Macroeconomic Dynamics of Health: Lags and Variability in Mortality, Employment and Spending

ENCYCLOPEDIA OF HEALTH ECONOMICS, A. Culyer, ed., Elsevier, Forthcoming

27 Pages Posted: 14 Oct 2011

See all articles by Thomas E. Getzen

Thomas E. Getzen

Temple University - Dept of Risk, Insurance & Health Management

Date Written: May 30, 2011

Abstract

ABSTRACT/SYNOPSIS. Medicine is technologically dynamic but fiscally inertial. Major change in the health sector takes time. Responses to macroeconomic shocks are subject to lags of varying lengths, from several years to many decades. There may also be feedback and reverse causality, as when better health leads to higher incomes, and vice-versa. These lags and interactions complicate measurement so that the strong linkages between human health and the economy are sometimes obscured and difficult to estimate with precision.

Keywords: Health Expenditures, Business Cycles, Forecasting, demography

JEL Classification: I1, J1, N3

Suggested Citation

Getzen, Thomas E., Macroeconomic Dynamics of Health: Lags and Variability in Mortality, Employment and Spending (May 30, 2011). ENCYCLOPEDIA OF HEALTH ECONOMICS, A. Culyer, ed., Elsevier, Forthcoming. Available at SSRN: https://ssrn.com/abstract=1944236

Thomas E. Getzen (Contact Author)

Temple University - Dept of Risk, Insurance & Health Management ( email )

712 Cornelia Place
Philadelphia, PA 19118
United States
215 688-2233 (Phone)

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