We use a calibrated stochastic life-cycle model of endogenous health spending, asset accumulation and retirement to investigate the causes behind the increase in health spending and life expectancy over the period 1965-2005. We estimate that technological change along with the increase in the...

This paper examines the tradeoffs of monitoring for wasteful public spending. By penalizing unnecessary spending, monitoring improves the quality of public expenditure and incentivizes firms to invest in compliance technology. I study a large Medicare program that monitored for unnecessary...

Once a humble, beloved, charity-based arm of the healthcare industry, hospice is now a multi-billion dollar industry, funded almost exclusively by Medicare, run by for-profit corporations answering to private equity investors and Wall Street, and more and more frequently plagued by fraud and...