An economic evaluation of the market for physicians' services: shortage versus surplus.
The paper examines the existence of a shortage or surplus in the market for physicians' services over time. The assessment is carried out within a framework provided by economic theory, and three basic indicators are utilized: earnings, rates of return to education, and quantity of work. The third indicator is examined in various forms including vacancies, weeks of work, and hours of work. The outcomes of this assessment do not support the existence of a surplus of physicians; rather, they are consistent with a shortage which appears to be growing.
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School of Public and Environmental Affairs, Indiana University at South Bend 46634.
D003625:Data Collection; D004465:Economic Competition; D004470:Economics, Medical / Q000706:statistics & numerical data*; D004651:Employment / Q000191:economics / Q000639:trends; D005069:Evaluation Studies as Topic; D006301:Health Services Needs and Demand / Q000191:economics*; D007182:Income / Q000706:statistics & numerical data / Q000639:trends; D007250:Inflation, Economic / Q000706:statistics & numerical data; D017059:Models, Econometric; D010820:Physicians / Q000191:economics* / Q000706:statistics & numerical data / Q000600:supply & distribution; D014481:United States