Health spending slowed down in spite of the crisis

Marco DiMaggio, Andrew Haughwout, Amir Kermani, Matthew Mazewski and Maxim Pinkovskiy
Authors registered in the RePEc Author Service: Marco Di Maggio

No 781, Staff Reports from Federal Reserve Bank of New York

Abstract: We exploit plausibly exogenous regulatory changes in the mortgage lending market to estimate causal effects of the financial boom and bust on personal income in the health sector. We find that counties that were exogenously more exposed to the crisis because of the regulatory reforms experienced a greater rise in the size of the health sector over the course of the boom and the bust relative to control counties, with the differential persisting through the recovery. We provide suggestive evidence that increased mortality during the bust and greater capital investment during the boom contributed to this persistence of health spending.

Keywords: health spending; Great Recession; anti-predatory lending (search for similar items in EconPapers)
JEL-codes: E3 G28 I11 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2016-06-01
New Economics Papers: this item is included in nep-hea and nep-mac
Note: Revised October 2019.
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