A Panel Data Design For Estimation Of Hospital Cost Functions

Kathleen Carey

The Review of Economics and Statistics, 2000, vol. 79, issue 3, 443-453

Abstract: This paper estimates a multiple-output hospital cost function using a panel data technique that allows for correlation between unobservable individual effects and observable determinants of behavior. Analysis of 1733 facilities for the period of 1987-1991 yields estimates that differ widely from those obtained from a more standard cross-sectional procedure. While the latter method results in negative and stable measures of ray economies of scale, the panel model indicates positive economies of scale that fall slightly over time. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

Date: 2000
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