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Aggregate health care expenditure in the United States: evidence from cointegration tests: a comment

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  • Alan King
  • Paul Hansen

Abstract

Murthy and Ukpolo (1994) recently estimated a model of aggregate health care expenditure for the United States using cointegration techniques. Their choice of dependent variable, however, introduced the possibility of simultaneity bias in the error-correction model they presented. Their results were also affected by errors in their database. In an effort to confirm or invalidate their findings, a slightly modified version of their model was estimated using a corrected database. The results obtained suggested that Murthy and Ukpolo's basic approach to modelling the market for health care may have been under-specified or alternatively should have incorporated separate demand and supply equations.

Suggested Citation

  • Alan King & Paul Hansen, 1996. "Aggregate health care expenditure in the United States: evidence from cointegration tests: a comment," Applied Economics Letters, Taylor & Francis Journals, vol. 3(1), pages 37-39.
    • Handle: RePEc:taf:apeclt:v:3:y:1996:i:1:p:37-39
    DOI: 10.1080/758525513
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    References listed on IDEAS

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    1. Perron, Pierre, 1988. "Trends and random walks in macroeconomic time series : Further evidence from a new approach," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 297-332.
    2. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    3. Hitiris, Theo & Posnett, John, 1992. "The determinants and effects of health expenditure in developed countries," Journal of Health Economics, Elsevier, vol. 11(2), pages 173-181, August.
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    Cited by:

    1. Tiffany Hui-Kuang Yu & Hong Yih Chu, 2007. "Is health care really a luxury? A demand and supply approach," Applied Economics, Taylor & Francis Journals, vol. 39(9), pages 1127-1131.
    2. Tsung-Yu Hsieh & Huai-I Lee & Yu-Ju Huang, 2016. "An investigation of the factors affecting medical expenses: The case of Taiwan’s NHI implementation," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 6(6), pages 1-8.

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