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Department of Economics Working Paper Series, University of Utah >
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http://hdl.handle.net/10419/64448
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| Title: | | Medical expenditure growth and the diffusion of medical technology  |
| Authors: | | Polchlopek, Justin |
| Issue Date: | | 2011 |
| Series/Report no.: | | Working Paper, University of Utah, Department of Economics 2011-10 |
| Abstract: | | The general consensus among health economists is that the increasing capability of medical providers-often called medical technology-is responsible for the majority of growth in medical expenditure. And yet, the principle means of understanding medical technology is through the use of total factor productivity, which, despite giving reasonable estimates of the magnitude of the effects, is not a theory of technology, leaving policymakers without effective tools for prediction. This paper develops a descriptive model of technology that may have interesting implications for health economics. The model suggests that the manner of diffusion of technology is critical, and when technology diffuses haphazardly, the effects on expenditure can be unexpectedly large. |
| Subjects: | | Health Economics Health Care Production National Health Expenditures Sraffian Economics Total Factor Productivity Input-Output Economics Technological Diffusion Processes |
| JEL: | | B51 C67 D24 D57 I11 I12 O33 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Department of Economics Working Paper Series, University of Utah
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