Elasticity estimates from a dynamic model of interrelated demands for private and public acute health care.
This paper investigates the private/public mix in acute health care provision in the UK. It uses an interrelated shares model derived from a translog function combined with dynamic adjustment. Using prices for public care constructed from NHS waiting lists, the insurance cost of private care and the retain price index, impact, intermediate and long run elasticities of demand for private and public care are obtained. The role of hospital consultants and of an aging population are also considered.
Department of Economics, University of Aberdeen, UK.
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McAvinchey
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Yannopoulos
D000208:Acute Disease / Q000191:economics; D003253:Consultants / Q000706:statistics & numerical data; D003625:Data Collection; D005249:Fees and Charges / Q000706:statistics & numerical data; D005544:Forecasting; D017048:Health Care Costs / Q000706:statistics & numerical data; D006301:Health Services Needs and Demand / Q000191:economics / Q000706:statistics & numerical data* / Q000639:trends; D007350:Insurance, Hospitalization / Q000191:economics / Q000706:statistics & numerical data*; D017059:Models, Econometric; D017149:Private Sector / Q000191:economics; D017150:Public Sector / Q000191:economics; D013222:State Medicine / Q000191:economics / Q000706:statistics & numerical data*; D006113:United Kingdom; D014850:Waiting Lists