Corpus ID: 55792392

Estimating the drivers and projecting long-term public health expenditure in the European Union: Baumol's "cost disease" revisited

@inproceedings{Medeiros2013EstimatingTD,
  title={Estimating the drivers and projecting long-term public health expenditure in the European Union: Baumol's "cost disease" revisited},
  author={Jo{\~a}o Medeiros and C. Schwierz},
  year={2013}
}
This study assesses the relative importance of demographic versus non demographic drivers of health expenditure (HE), and makes long term projections for the HE to GDP ratio. This paper breaks down public HE in its drivers for European Union countries. Baumol's "unbalanced growth model" suggests that low productivity growth sectors, such as health services, when facing an inelastic demand curve result in a rising expenditure to GDP ratio. Although national income and relative prices of health… Expand
Robust determinants of health care expenditure growth
Our aim is to disclose robust explanatory variables for health care expenditure (HCE) growth by introducing to this field of research a method that is especially well suited for situations of ‘modelExpand
Future trends in health care expenditure: A modelling framework for cross-country forecasts
Across the OECD, healthcare spending has typically outpaced economic growth in recent decades. While such spending has improved health outcomes, there are concerns about the financial sustainabilityExpand
What Determines the Health Care Expenditure of High Income Countries? A Dynamic Estimation
Constraining the rise in costs continues to be a major focus of health care policy in high income countries. It is important for governments to understand what is driving the rise in health careExpand
Health expenditure, longevity, and child mortality: dynamic panel data approach with global data
TLDR
Effects of public and private health expenditures on life expectancy at birth and infant mortality are analysed on a global scale with 195 countries in the years 1995–2014 to show that public health expenditures are generally more health-promoting than private expenditures. Expand
Modeling Health Spending Financial Sustainability
  • Eduardo Costa
  • 2021
In most OECD countries, health spending has been increasing over the last decades, often surpassing GDP growth. Current challenges faced by health systems - including the COVID-19 pandemic - poseExpand
Life expectancy effects of public and private health expenditures in OECD countries 1970–2012: Panel time series approach
Abstract Relationships between life expectancy at birth, public and private health expenditures are analysed with econometric panel time series methods for 34 OECD countries between the years 1970Expand
Healthcare expenditure and fiscal sustainability: evidence from Switzerland
Growing healthcare expenditure is of major concern for the sustainability of public finances. In order to better explore the fiscal sustainability challenge and to inform the debate, we draw up a newExpand
Cost Disease of Health Care and no Growth
This study examines whether health care is affected by Baumol’s cost disease in a scenario of no growth. Baumol's model implies that stagnant sectors are driven by wage increases in excess ofExpand
Health sector employment growth calls for improvements in labor productivity.
TLDR
It is argued that labor productivity of a growing health work force needs more attention and more research is needed to identify effective policy measures of labor productivity enhancement including enhanced efforts to develop comparable productivity indicators in these areas. Expand
Estimation of Drivers of Public Education Expenditure : Baumol's Effect Revisited
This paper analyzes drivers of rising per-pupil public education spending, including Baumol’s “cost disease” effect. Higher wages paid to teachers contributed significantly to the increase inExpand
...
1
2
3
...

References

SHOWING 1-10 OF 66 REFERENCES
What drives health care expenditure?--Baumol's model of 'unbalanced growth' revisited.
TLDR
This paper revisits Baumol's model of 'unbalanced growth', showing that the latter offers a ready explanation for the observed inexorable rise in health care expenditure and tested empirically using data from a panel of 19 OECD countries. Expand
A Projection Method for Public Health and Long-Term Care Expenditures
This paper proposes a new set of public health and long-term care expenditure projections until 2060, seven years after a first set of projections was published by the OECD. It disentangles healthExpand
Drivers of Health Care Expenditure: Does Baumol's Cost Disease Loom Large?
According to Baumol (1993) health care epitomises Baumol's cost disease. Sectors that suffer from Baumol's cost disease are characterised by slow productivity growth due to a high labour coefficient.Expand
International comparisons of health expenditure: Theory, data and econometric analysis
Comparisons of aggregate health expenditure across different countries have become popular over the last three decades as they permit a systematic investigation of the impact of differentExpand
The Drivers of Public Expenditure on Health and Long-Term Care: An Integrated Approach
Public expenditures on health and long-term care (hereafter, LTC) are a matter of concern for governments in most OECD countries. These expenditures have recently accelerated and are putting pressureExpand
Can Baumol's Model of Unbalanced Growth Contribute to Explaining the Secular Rise in Health Care Expenditure? An Alternative Test
In a recent paper, I argued that Baumol's model of 'unbalanced growth' offers a ready explanation for the observed secular rise in Health Care Expenditure (HCE) in rich countries. Baumol's modelExpand
Baumol's Diseases: A Macroeconomic Perspective
William Baumol and his co-authors have analyzed the impact of differential productivity growth on the health of different sectors and on the overall economy. They argued that technologically stagnantExpand
Technology as a 'major driver' of health care costs: a cointegration analysis of the Newhouse conjecture.
TLDR
The findings support the Newhouse conjecture that technological change is a major escalator of health care expenditure and confirm a significant and stable long-run relationship among per capita real health care Expenditure, per capitareal income and broad-based R&D expenditures. Expand
Modeling healthcare expenditures: overview of the literature and evidence from a panel time-series model
The rapid growth of healthcare expenditures in the past 40 years in many industrial countries has contributed to an improvement in life expectancy and the quality of life, but has also jeopardizedExpand
The determinants of health care expenditure: testing pooling restrictions in small samples.
TLDR
This paper analyzes the variations of health care expenditure in OECD countries relative to income, population aging and technological change and uses a bootstrap framework for inference to examine whether the influence of explanatory variables is unique across countries. Expand
...
1
2
3
4
5
...