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Biases in the healthcare luxury good hypothesis?: a meta-regression analysis

Costa-i-Font, Joan, Gemmill, Marin and Rubert, Gloria (2011) Biases in the healthcare luxury good hypothesis?: a meta-regression analysis. Journal of the Royal Statistical Society, Series A, 174 (1). pp. 95-107. ISSN 0964-1998

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Abstract

Although a growing literature examining the relationship between income and health expenditures suggests that healthcare is a luxury good, this conclusion is debatable owing to heterogeneity of the existing results. The paper tests the luxury good hypothesis (namely that income elasticity exceeds 1) by using meta-regression analysis, taking into consideration publication selection and aggregation bias. The findings suggest that publication bias exists, which is a result that is robust to the meta-regression model employed. Publication selection and aggregation bias also appear to play a role in the generation of estimates. The corrected estimates of income elasticity range from 0.4 to 0.8, which cast serious doubt on the validity of the luxury good hypothesis.

Item Type: Article
Official URL: http://www.rss.org.uk/main.asp?page=3003
Additional Information: © 2010 Royal Statistical Society
Library of Congress subject classification: H Social Sciences > HB Economic Theory
R Medicine > RA Public aspects of medicine
Sets: Departments > Social Policy
Departments > European Institute
Research centres and groups > LSE Health
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 11 Aug 2010 12:37
URL: http://eprints.lse.ac.uk/28989/

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