Medical Progress, Demand for Health Care, and Economic Performance
Ivan Frankovic () and
Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association
We study medical progress within an economy of overlapping generations subject to endogenous mortality. We characterize the individual optimum and the general equilibrium of the economy and study the impact of improvements in the effectiveness of health care. We find that general equilibrium effects dampen strongly the increase in health care usage following medical innovation and that an increase in savings offsets the negative impact on GDP per capita of a decline in the support ratio..
JEL-codes: D91 I11 I12 I18 J11 J17 O31 O41 (search for similar items in EconPapers)
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Working Paper: Medical progress, demand for health care, and economic performance (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168249
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