Health progress and economic growth in the USA: the continuous wavelet analysis

Wen-Yi Chen ()
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Wen-Yi Chen: National Taichung University of Science and Technology

Empirical Economics, 2016, vol. 50, issue 3, No 6, 855 pages

Abstract: Abstract This study employs the continuous wavelet analysis to investigate the dynamic relationship between health progress and economic growth over the period of 1934–2010 in the USA. Our findings reconcile the counter-cyclicality of longevity in the short run with the pro-cyclicality of longevity in the long run with respect to the business cycle. Additionally, four causal relationships between health progress and economic growth: the income view, health view, feedback view, and neutrality hypotheses are identified. Our results show that the income view, health view, and feedback hypotheses could only be validated for some specific time periods and conditions. None of these four hypotheses regarding causality of health progress and economic growth prevail over the entire period of 1934–2010 in the USA.

Keywords: Brenner hypothesis; Health progress; Economic growth; Business cycle; Continuous wavelet analysis (search for similar items in EconPapers)
JEL-codes: C4 E3 I1 J1 N3 O1 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (15)

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DOI: 10.1007/s00181-015-0955-6

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