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Medical Expenditure Puzzle

  • Xiaoshu Han
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    What does your medical expenditure do to your health? Researchers often get significant negative sign on the relative coefficient in the reduced form health production regression. The puzzling result motivates this simple dynamic quantitative general equilibrium model to study the relationships between health status, medical expenditure and employment. The structural parameters are estimated by an indirect inference procedure. This paper finds that the simulated coefficient of medical expenditure in the health equation is negative even though in the health evolution equation of the structural model, medical expenditure only impacts the health in the positive way

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    File URL: http://repec.org/sed2006/up.1769.1139605945.pdf
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    Paper provided by Society for Economic Dynamics in its series 2006 Meeting Papers with number 284.

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    Date of creation: 03 Dec 2006
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    Handle: RePEc:red:sed006:284
    Contact details of provider: Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
    Fax: 1-314-444-8731
    Web page: http://www.EconomicDynamics.org/society.htm
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    1. Jerome Adda & Russell W. Cooper, 2003. "Dynamic Economics: Quantitative Methods and Applications," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012014, June.
    2. Michael Grossman, 1972. "The Demand for Health: A Theoretical and Empirical Investigation," NBER Books, National Bureau of Economic Research, Inc, number gros72-1, August.
    3. Atila Abdulkadiroglu & Burhanettin Kuruscu & Aysegul Sahin, 2002. "Unemployment Insurance and the Role of Self-Insurance," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(3), pages 681-703, July.
    4. Currie, Janet & Madrian, Brigitte C., 1999. "Health, health insurance and the labor market," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 50, pages 3309-3416 Elsevier.
    5. Li Gan & Guan Gong, 2004. "Mortality Risk and Educational Attainment of Black and White Men," NBER Working Papers 10381, National Bureau of Economic Research, Inc.
    6. Michael Grossman, 1999. "The Human Capital Model of the Demand for Health," NBER Working Papers 7078, National Bureau of Economic Research, Inc.
    7. Michael Grossman & Theodore J. Joyce, 1991. "Unobservables, Pregnancy Resolutions, and Birthweight Production Functions in New York City," NBER Working Papers 2746, National Bureau of Economic Research, Inc.
    8. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
    9. Lixin Cai & Guyonne Kalb, 2006. "Health status and labour force participation: evidence from Australia," Health Economics, John Wiley & Sons, Ltd., vol. 15(3), pages 241-261.
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