Wu, Po-Chin; Liu, Shiao-Yen; Pan, Sheng-Chieh - In: Social Indicators Research 118 (2014) 2, pp. 893-910
This paper employs the panel smooth transition regression (PSTR) model to investigate the role of Okun’s misery index in the persistence of health spending in 19 OECD countries from 1980 to 2010. The empirical result shows that the health spending in the sample countries displays a nonlinear...