The Economic Impact of Health Care Provision: A General Equilibrium Assessment of Some Policy Options in the UK’s NHS
نویسندگان
چکیده
This paper focuses on the macro-economic impacts of changes in health provision via its effects on the labour market. The resource allocation issues have been explored in theory, by further developing the Rybczynski theorem and empirically, using a Computable General Equilibrium model for the UK. From the theory, changes in non-health outputs are shown to depend on socalled factor-bias and scale effects. Using the CGE model with added real-life complexities, a rise in the NHS budget is shown to yield overall welfare gains, which fall by two-third assuming health-specific factors. A nominally equivalent migration policy yields even higher welfare gains. JEL classification: D58, F22, H51, I18, I38, J21
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