Mortality rates in the US fell more rapidly during the late 19th and early 20th Centuries than any other period in American history. This decline coincided with an epidemiological transition and the disappearance of a mortality “penalty” associated with...
This paper examines the structure of the American medical care system, especially the system of care for the elderly. We focus on three sets of interactions: coverage rules (how people get health insurance and who pays for it); the reimbursement system...
As populations age and medical spending rises, there is no doubt that the medical system will account for an increasing part of economic activity. But how much more, and which countries will be most affected? Those are the questions I address in this...
We seek to explain the creation of national Old-Age Insurance (OAI) and Health Insurance schemes, and their subsequent growth. We estimate a hazard model of the ‘risk’ of a country’s creating social insurance. Many theories about the adoption of social...
This paper examines the apparent failure of private markets to adequately insure long-term risks. I argue that the key to long-term insurance is the importance of intertemporal risk. Long-term risks are difficult to insure because much of the risk...
The health reform bills passed by the U.S. House of Representatives and under consideration in the Senate introduce a range of payment and delivery system changes designed to achieve a significant slowing of health care cost growth. Most assessments of...
