Assessing household health expenditure with Box–Cox censoring models

Jean‐Paul Chaze

Health Economics, 2005, vol. 14, issue 9, 893-907

Abstract: In order to assess the combined presence of zero expenditures and a heavily skewed distribution of positive expenditures, the Box–Cox transformation with location parameter is used to define a set of models generalising the standard Tobit, Heckman selection and double‐hurdle models. Extended flexibility with respect to previous specifications is introduced, notably regarding negative transformation parameters, which may prove necessary for medical expenditures, and corner‐solution outcomes. An illustration is provided by the analysis of household health expenditure in Switzerland. Copyright © 2005 John Wiley & Sons, Ltd.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:wly:hlthec:v:14:y:2005:i:9:p:893-907

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