The effect of medical care on health capital

Download

911-6205-1-PB.pdf

Date

2018-8

Author

Koç, Şevket Alper
Koç, Çağatay

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

212
views

105
downloads

This paper analyzes the effect of medical care on the stock of health capital by estimating the health investment production function. An ordered probit model for the stock of health with instrumental variables is estimated using the Two-Stage Residual Inclusion method. We argue that risk tolerance and the opportunity cost of time are suitable instruments for the change in medical care consumption. In contrast to majority of the empirical work, which does not uncover that medical care has a positive effect on the stock of health, the results suggest that physician visits significantly increases the probability of excellent health (or decreases the probability of poor health), in accordance with Grossman’s (1972a) demand for health capital model.

Subject Keywords

Medical care, Probit model, Risk tolerance, Opportunity cost of time

URI

http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/911
https://hdl.handle.net/11511/58134

Journal

ODTÜ Gelişme Dergisi

Collections

Department of Economics, Article

Suggestions

OpenMETU
Core

Impact of personality traits and risk attitude on individual response: an experimental evidence Dinç, Özge; Özdemir Yılmaz, Özlem; Başbuğ Erkan, Berna Burçak; Department of Business Administration (2012) The present study aims to contribute to insurance sector by investigating the risk reduction mechanisms: self-insurance, self-protection, and market insurance. First, individual valuations/demands for these mechanisms in fire and earthquake events are analyzed through conducting an experiment to 78 students from Middle East Technical University In addition, the effects of risk attitude, personality traits, and demographic variables (that are measured through using a questionnaire) on valuations to these pre...
The impact of structural adjustment reforms on public sector expenditures: Evidence from developing countries Ghafoor, Abdul; Weiss, John; Jalilian, Hossein (2000-1-01) The paper attempts to analyze the impact of structural adjustment policy reforms on aggregated and disaggregated public expenditure. The study investigates the extent to which structural adjustment reforms were able to reshape public expenditure in developing countries as expected. A comparative analysis has been made of aggregated and disaggregated public expenditure before and after implementing structural adjustment reforms. The model is tested using panel data of sixteen developing countries for the per...
A Comprehensive model for measuring health care process quality: health care process quality measurement model (HPQMM) Yıldız, Özkan; Demirörs, Onur; Department of Medical Informatics (2012) Similar to the manufacturing sector, process improvement gains much attention in health care sector. Measuring process quality is one of the most important components of process improvement and numerous healthcare quality indicator models are developed to achieve this aim. Existing quality models focus on some specific diseases, clinics or clinical areas. Although they contain structure, process, or output type measures, there is no model which measures the quality of health care processes comprehensively. ...
The Impact of Macro-Economic Drivers in Housing Markets: The US Cas Yılmaz, Bilgi; Yerlikaya Özkurt, Fatma; Kestel, Sevtap Ayşe (2021-08-01) This paper analyzes the effect of macro-economic, financial and commodity market indicators on housing markets. We compare the efficiency of the models generated by Generalized Linear Models (GLM) and Multivariate Adaptive Regression Splines (MARS) according to method free measures for estimating the housing market trend. These models are used for the first time to identify the influence of macro-economic indicators on housing markets and the estimation of the trend in housing markets to our best knowledge....
The Nature of financial innovations : a post-Schumpeterian analysis Bulgurluoğlu, Pelin; Akdere, Çınla; Department of Economics (2013) This thesis analyzes the nature of financial innovations by taking a post-Schumpeterian approach. The aim of this thesis is to show that Schumpeter’s analysis of entrepreneurial innovation, which takes place in the real economy, proposes also a theoretical framework for understanding the dynamics of financial innovations. Therefore, it suggests that Schumpeterian notion of innovation can be used as a guide in analyzing the dynamics of financial innovations today. In this respect, through the analysis of fin...

Citation Formats

Ş. A. Koç and Ç. Koç, “The effect of medical care on health capital,” ODTÜ Gelişme Dergisi, vol. 45, no. 2, pp. 209–238, 2018, Accessed: 00, 2020. [Online]. Available: http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/911.