Please use this identifier to cite or link to this item: http://bura.brunel.ac.uk/handle/2438/14475
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dc.contributor.authorCaporale, GM-
dc.contributor.authorCunado, J-
dc.contributor.authorGil-Alana, L-
dc.contributor.authorGupta, R-
dc.date.accessioned2017-04-27T13:36:24Z-
dc.date.available2017-10-17-
dc.date.available2017-04-27T13:36:24Z-
dc.date.issued2017-
dc.identifier.citationEmpirical Economics, (2017)en_US
dc.identifier.issn0377-7332-
dc.identifier.urihttp://bura.brunel.ac.uk/handle/2438/14475-
dc.description.abstractThis study examines the relationship between healthcare expenditure and disposable income in the 50 US states over the period 1966-2009 using fractional integration and cointegration techniques. The degree of integration and non-linearity of both series are found to vary considerably across states, whilst the fractional cointegration analysis suggests that a long-run relationship exists between them in only 11 out of the 50 US states. The estimated long-run income elasticity of healthcare expenditure suggests that health care is a luxury good in these states. By contrast, the short-run elasticity obtained from the regressions in first differences is in the range (0,1) for most US states, which suggests that health care is a necessity good instead. The implications of these results for health policy are also discussed.en_US
dc.description.sponsorshipLuis Gil-Alana gratefully acknowledges financial support from the Ministerio de Economía y Competitividad (ECO2014-55236). Juncal Cuñado gratefully acknowledges financial support from the Ministerio de Economía y Competitividad (ECO2014-55496).en_US
dc.language.isoenen_US
dc.publisherSpringer Verlagen_US
dc.subjectHealthcare expenditureen_US
dc.subjectIncome elasticityen_US
dc.subjectUS statesen_US
dc.subjectFractional integrationen_US
dc.subjectFractional cointegrationen_US
dc.titleThe relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysisen_US
dc.typeArticleen_US
dc.relation.isPartOfEmpirical Economics-
pubs.publication-statusAccepted-
Appears in Collections:Dept of Economics and Finance Research Papers

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