Abstract #301823

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JSM 2003 Abstract #301823
Activity Number: 342
Type: Contributed
Date/Time: Wednesday, August 6, 2003 : 9:00 AM to 10:50 AM
Sponsor: Section on Health Policy Statistics
Abstract - #301823
Title: The Real Price of Medical Care and Money Supply Shocks: Time Series Evidence
Author(s): Clifton M. Loo*+ and Ralph S. Donehoo
Companies: Centers for Disease Control and Prevention and Centers for Disease Control and Prevention
Address: 4770 Buford Hwy., Atlanta, GA, 30341-3717,
Keywords: medical care prices ; monetary policy ; vector autoregression
Abstract:

We estimate the dynamic response of the real price of medical care, medical care commodities and medical care services to money supply shocks. These money supply shocks are identified empirically using standard contemporaneous restrictions in the context of a vector autoregression. Using monthly data, we find the money shocks have real effects on the medical care market: the real price of medical care, medical care commodities and medical care services rise in the short run in response to money supply shocks.

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