This paper presents a dynamic general equilibrium model designed to examine the macroeconomic effects and welfare implications of alternative reforms to the US health insurance system. Specifically, it scrutinizes the extent to which health care reform can mitigate inefficiencies stemming from...

Since at least the early 1990s, economists have found substantial evidence of "job lock" in the United States: workers who get health insurance from their employer are less likely to switch jobs. Early work showed stronger job lock among groups that place a higher value on health insurance,...

"On January 1, 2006, the federal government began providing insurance coverage for Medicare recipients' prescription drug expenditures through a new program known as Medicare Part D. Rather than setting pharmaceutical prices itself, the government contracted with private insurance plans to...