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Understanding Cross-country Differences in Health Status and Expenditures

Raquel Fonseca (), Francois Langot (), Pierre-Carl Michaud () and Thepthida Sopraseuth ()

No 26876, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Using a general equilibrium heterogeneous agent model featuring health production, we quantify the relative contribution of price distortions in the health market, TFP and other health risks in explaining cross-country differences in health expenditure (as a share of GDP) and health status. Estimated parameters reveal a substantial price wedge that explains at most 20% of the difference in health spending (as a share of GDP) and 30% of the difference in health status between Europe and the U.S. We estimate a one percentage point negative impact on the life-time cost-of-living of Americans from higher prices due to inefficiencies.

JEL-codes: E21 H51 I10 (search for similar items in EconPapers)
Date: 2020-03
New Economics Papers: this item is included in nep-dge, nep-hea and nep-mac
Note: AG
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