U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES. Centers for Disease Susan Baker Toal, MPH, Public Principles of E. The Oxford Handbook of Health Economics by Sherry Glied, , available at Book Depository with free delivery worldwide. Health Economics Information Resources: A Self-Study Course. Search NLM Web Site Schulenburg J.M. The health economics handbook. 2nd ed. Chester. .. Oxford Textbook of Public Health. 3rd ed. Detels .. Full text in PDF format.
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The Oxford Handbook of Health Economics provides a guide to health economics. The articles stress the direct impact of health economics reasoning on policy. This books (The Oxford Handbook of Health Economics (Oxford Handbooks) [ PDF]) Made by About Books The Oxford Handbook of Health. The Oxford Handbook of Health Economics provides an accessible and authoritative guide to health economics, intended for scholars and students in the field.
Introduction ; 2. Health Systems in Industrialized Countries ; 3. The Political Economy of Health Care ; 5. Health Production ; 7. Socioeconomic Status and Health: Dimensions and Mechanisms ; 8. Determinants of Health in Childhood ; 9. Economics of Infectious Diseases ;
It will come as little surprise that these critical points will be reiterated below; however, the MGM will be done justice by first reviewing its theoretical modifications and empirical applications.
One refinement has been the introduction of uncertainty. Chang [ 4 ] had already recognized that portfolio optimization methods could be applied to health as one of several assets, with risk aversion entering the picture. As risk-averse individuals typically download insurance, Liljas [ 13 ] extended MGM to take into account health insurance. As could be expected, the main implications of MGM remained unchanged, in particular, the prediction of a positive relationship between the permanent, desired stock of health and the derived demand for health care.
An important generalization has been provided by researchers from Lund Sweden , who by now can be considered the true MGM believers in Europe. A shortcoming of previous formulations is that the individual had been considered in isolation, whereas decision making with regard to health [and the third asset in question, wisdom education , one might note] often occurs within the family.
Jacobson [ 10 ] introduced the corresponding combined production possibility frontier, whereas Bolin et al. In his empirical test of MGM, Wagstaff [ 17 ] noted that health status was negatively correlated with the demand for medical care.
This constitutes a fundamental contradiction to the basic MGM hypothesis, which states that health care is a derived demand with regard to the desired stock of health.
However, health stock as usually measured may not reflect the permanent, desired stock of health as defined in the MGM. Arguably, the most comprehensive attempt to distil this latent health status from a cross section of observable indicators was undertaken by Leu and Doppmann [ 12 ] cited in ZB, Chap. However, the authors did not pursue their project any further, causing them to be little cited. Wagstaff [ 18 ] sought to shore up the MGM by introducing partial adjustment as it is known from macroeconomic investment functions: investments of a given period bridge only part of the gap between desired and actual capital stock, with the speed of adjustment constituting a decision variable in principle.
However, the real issue is that this speed depends crucially on health status; when the gap between desired and actual health status is wide, failure to cover it quickly entails high opportunity cost just think of being rushed to the nearest hospital with sirens on.
However, consider the two findings below for the older part of the sample which hold true with minimal changes for the younger as well , 1.
Logically, this implies 3. Therefore, introducing lags and partial investment fails to remedy the crucial shortcoming of MGM, i. It is amazing that neither the reviewers nor the editors of Health Economics recognized this. Or was there collusion between the journal and the author, serving their shared interest in keeping the MGM bandwagon rolling?
Honni soit qui mal y pense… This author pleads guilty of joining the MGM bandwagon, too thank heaven in a little-cited piece [ 16 ]! In sample I, Tobit estimates indicate that health care expenditure HCE if at all decreases with subjective health coeff.
Three educational indicators vocational, college, university , while having the predicted negative sign in four out of six cases reflecting increased individual productivity permitting less reliance on medical care consistently fall far short of statistical significance. A long planning horizon of fixed length: Dynamic optimization makes sense only if it extends over several periods. Long planning horizons undoubtedly apply when it comes to assessing wealth and wisdom skills, augmented by education.
In the case of health, the MGM view is close to untenable. In last year's BE Guide, I described Behavioral Economics BE as the study of cognitive, social, and emotional influences on people's observable economic behavior. Typically, these games endow participants with rewards e. Firstly, to provide graduate students with an introduction to the use of experimental methods in economics and in social sciences. Scholars and social media experts convened at Harvard Law School Feb.
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