The Growth of Health Expenditures: Ageing vs. Technological Progress
The Growth of Health Expenditures: Ageing vs. Technological Progress
This chapter analyses the links between health care expenditures, technology, and health status from a micro-level perspective. A conventional explanation for the rising share of health spending in GDP, by increasing coverage also boosted aggregate health spending. Another explanation is related to a cost disease story. Health, like other care services, uses labour intensively and hence may display low productivity growth. An alternative, and somewhat opposite explanation, is that the bulk of the expenditure increase is attributable to technological change. This explanation, which has received increasing attention in the literature is the focus of this chapter.
Keywords: ageing, life expectancy, health expenditure, public policy
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