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Title:Medical expenditure growth and the diffusion of medical technology PDF Logo
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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