Substituting Leisure for Health Expenditure: A General Equilibrium-Based Empirical Investigation
Kevin Huang () and
Hui He ()
Additional contact information
Sheng-Ti Hung: Univ. of Hawaii at Manoa
No 1310, 2013 Meeting Papers from Society for Economic Dynamics
We develop a general equilibrium macroeconomic model with endogenous health accumulation, and use the model's equilibrium condition to estimate the elasticity of substitution between medical care and leisure time in maintaining health based on a cross-country panel dataset. Our econometric estimates imply that increasing health-enhancing leisure time can substantially reduce national health expenditure, and thus may also help resolve the pressing fiscal uncertainty. Our study highlights the importance of several current national initiatives, such as "Let's Move!", from not only health but macroeconomic perspectives. Our study also provides a guidance to a growing literature on macro-health in modeling health production.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed
Downloads: (external link)
Working Paper: Substituting Leisure for Health Expenditure: A General Equilibrium-Based Empirical Investigation (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:red:sed013:1310
Access Statistics for this paper
More papers in 2013 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christian Zimmermann ().