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Title:An Analysis of Health Sector Trends: Incorporating Theories of Unbalanced Growth
Author(s):Maciosek, Michael V.
Doctoral Committee Chair(s):Richard Arnould
Department / Program:Economics
Degree Granting Institution:University of Illinois at Urbana-Champaign
Subject(s):Health Sciences, Health Care Management
Abstract:International studies of health care expenditures find income elasticities of aggregate demand for health care in the range of 1.0 to 1.5. Applying these same models to a U.S. time series using ordinary least squares to estimate a cointegrating relationship yields estimates in this range. Application of more recent time-series methods yields income elasticities of less than one, providing evidence that health care is not a luxury good in aggregate. While we lack the data and the econometric techniques to provide precise estimates, it appears that at most 45 percent of the growth of health care expenditures is preventable without welfare loss through changes in the insurance system and productivity of health services. This portion is likely to be significantly lower in practical terms.
Issue Date:1997
Description:201 p.
Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1997.
Other Identifier(s):(MiAaPQ)AAI9737185
Date Available in IDEALS:2015-09-25
Date Deposited:1997

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