We examine how inputs for health production, in particular, medical care and health-enhancing time, are combined to improve health. The estimated elasticity of substitution from a constant elasticity of substitution production function is significantly less than one for the working-age population, rejecting the unit elasticity of substitution used in previous studies.
Original Publication Citation
Du, J., & Yagihashi, T. (2016). Goods–time elasticity of substitution in health production. Health Economics, 1-5. doi:10.1002/hec.3446
Du, Juan and Yagihashi, Takeshi, "Goods-Time Elasticity of Substitution in Health Production" (2016). Economics Faculty Publications. 20.