Health, endogenous time preference, and inequality : a political economy perspective
Data(s) |
2009
|
---|---|
Resumo |
We study an overlapping-generations model in which agents' mortality risks, and consequently impatience, are endogenously determined by private and public investment in health care. Revenues allocated for public health care arc determined by a voting process. We find that the degree of substitutability between public and private health expenditures matters for macroeconomic outcomes of the model. Higher substitutability implies a “crowding-out" effect, which in turn impacts adversely on morality risks and impatience leading to lower public expenditures on health care in the political equilibrium. Consequently, higher substitutability is associated with greater polarization in wealth, and long-run distributions that are bimodal. |
Formato |
application/pdf |
Identificador | |
Publicador |
Australian National University |
Relação |
http://eprints.qut.edu.au/32421/1/c32421.pdf http://esam09.anu.edu.au/ Lahiri, Radhika & Richardson, Elizabeth (2009) Health, endogenous time preference, and inequality : a political economy perspective. In Proceedings of Econometric Society Australasian Meeting in 2009, Australian National University, Australian National University, Canberra, ACT, pp. 1-38. |
Direitos |
Copyright 2009 [please consult the authors] |
Fonte |
QUT Business School; School of Economics & Finance |
Palavras-Chave | #140218 Urban and Regional Economics #140212 Macroeconomics (incl. Monetary and Fiscal Theory) #140214 Public Economics- Publically Provided Goods #Inequality and health #Endogenous time preference #Political economy #Income distribution #Polarization |
Tipo |
Conference Paper |