Modeling and Forecasting of US Health Expenditures Using ARIMA Models

Paraskevi Klazoglou and Nikolaos Dritsakis ()
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Paraskevi Klazoglou: University of Macedonia, Economics and Social Sciences
Nikolaos Dritsakis: University of Macedonia, Economics and Social Sciences

Chapter Chapter 36 in Advances in Panel Data Analysis in Applied Economic Research, 2018, pp 457-472 from Springer

Abstract: Abstract This paper presents the practical steps to be analyzed in order to use autoregressive integrated moving average (ARIMA) time series models to forecast the total health expenditures, as a percentage of GDP, for the USA. The aim of this study is to identify the appropriate type of model based on the Box–Jenkins methodology. In particular, we apply the static one-step ahead forecasting method to the annual data over the period 1970–2015. The results from this study show that ARIMA (0,1,1) model is the appropriate model to forecast the US health expenditures in this period.

Keywords: ARIMA model; Health expenditure; Box-Jenkins; Forecasting (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-70055-7_36

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DOI: 10.1007/978-3-319-70055-7_36

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