文献详情
HEALTH INVESTMENT OVER THE LIFE-CYCLE
文献类型：期刊
通讯作者：He, H (reprint author), Int Monetary Fund, Inst Capac Dev, 700 19th St NW, Washington, DC 20431 USA.
期刊名称：MACROECONOMIC DYNAMICS
年：2019
卷：23
期：1
页码：178-215
ISSN：1365-1005
关键词：Quantitative Macroeconomics; Life Cycle; Medical Expenditure; Social Security
摘要：We quantify what drives the rise in medical expenditures over the life-cycle using a stochastic dynamic overlapping generations model of health investment. Three motives for health investment are considered. First, health delivers a flow of utility each period (the consumption motive). Second, better health enables people to allocate more time to productive or pleasurable activities (the investment motive). Third, better health improves survival prospects (the survival motive). We find that, ove ...More
We quantify what drives the rise in medical expenditures over the life-cycle using a stochastic dynamic overlapping generations model of health investment. Three motives for health investment are considered. First, health delivers a flow of utility each period (the consumption motive). Second, better health enables people to allocate more time to productive or pleasurable activities (the investment motive). Third, better health improves survival prospects (the survival motive). We find that, overall, the consumption motive plays a dominant role, whereas the investment motive is more important than the consumption and survival motives until the forties. The survival motive is quantitatively less important when compared to the other two motives. We also conduct a series of counter-factual policy experiments to investigate how government policies impacting health insurance coverage, Social Security, and health care technological progress affect the behavior of medical expenditures, and social welfare. ...Hide

DOI：10.1017/S1365100516001152
百度学术：HEALTH INVESTMENT OVER THE LIFE-CYCLE
语言：外文
基金：College of Social Sciences at the University of Hawai'i at Manoa; Shanghai Pujiang ProgramShanghai Pujiang Program [2013140026]; Program for Professor of Special Appointment (Eastern Scholar) at Shanghai Institutions of Higher Learning [2013140034]; Fundamental Research Funds for the Central Universities (SUFE) [2017110133]; China Postdoctoral Science FoundationChina Postdoctoral Science Foundation [2017M611515]
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