The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis

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 nonlinearity of both series are found to vary considerably across states, w...

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Autores: Caporale, G.M. (Guglielmo M.)|||/items/9eec80b9-3717-46f0-a5da-1d38cae16ad1, Cuñado, J. (Juncal)|||/items/2fe461d2-334e-4422-be6b-a8bd73f61e54, Gil-Alana, L.A. (Luis A.)|||/items/a283ece6-b578-452c-9362-8d1a6255b23c, Gupta, R. (Rangan)|||/items/60144084-0346-45bf-8fbc-00ebc8d338a6
Formato: artículo
Fecha de publicación:2018
País:España
Recursos:Universidad de Navarra
Repositorio:Dadun. Depósito Académico Digital de la Universidad de Navarra
Idioma:inglés
OAI Identifier:oai:dadun.unav.edu:10171/65732
Acesso em linha:https://hdl.handle.net/10171/65732
Access Level:acceso abierto
Palavra-chave:Healthcare expenditure
Income elasticity
US states
Fractional integration
Fractional cointegration
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spelling The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysisCaporale, G.M. (Guglielmo M.)|||/items/9eec80b9-3717-46f0-a5da-1d38cae16ad1Cuñado, J. (Juncal)|||/items/2fe461d2-334e-4422-be6b-a8bd73f61e54Gil-Alana, L.A. (Luis A.)|||/items/a283ece6-b578-452c-9362-8d1a6255b23cGupta, R. (Rangan)|||/items/60144084-0346-45bf-8fbc-00ebc8d338a6Healthcare expenditureIncome elasticityUS statesFractional integrationFractional cointegrationThis 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 nonlinearity of both series are found to vary considerably across states, while 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.SpringerDadun. Depósito Académico Digital Universidad de Navarra20232023-03-2020182018-01-0120182018-01-01journal articlehttp://purl.org/coar/resource_type/c_6501info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/10171/65732reponame:Dadun. Depósito Académico Digital de la Universidad de Navarrainstname:Universidad de NavarraInglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccessoai:dadun.unav.edu:10171/657322026-06-21T12:47:57Z
dc.title.none.fl_str_mv The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
title The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
spellingShingle The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
Caporale, G.M. (Guglielmo M.)|||/items/9eec80b9-3717-46f0-a5da-1d38cae16ad1
Healthcare expenditure
Income elasticity
US states
Fractional integration
Fractional cointegration
title_short The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
title_full The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
title_fullStr The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
title_full_unstemmed The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
title_sort The relationship between healthcare expenditure and disposable personal income in the US states: a fractional integration and cointegration analysis
dc.creator.none.fl_str_mv Caporale, G.M. (Guglielmo M.)|||/items/9eec80b9-3717-46f0-a5da-1d38cae16ad1
Cuñado, J. (Juncal)|||/items/2fe461d2-334e-4422-be6b-a8bd73f61e54
Gil-Alana, L.A. (Luis A.)|||/items/a283ece6-b578-452c-9362-8d1a6255b23c
Gupta, R. (Rangan)|||/items/60144084-0346-45bf-8fbc-00ebc8d338a6
author Caporale, G.M. (Guglielmo M.)|||/items/9eec80b9-3717-46f0-a5da-1d38cae16ad1
author_facet Caporale, G.M. (Guglielmo M.)|||/items/9eec80b9-3717-46f0-a5da-1d38cae16ad1
Cuñado, J. (Juncal)|||/items/2fe461d2-334e-4422-be6b-a8bd73f61e54
Gil-Alana, L.A. (Luis A.)|||/items/a283ece6-b578-452c-9362-8d1a6255b23c
Gupta, R. (Rangan)|||/items/60144084-0346-45bf-8fbc-00ebc8d338a6
author_role author
author2 Cuñado, J. (Juncal)|||/items/2fe461d2-334e-4422-be6b-a8bd73f61e54
Gil-Alana, L.A. (Luis A.)|||/items/a283ece6-b578-452c-9362-8d1a6255b23c
Gupta, R. (Rangan)|||/items/60144084-0346-45bf-8fbc-00ebc8d338a6
author2_role author
author
author
dc.contributor.none.fl_str_mv Dadun. Depósito Académico Digital Universidad de Navarra
dc.subject.none.fl_str_mv Healthcare expenditure
Income elasticity
US states
Fractional integration
Fractional cointegration
topic Healthcare expenditure
Income elasticity
US states
Fractional integration
Fractional cointegration
description 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 nonlinearity of both series are found to vary considerably across states, while 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.
publishDate 2018
dc.date.none.fl_str_mv 2018
2018-01-01
2018
2018-01-01
2023
2023-03-20
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/10171/65732
url https://hdl.handle.net/10171/65732
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Springer
publisher.none.fl_str_mv Springer
dc.source.none.fl_str_mv reponame:Dadun. Depósito Académico Digital de la Universidad de Navarra
instname:Universidad de Navarra
instname_str Universidad de Navarra
reponame_str Dadun. Depósito Académico Digital de la Universidad de Navarra
collection Dadun. Depósito Académico Digital de la Universidad de Navarra
repository.name.fl_str_mv
repository.mail.fl_str_mv
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