gary S. Becker & Kevin M. Murphy & Robert Tamura, 1994. "Human Capital, Fertility, and Economic Growth," NBER Chapters, in: Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Edition), pages 323-350 National Bureau of Economic Research, Inc.
- Becker, Gary S & Murphy, Kevin M & Tamura, Robert, 1990. "Human Capital, Fertility, and Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 12-37, October.
- Gary S. Becker & Kevin M. Murphy & Robert Tamura, "undated". "Human Capital, Fertility, and Economic Growth," University of Chicago - Population Research Center 90-5a, Chicago - Population Research Center.
- Gerdtham, Ulf-G. & Jonsson, Bengt, 1991. "Conversion factor instability in international comparisons of health care expenditure," Journal of Health Economics, Elsevier, vol. 10(2), pages 227-234, July.
- Blomqvist, A. G. & Carter, R. A. L., 1997.
"Is health care really a luxury?,"
Journal of Health Economics,
Elsevier, vol. 16(2), pages 207-229, April.
- S. Rao Aiyagari, 1994.
"Uninsured Idiosyncratic Risk and Aggregate Saving,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 109(3), pages 659-684.
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