growth. We identify the moral-hazard effect in healthcare investments when annuity rates are conditioned on average mortality …

This study examines whether health care is affected by Baumol’s cost disease in a scenario of no growth. Baumol's model … working hours. In both scenarios the cost disease does not affects the health care. However, in the second scenario an … relative cost of health care will increase over the years. Therefore, although the cost disease does not affect the health …