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dc.contributor.authorBaltagi, Badi H.en_US
dc.contributor.authorMoscone, Francescoen_US
dc.date.accessioned2010-03-30en_US
dc.date.accessioned2010-07-23T09:31:49Z-
dc.date.available2010-07-23T09:31:49Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/36776-
dc.description.abstractThis 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.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion paper series // Forschungsinstitut zur Zukunft der Arbeit 4851en_US
dc.subject.jelC31en_US
dc.subject.jelC33en_US
dc.subject.jelH51en_US
dc.subject.ddc330en_US
dc.subject.keywordHealth expenditureen_US
dc.subject.keywordincome elasticityen_US
dc.subject.keywordcross section dependenceen_US
dc.subject.keywordheterogeneous panelsen_US
dc.subject.keywordfactor modelsen_US
dc.subject.stwGesundheitsvorsorgeen_US
dc.subject.stwGesundheitskostenen_US
dc.subject.stwEinkommenen_US
dc.subject.stwPanelen_US
dc.subject.stwOECD-Staatenen_US
dc.titleHealth care expenditure and income in the OECD reconsidered: Evidence from panel dataen_US
dc.typeWorking Paperen_US
dc.identifier.ppn622793519en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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