Discussion Paper 35
Health Capital: an application for Germany, Hungary, Spain and the UK
Francisco Goerlich Gisbert1, Juan Pérez Ballester2, Antónia Hüttl3, Mary O'Mahony4, Erika Schulz5 and Lucy Stokes6
1 University of Valencia and Instituto Valenciano de Investigaciones Económicas (IVIE), Valencia, Spain
2 Instituto Valenciano de Investigaciones Económicas (IVIE), Valencia, Spain
3 Kopint‐Tárki Konjunktúrakutató Intézet Zrt (TARKI), Budapest, Hungary
4 Birmingham Business School (BHAM), Birmingham, UK
5 Deutsches Institut fuer Wirtschaftsforschung (DIW), Berlin, Germany
6 National Institute of Economic and Social Research (NIESR), London
Abstract
This paper provides health capital estimates for four European countries: Germany, Hungary, Spain and the United Kingdom. We show the sensitivity of the estimates to the use of different assumptions. We compare the resulting measures with information on healthcare expenditure to provide a broad indication of value for money of the different health systems. These indicators are necessarily crude, but could be improved with enhanced data on healthcare expenditure by age. While the development of such data would be valuable for this purpose, given demographic changes, it is clearly also of much wider importance.
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Health Capital: an application for Germany, Hungary, Spain and the UK