Adjusting Measures of Economic Output for Health: Is the Business Cycle Countercyclical?
---- Acknowledgements -----
We thank Ralph S.J. Koijen and William H.J. Hubbard for their valuable input. Tomas Philipson acknowledges financial support from the George Stigler Center for the Study of The Economy and The State, The University of Chicago. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.