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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.