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dc.contributor.authorPolchlopek, Justinen_US
dc.description.abstractThe 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.en_US
dc.publisherUniv. of Utah, Dep. of Economics Salt Lake City, Utahen_US
dc.relation.ispartofseriesWorking Paper, University of Utah, Department of Economics 2011-10en_US
dc.subject.keywordHealth Economicsen_US
dc.subject.keywordHealth Care Productionen_US
dc.subject.keywordNational Health Expendituresen_US
dc.subject.keywordSraffian Economicsen_US
dc.subject.keywordTotal Factor Productivityen_US
dc.subject.keywordInput-Output Economicsen_US
dc.subject.keywordTechnological Diffusion Processesen_US
dc.titleMedical expenditure growth and the diffusion of medical technologyen_US
dc.typeWorking Paperen_US
Appears in Collections:Department of Economics Working Paper Series, University of Utah

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