Colombier, Carsten (2017). Drivers of Health-Care Expenditure: What Role Does Baumol's Cost Disease Play? Soc. Sci. Q., 98 (5). S. 1603 - 1622. HOBOKEN: WILEY. ISSN 1540-6237
Full text not available from this repository.Abstract
ObjectivesWe devise an instrument to test for Baumol's cost disease in healthcare. Baumol's cost disease is a price effect that is assumed to be a major determinant of the secular rise in health-care expenditure (HCE). MethodsThis price effect is notoriously difficult to estimate as the construction of medical price indices is flawed. However, our instrumentthe adjusted Baumol variableavoids this problem as we do not rely on medical price indices. We apply this instrument to a panel data set of 20 OECD countries ranging from 1970 to 2010. ResultsBaumol's cost disease partly affects healthcare. We estimate that the cost disease exerts from 15 to 40 percent of its potential full effect on HCE. ConclusionsPolicymakers have more leeway to curb ever-increasing HCE than is suggested by the literature. Our instrument is also well suited to investigate other possibly affected sectors such as the government or education.
| Item Type: | Journal Article | ||||||||
| Creators: |
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| URN: | urn:nbn:de:hbz:38-211730 | ||||||||
| DOI: | 10.1111/ssqu.12384 | ||||||||
| Journal or Publication Title: | Soc. Sci. Q. | ||||||||
| Volume: | 98 | ||||||||
| Number: | 5 | ||||||||
| Page Range: | S. 1603 - 1622 | ||||||||
| Date: | 2017 | ||||||||
| Publisher: | WILEY | ||||||||
| Place of Publication: | HOBOKEN | ||||||||
| ISSN: | 1540-6237 | ||||||||
| Language: | English | ||||||||
| Faculty: | Unspecified | ||||||||
| Divisions: | Unspecified | ||||||||
| Subjects: | no entry | ||||||||
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| Refereed: | Yes | ||||||||
| URI: | http://kups.ub.uni-koeln.de/id/eprint/21173 |
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