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http://hdl.handle.net/10419/20768
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| Titel: | Health Care Expenditures in OECD Countries : A Panel Unit Root and Cointegration Analysis |
| Autoren: | Dreger, Christian Reimers, Hans-Eggert |
| Datum: | 2005 |
| Verleger: | |
| Reihe/Nr.: | IZA Discussion paper series 1469 |
| Zusammenfassung: | This paper investigates the link between health care expenditures and GDP for a sample of
21 OECD countries using recent developed panel cointegration techniques. In contrast to
previous studies, the analysis accounts for the fact that health care expenditures are not only
determined by income. The other driving force is medical progress, which is proxied by
different variables, like life expectancy, infant mortality and the share of the elderly. In the
extended models, a cointegration relationship can be established among the variables. The
income elasticity is not different from unity, implying that health care expenditures are not a
luxury good. This finding is robust for alternative measures of medical progress. The
evidence is unchanged, if alternative estimators of the cointegration vector are used.
Controlling for cross section dependency does not affect the principal results, as
cointegration can be found even in a model among nonstationary common factors. |
| Erscheint in der Sammlung: | IZA Discussion Papers
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