Fonseca, Raquel; Michaud, Pierre-Carl; Kapteyn, Arie; … - Centre Interuniversitaire sur le Risque, les Politiques … - 2013
We estimate a stochastic life-cycle model of endogenous health spending, asset accumulation and retirement to … investigate the causes behind the increase in health spending and longevity in the U.S. over the period 1965-2005. We estimate … in health spending (technology 30% and insurance 6%), while income explains only 4% and other health trends 0.5%. By …