NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Rainer Kotschy

Ludwig Maximillian University Munich
Seminar for Population Economics
Schackstr. 4, Room 416
80539 Munich

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
Institutional Affiliation: Ludwig-Maximillians-University Munich

NBER Working Papers and Publications

June 2019Health and Economic Growth: Reconciling the Micro and Macro Evidence
with David E. Bloom, David Canning, Klaus Prettner, Johannes J. Sch√ľnemann: w26003
Economists use micro-based and macro-based approaches to assess the effects of health on economic growth. The micro-based approach tends to find smaller effects than the macro-based approach, thus presenting a micro-macro puzzle regarding the economic return on health. We reconcile these two strands of literature by showing that the point estimate of the macroeconomic effect of health is quantitatively close to that found by aggregating the microeconomic effects, when carefully specifying the estimation equations and controlling for spillovers of health at the aggregate level. Our results justify using the micro-based approach to estimate the direct economic benefits of health interventions.
 
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