Aggregate health care expenditure in the United States: evidence from cointegration tests: a comment

Alan King and Paul Hansen

Applied Economics Letters, 1996, vol. 3, issue 1, 37-39

Abstract: Murthy and Ukpolo (1994) recently estimated a model of aggregate health care expenditure for the United States using cointegration techniques. Their choice of dependent variable, however, introduced the possibility of simultaneity bias in the error-correction model they presented. Their results were also affected by errors in their database. In an effort to confirm or invalidate their findings, a slightly modified version of their model was estimated using a corrected database. The results obtained suggested that Murthy and Ukpolo's basic approach to modelling the market for health care may have been under-specified or alternatively should have incorporated separate demand and supply equations.

Date: 1996
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DOI: 10.1080/758525513

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