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Papers by Alberto Holly
Econometric Theory, 1991
Commencing with this issue ET will publish photographs, both recent and historical, that are of i... more Commencing with this issue ET will publish photographs, both recent and historical, that are of interest to the econometrics community. All readers of £Tare encouraged to support this section of the Journal. Please submit photographs (good quality final prints) that you believe may be of interest to the econometrics community at large. Photographs of econometricians at work and at play will be considered as will group photographs, especially those that are of historical interest. All submissions should be sent to the Editor. Please provide: (i) full details of the subjects in the photographs, and the date (or approximate date) of the photograph; (ii) a suggested caption to accompany the photograph. THE EDITOR:
Very preliminary and incomplete draft Please do not quote without author permission Comments are ... more Very preliminary and incomplete draft Please do not quote without author permission Comments are very welcome
Recent literature in health care economics has shown increasing interest in the use of contingent... more Recent literature in health care economics has shown increasing interest in the use of contingent valuation for measuring willingness to pay (WTP) as the economic value of health benefits. The impact of the provision of different levels and types of information on the results of contingent valuation studies has been examined in empirical work and discussed in the literature. However, the impact of the level of information on WTP may depend upon the delivery mechanism. This has not been assessed yet. We propose to study this effect while assessing patient preferences concerning a new class of drugs in the field of influenza disease. New anti-influenza drugs entered the market quite recently allowing influenza symptom alleviation for 1.5 days. These neuraminidase inhibitor drugs are currently prescription drugs but are not covered by health insurers. These drugs could well be imagined to be available over the counter (OTC) due to their small range of benign side effects and their ease...
The rapid growth of health expenditure has become a great concern for both households and governm... more The rapid growth of health expenditure has become a great concern for both households and governments. There is extensive literature on the determinants of health expenditure in OECD countries, but the same is not true for developing countries. The aim of this study is to understand the trajectory of health expenditure in developing countries. We use panel data from 143 countries over 14 years, from 1995 to 2008 to study this. We apply both standard fixed effects and dynamic models to explore the factors associated with the growth of total health expenditure as well as its main components namely, government health expenditure and out-of-pocket payments. Our data show great variation across countries in health expenditure as a share of GDP, which ranges from less than 5% to 15%. Apart from income many factors contribute to this variation, ranging from demographic factors to health system characteristics. Our results suggest that health expenditure in general does not grow faster than...
The aim of this paper is to model a liberal profession, in this case physicians. We propose a mod... more The aim of this paper is to model a liberal profession, in this case physicians. We propose a model in which the physician acts in the same way as an agent who maximises his utility function subject to his budget constraint, while at the same time being able to affect his rate of remuneration. This model presupposes that physicians attempt to reach two target, namely income and leisure, and that the trade-o€ between these two target depends on their monopolistic power. Unlike existing models, our proposed model advances that some physicians may have a disutility for leisure and may adopt altruistic or strategic behaviours. To determine the relevance of our model, we estimate salaried, firm and agent versions of the model based on a sample of 317 physicians practicing in the Provence-Alpes-Cote d'Azur region (PACA). We observe that physicians do not act like a purely profit-maximising firm. Furthermore, they are able to affect their net remuneration rate through their labour supp...
Dans cet article nous considerons le probleme consistant a tester l'exogeneite d'un sous-... more Dans cet article nous considerons le probleme consistant a tester l'exogeneite d'un sous-ensemble de variables supposees a priori endogenes dans un modele econometrique. Nous montrons d’abord qu'il est possible de presenter de facon generale ce probleme a la fois dans le cadre des variables instrumentales et dans celui du maximum de vraisemblance, le cas des modeles a equations simultanees en etant un cas particulier.Nous proposons une procedure simple permettant d'effectuer ce test sur la base d'une "regression etendue". Nous comparons cette procedure a celles qui ont ete proposees dans la litterature. Nous montrons egalement qu'elle possede les memes proprietes asymptotiques (locales) que celle des tests classiques fondes sur la vraisemblance.
The provision of informal care by adult children is an important form of longterm care for older ... more The provision of informal care by adult children is an important form of longterm care for older individuals and can reduce the use of medical services if they are substitutes. We examine how informal care by all children and formal care interact, which is critically important given demographic trends and the many policies proposed to promote informal care. The purpose of this study is to compare the United States and European countries, by merging data from the U.S. Health and Retirement Study (HRS) with its European counterpart, the Survey of Health, Ageing and Retirement in Europe (SHARE). We argue that the institutional setting is di¤erent across the Atlantic, as European home care schemes are predominantly publicly run, whereas the market plays a bigger role in the United States. We use a fexible simultaneous equations approach that allows for a di¤erent relationship between informal and formal home care in the two regions, using copulas. We nd that in Europe it is predominant...
Econometric Theory, 1991
Commencing with this issue ET will publish photographs, both recent and historical, that are of i... more Commencing with this issue ET will publish photographs, both recent and historical, that are of interest to the econometrics community. All readers of £Tare encouraged to support this section of the Journal. Please submit photographs (good quality final prints) that you believe may be of interest to the econometrics community at large. Photographs of econometricians at work and at play will be considered as will group photographs, especially those that are of historical interest. All submissions should be sent to the Editor. Please provide: (i) full details of the subjects in the photographs, and the date (or approximate date) of the photograph; (ii) a suggested caption to accompany the photograph. THE EDITOR:
Very preliminary and incomplete draft Please do not quote without author permission Comments are ... more Very preliminary and incomplete draft Please do not quote without author permission Comments are very welcome
Recent literature in health care economics has shown increasing interest in the use of contingent... more Recent literature in health care economics has shown increasing interest in the use of contingent valuation for measuring willingness to pay (WTP) as the economic value of health benefits. The impact of the provision of different levels and types of information on the results of contingent valuation studies has been examined in empirical work and discussed in the literature. However, the impact of the level of information on WTP may depend upon the delivery mechanism. This has not been assessed yet. We propose to study this effect while assessing patient preferences concerning a new class of drugs in the field of influenza disease. New anti-influenza drugs entered the market quite recently allowing influenza symptom alleviation for 1.5 days. These neuraminidase inhibitor drugs are currently prescription drugs but are not covered by health insurers. These drugs could well be imagined to be available over the counter (OTC) due to their small range of benign side effects and their ease...
The rapid growth of health expenditure has become a great concern for both households and governm... more The rapid growth of health expenditure has become a great concern for both households and governments. There is extensive literature on the determinants of health expenditure in OECD countries, but the same is not true for developing countries. The aim of this study is to understand the trajectory of health expenditure in developing countries. We use panel data from 143 countries over 14 years, from 1995 to 2008 to study this. We apply both standard fixed effects and dynamic models to explore the factors associated with the growth of total health expenditure as well as its main components namely, government health expenditure and out-of-pocket payments. Our data show great variation across countries in health expenditure as a share of GDP, which ranges from less than 5% to 15%. Apart from income many factors contribute to this variation, ranging from demographic factors to health system characteristics. Our results suggest that health expenditure in general does not grow faster than...
The aim of this paper is to model a liberal profession, in this case physicians. We propose a mod... more The aim of this paper is to model a liberal profession, in this case physicians. We propose a model in which the physician acts in the same way as an agent who maximises his utility function subject to his budget constraint, while at the same time being able to affect his rate of remuneration. This model presupposes that physicians attempt to reach two target, namely income and leisure, and that the trade-o€ between these two target depends on their monopolistic power. Unlike existing models, our proposed model advances that some physicians may have a disutility for leisure and may adopt altruistic or strategic behaviours. To determine the relevance of our model, we estimate salaried, firm and agent versions of the model based on a sample of 317 physicians practicing in the Provence-Alpes-Cote d'Azur region (PACA). We observe that physicians do not act like a purely profit-maximising firm. Furthermore, they are able to affect their net remuneration rate through their labour supp...
Dans cet article nous considerons le probleme consistant a tester l'exogeneite d'un sous-... more Dans cet article nous considerons le probleme consistant a tester l'exogeneite d'un sous-ensemble de variables supposees a priori endogenes dans un modele econometrique. Nous montrons d’abord qu'il est possible de presenter de facon generale ce probleme a la fois dans le cadre des variables instrumentales et dans celui du maximum de vraisemblance, le cas des modeles a equations simultanees en etant un cas particulier.Nous proposons une procedure simple permettant d'effectuer ce test sur la base d'une "regression etendue". Nous comparons cette procedure a celles qui ont ete proposees dans la litterature. Nous montrons egalement qu'elle possede les memes proprietes asymptotiques (locales) que celle des tests classiques fondes sur la vraisemblance.
The provision of informal care by adult children is an important form of longterm care for older ... more The provision of informal care by adult children is an important form of longterm care for older individuals and can reduce the use of medical services if they are substitutes. We examine how informal care by all children and formal care interact, which is critically important given demographic trends and the many policies proposed to promote informal care. The purpose of this study is to compare the United States and European countries, by merging data from the U.S. Health and Retirement Study (HRS) with its European counterpart, the Survey of Health, Ageing and Retirement in Europe (SHARE). We argue that the institutional setting is di¤erent across the Atlantic, as European home care schemes are predominantly publicly run, whereas the market plays a bigger role in the United States. We use a fexible simultaneous equations approach that allows for a di¤erent relationship between informal and formal home care in the two regions, using copulas. We nd that in Europe it is predominant...