| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7278 |
| DP7278 Entrepreneurial Entry: Which Institutions Matter? | |
| Saul Estrin; Tomasz Mickiewicz; Ruta Aidis | |
| 发表日期 | 2009-04-19 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Health expenditures as a share of GDP have more than tripled over the last half century. A common conjecture is that this is primarily a consequence of rising real per capita income, which more than doubled over the same period. We investigate this hypothesis empirically by instrumenting for local area income with time-series variation in global oil prices between 1970 and 1990 interacted with cross-sectional variation in the oil reserves across different areas of the Southern United States. This strategy enables us to capture both the partial equilibrium and the local general equilibrium effects of an increase in income on health expenditures. Our central estimate is an income elasticity of 0.7, with an elasticity of 1.1 as the upper end of the 95 percent confidence interval. Point estimates from alternative specifications fall on both sides of our central estimate, but are almost always less than 1. We also present evidence suggesting that there are unlikely to be substantial national or global general equilibrium effects of rising income on health spending, for example through induced innovation. Our overall reading of the evidence is that rising income is unlikely to be a major driver of the rising health share of GDP. |
| 主题 | International Macroeconomics ; Public Economics |
| 关键词 | Health care Income Technology |
| URL | https://cepr.org/publications/dp7278 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536115 |
| 推荐引用方式 GB/T 7714 | Saul Estrin,Tomasz Mickiewicz,Ruta Aidis. DP7278 Entrepreneurial Entry: Which Institutions Matter?. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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