비 정상적 패널분석을 이용한 의료비 지출과 소득관계에 대한 연구
The Nonstationay Panel Analysis on the Relationship between Health Expenditure and Income
조상섭(한국전자통신연구원); 김병운(과학기술연합대학원대학교)
16권 1호, 249~258쪽
초록
This paper adopts some recent non-stationary panel procedures to test the stochastic relationship between health expenditure and income level for 20 OECD economies. The panel OLS, Fully Modified and Dynamic OLS panel procedures support stochastic long run relationship existence. Empirical results for the estimated coeffcient of income elasticity are 1.61, 0.962, and 0.967 respectively. This study shows that relying on traditional panel OLS estimator may induce the estimated cofficent of previous studies to upward bias. Our study results, therefore, implies whether the relevant income elasticity is over unity or not from our empirical testing.
Abstract
This paper adopts some recent non-stationary panel procedures to test the stochastic relationship between health expenditure and income level for 20 OECD economies. The panel OLS, Fully Modified and Dynamic OLS panel procedures support stochastic long run relationship existence. Empirical results for the estimated coeffcient of income elasticity are 1.61, 0.962, and 0.967 respectively. This study shows that relying on traditional panel OLS estimator may induce the estimated cofficent of previous studies to upward bias. Our study results, therefore, implies whether the relevant income elasticity is over unity or not from our empirical testing.
- 발행기관:
- 한국산업경제학회
- 분류:
- 경제학