Ginn William
Labcorp, Sr. Economist Data Scientist, Artificial Intelligence, Burlington, USA.
Eur J Health Econ. 2024 Dec 19. doi: 10.1007/s10198-024-01750-7.
This study investigates the elasticity of healthcare expenditures (HCE) with respect to income growth using a balanced panel of 177 economies from 2001 to 2020. Applying a panel local projections (LP) model, we examine both global and heterogeneous effects across income groups, as defined by the World Bank income classification. The model is further extended to estimate the relationship between income and HCE during changing economic conditions. Accordingly, we find that the elasticity weakens during non-expansionary periods, while high-income countries exhibit a minimal contemporaneous response. In contrast, low-income countries exhibit a heightened contemporaneous response to income fluctuations during non-expansionary phases, revealing a hidden vulnerability to economic growth.
本研究利用2001年至2020年177个经济体的平衡面板数据，考察了医疗保健支出（HCE）相对于收入增长的弹性。应用面板局部投影（LP）模型，我们研究了世界银行收入分类所定义的不同收入群体的总体效应和异质性效应。该模型进一步扩展，以估计经济状况变化期间收入与医疗保健支出之间的关系。据此，我们发现，在非扩张性时期弹性减弱，而高收入国家的同期反应最小。相比之下，低收入国家在非扩张阶段对收入波动的同期反应增强，揭示了其对经济增长的潜在脆弱性。
