A note on cointegration of health expenditures and income
利用美国50个州的面板数据，检验卫生支出与州生产总值是否非平稳且存在协整关系，发现两者协整且收入弹性在1990年代变小。
Utilizing a panel data set of 50 US states, this note investigates nonstationarity and cointegration of health care expenditures and gross state products (GSP). Both the individual state-based method and the recent panel data method are applied. Allowing for structural breaks in the test, we find that health care expenditures and GSP are both nonstationary. The evidence also suggests that the two series form a cointegrating relationship. The income elasticities of health spending vary over states and became smaller in the 1990s.