Goods–Time Elasticity of Substitution in Health Production
Juan Du () and
Takeshi Yagihashi ()
Health Economics, 2017, vol. 26, issue 11, 1474-1478
We examine how inputs for health production, in particular, medical care and health‐enhancing time, are combined to improve health. The estimated elasticity of substitution from a constant elasticity of substitution production function is significantly less than one for the working‐age population, rejecting the unit elasticity of substitution used in previous studies. Copyright © 2016 John Wiley & Sons, Ltd.
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Persistent link: https://EconPapers.repec.org/RePEc:wly:hlthec:v:26:y:2017:i:11:p:1474-1478
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