NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Fran├žois Langot

Le Mans University
Paris School of Economics
Avenue Olivier Messiaen
72085 Le Mans cedex 9
France

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
Institutional Affiliation: University of Maine

NBER Working Papers and Publications

March 2020Understanding Cross-country Differences in Health Status and Expenditures
with Raquel Fonseca, Pierre-Carl Michaud, Thepthida Sopraseuth: w26876
Using a general equilibrium heterogeneous agent model featuring health production, we quantify the relative contribution of price distortions in the health market, TFP and other health risks in explaining cross-country differences in health expenditure (as a share of GDP) and health status. Estimated parameters reveal a substantial price wedge that explains at most 20% of the difference in health spending (as a share of GDP) and 30% of the difference in health status between Europe and the U.S. We estimate a one percentage point negative impact on the life-time cost-of-living of Americans from higher prices due to inefficiencies.
 
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