The aim of the paper is to present new evidence on the relationship between income and health expenditure allowing for (i) substitution and complementary relationships between private and public health expenditure, (ii) presence of structural breaks in the dependent variables, and (iii) presence...

In this paper we analyse the importance of precautionary saving in Italy. In contrast to previous studies, we focus on two contemporaneous sources of uncertainty, income and health expenditures, to explain the presence of precautionary saving. The major changes occurred in public health care...