The Box-Cox transformation is suitable for stabilizing variance of the response variable and for inducing functional form flexibility in single-equation regression models. However, it becomes incapacitated if the data contain zero or negative values. This paper, using profitability data for US...

Health care expenditure studies of the Organization for Economic Cooperation and Development (OECD) countries remain important because their findings often suggest cost containment and other policy initiatives. This paper focuses on the compatibility of OECD health data with the “expenditure...

SUMMARY Economic theory suggests that income growth could lead to changes in consumption quantity and quality as the spending on a commodity changes. Similarly, the volume and quality of healthcare consumption could rise with incomes because of demographic changes, usage of innovative medical...