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http://bura.brunel.ac.uk/handle/2438/14475
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DC Field | Value | Language |
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dc.contributor.author | Caporale, GM | - |
dc.contributor.author | Cunado, J | - |
dc.contributor.author | Gil-Alana, L | - |
dc.contributor.author | Gupta, R | - |
dc.date.accessioned | 2017-04-27T13:36:24Z | - |
dc.date.available | 2017-10-17 | - |
dc.date.available | 2017-04-27T13:36:24Z | - |
dc.date.issued | 2017 | - |
dc.identifier.citation | Empirical Economics, (2017) | en_US |
dc.identifier.issn | 0377-7332 | - |
dc.identifier.uri | http://bura.brunel.ac.uk/handle/2438/14475 | - |
dc.description.abstract | This 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.sponsorship | Luis 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.iso | en | en_US |
dc.publisher | Springer Verlag | en_US |
dc.subject | Healthcare expenditure | en_US |
dc.subject | Income elasticity | en_US |
dc.subject | US states | en_US |
dc.subject | Fractional integration | en_US |
dc.subject | Fractional cointegration | en_US |
dc.title | The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis | en_US |
dc.type | Article | en_US |
dc.relation.isPartOf | Empirical Economics | - |
pubs.publication-status | Accepted | - |
Appears in Collections: | Dept of Economics and Finance Research Papers |
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FullText.pdf | 479.46 kB | Adobe PDF | View/Open |
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