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Full-Text Articles in Economics
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.