Comparing the performance of two indices for spatial model selection: application to two mortality data

Hsiao, Chuhsing Kate; Tzeng, Jung Ying; Wang, Chih-Hao

doi:10.1002/1097-0258(20000730)19:14<1915::aid-sim503>3.0.co;2-m

Cited by 14 publications

(4 citation statements)

References 33 publications

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“…In our empirical work we will adopt weights based on the inverse of the distance expressed in kilometers across countries. A recent strand of literature in health economics has suggested a number of reasons why one should expect geographical concentration of unobservable risk factors of health care spending (Revelli, 2006 (Alexander, 1993), childhood cancer (Gatrell and Whitelegg, 1993), and asthma (Hsiao, 2000). We remark that most of these works detect very localised forms of concentration of diseases.…”

Section: The Econometric Modelmentioning

confidence: 88%

Health care expenditure and income in the OECD reconsidered: Evidence from panel data

2010

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This paper reconsiders the long-run economic relationship between health care expenditure and income using a panel of 20 OECD countries observed over the period . In particular, the paper studies the non-stationarity and cointegration properties between health care spending and income. This is done in a panel data context controlling for both crosssection dependence and unobserved heterogeneity. Cross-section dependence is modelled through a common factor model and through spatial dependence. Heterogeneity is handled through fixed effects in a panel homogeneous model and through a panel heterogeneous model. Our findings suggest that health care is a necessity rather than a luxury, with an elasticity much smaller than that estimated in previous studies.Key Words: Health expenditure, income elasticity, cross section dependence, heterogeneous panels, factor models. Abstract This paper reconsiders the long-run economic relationship between health care expenditure and income using a panel of 20 OECD countries observed over the period . In particular, the paper studies the non-stationarity and cointegration properties between health care spending and income. This is done in a panel data context controlling for both cross-section dependence and unobserved heterogeneity. Cross-section dependence is modelled through a common factor model and through spatial dependence. Heterogeneity is handled through …xed e¤ects in a panel homogeneous model and through a panel heterogeneous model. Our …ndings suggest that health care is a necessity rather than a luxury, with an elasticity much smaller than that estimated in previous studies.JEL Classi…cation: C31, C33, H51

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Section: The Econometric Modelmentioning

confidence: 88%

Health care expenditure and income in the OECD reconsidered: Evidence from panel data

2010

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“…A recent strand of literature in health economics has suggested a number of reasons why one should expect geographical concentration of unobservable risk factors of health care spending (Revelli, 2006 (Alexander, 1993), childhood cancer (Gatrell and Whitelegg, 1993), and asthma (Hsiao, 2000). We remark that most of these works detect very localised forms of concentration of diseases.…”

Section: The Econometric Modelmentioning

confidence: 88%

Health Care Expenditure and Income in the OECD Reconsidered: Evidence from Panel Data

Baltagi

Moscone

2010

SSRN Journal

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“…Chib (1995) and Lewis and Raftery (1997) suggested to estimate the mode and covariance matrix based on the posterior sample. Hsiao et al (2000) employed the method in hierarchical models for spatial data and termed it the double Laplace-Metropolis method. where 0" and E* can be estimated based on simulated posterior sample as discussed in Subsection 2.2.…”

Section: Laplace-metropolis Methodsmentioning

confidence: 99%

Optimal volume-corrected laplace-metropolis method

2003

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Comparing the performance of two indices for spatial model selection: application to two mortality data

Cited by 14 publications

References 33 publications

Health care expenditure and income in the OECD reconsidered: Evidence from panel data

Health care expenditure and income in the OECD reconsidered: Evidence from panel data

Health Care Expenditure and Income in the OECD Reconsidered: Evidence from Panel Data

Optimal volume-corrected laplace-metropolis method

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