Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Health production (2)
- Bayesian (1)
- DSGE models (1)
- Data augmentation (1)
- Elasticity of substitution (1)
-
- Health capital (1)
- Health care inflation (1)
- Health care utilization (1)
- Health insurance (1)
- Hospital inpatient care (1)
- Informal care (1)
- Labor supply (1)
- Leisure (1)
- Leisure time (1)
- Medical spending (1)
- Monetary policy (1)
- Nursing home (1)
- Time allocation (1)
- Treatment effect (1)
- Unemployment (1)
Articles 1 - 5 of 5
Full-Text Articles in Social and Behavioral Sciences
Health Capital Investment And Time Spent On Health Related Activities, Juan Du, Takeshi Yagihashi
Health Capital Investment And Time Spent On Health Related Activities, Juan Du, Takeshi Yagihashi
Economics Faculty Publications
One key component in the health capital investment model in (Grossman, M. Journal of Political Economy, 80: 223–255, 1972) is time spent on improving health. However, few empirical studies have examined how time spent on health investment is determined. In this paper, we fill this void in the literature by investigating how people allocate their time for different types of health-related activities in response to economic variables. Using the American Time Use Survey, we distinguish health-enhancing and health-deteriorating leisure activities, with the rationale that these activities may respond differently to socioeconomic environment. We find that health-enhancing and health-deteriorating time respond …
Goods-Time Elasticity Of Substitution In Health Production, Juan Du, Takeshi Yagihashi
Goods-Time Elasticity Of Substitution In Health Production, Juan Du, Takeshi Yagihashi
Economics Faculty Publications
We examine how inputs for health production, in particular, medical care and health-enhancing time, are combined to improve health. The estimated elasticity of substitution from a constant elasticity of substitution production function is significantly less than one for the working-age population, rejecting the unit elasticity of substitution used in previous studies.
Health Care Use, Out-Of-Pocket Expenditure, And Macroeconomic Conditions During The Great Recession, Juan Du, Takeshi Yagihashi
Health Care Use, Out-Of-Pocket Expenditure, And Macroeconomic Conditions During The Great Recession, Juan Du, Takeshi Yagihashi
Economics Faculty Publications
We study how macroeconomic conditions during the Great Recession affected health care utilization and out-of-pocket expenditures of American households. We use two data sources: the Consumer Expenditure (CE) Survey and the Survey of Income and Program Participation (SIPP); each has its own advantages. The CE contains quarterly frequency variables, and the SIPP provides panel data at the individual level. Consistent evidence across the two datasets shows that utilization of routine medical care was counter-cyclical, whereas hospital care was pro-cyclical during the Great Recession. When we examine the pre-recession period, the relationship between macroeconomic conditions and health care use was either …
Health Care Inflation And It's Implications For Monetary Policy, Takeshi Yagihashi, Juan Du
Health Care Inflation And It's Implications For Monetary Policy, Takeshi Yagihashi, Juan Du
Economics Faculty Publications
Motivated by recent findings on the cyclical movement of both health and health spending, we construct a general equilibrium model that distinguishes health care demand from the demand for other goods. Using this model, we are able to generate inflation dynamics and cyclicality of health that match the US data. When the model is subjected to an expansionary monetary policy shock, it yields different output and inflation responses compared with a two-sector model with homogeneous demand. We show that the trade-off between leisure and health spending plays an important role in model dynamics. The model further predicts different degrees of …
Formal And Informal Care: An Empirical Bayesian Analysis Using The Two-Part Model, Juan Du
Formal And Informal Care: An Empirical Bayesian Analysis Using The Two-Part Model, Juan Du
Economics Faculty Publications
Informal care provided to the elderly by their children is proposed as a less expensive alternative to institutional long-term care. This paper explores how the elderly's consumption of medical care changes in response to changes in the informal care they receive from their children. Many earlier studies have ignored both the endogeneity of informal care and the complicated nature of health care utilization data. This paper develops a two-part model with informal care treated as an endogenous regressor and imposes exclusion restrictions on the selection process. The model is fitted using the Bayesian Markov Chain Monte Carlo (MCMC) methods, in …