Pharmaceutical expenditure, total health-care expenditure and GDP.

Abstract:

:This paper analyses the evolution of pharmaceutical expenditure with respect to GDP for a group of the most important OECD economies. We find that this relationship is not stable across the sample considered (1960-2003), and heterogeneity is found in the temporal evolution of the variables and across countries. Furthermore, we can see differences in the income elasticity estimation when we disaggregate pharmaceutical expenditure into its private and government components or when the total health-care expenditure (Total HCE) is disaggregated into its pharmaceutical and non-pharmaceutical components. We conclude that the changes in the elasticity of pharmaceutical expenditure and in the Total HCE elasticity are due to the private component and the pharmaceutical expenditure behaviour, respectively.

journal_name

Health Econ

journal_title

Health economics

authors

Clemente J,Marcuello C,Montañés A

doi

10.1002/hec.1317

subject

Has Abstract

pub_date

2008-10-01 00:00:00

pages

1187-206

issue

10

eissn

1057-9230

issn

1099-1050

journal_volume

17

pub_type

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