@techreport{Baltagi2010Health,
abstract = {This paper reconsiders the long-run economic relationship between health care expenditure and income using a panel of 20 OECD countries observed over the period 1971-2004. In particular, the paper studies the non-stationarity and cointegration properties between health care spending and income. This is done in a panel data context controlling for both cross-section dependence and unobserved heterogeneity. Cross-section dependence is modelled through a common factor model and through spatial dependence. Heterogeneity is handled through fixed effects in a panel homogeneous model and through a panel heterogeneous model. Our findings suggest that health care is a necessity rather than a luxury, with an elasticity much smaller than that estimated in previous studies.},
address = {Bonn},
author = {Badi H. Baltagi and Francesco Moscone},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C31; C33; H51; 330; Health expenditure; income elasticity; cross section dependence; heterogeneous panels; factor models; Gesundheitsvorsorge; Gesundheitskosten; Einkommen; Panel; OECD-Staaten},
language = {eng},
number = {4851},
publisher = {IZA},
title = {Health care expenditure and income in the OECD reconsidered: Evidence from panel data},
type = {Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit},
url = {http://hdl.handle.net/10419/36776},
year = {2010}
}
