题目：What is in “Moral Hazard”? Evidence from Quasi Experiments in China

主讲人：黄炜，新加坡国立大学

时间：2020年4月27日，13:30-15:00

举办方式：线上讲座

黄炜，新加坡国立大学校长特聘助理教授，Economics of Transition （国际SSCI）的主编之一。之前，黄博士是国家经济研究局（NBER）博士后研究员。黄博士于2016年获得哈佛大学经济学博士学位，于2011年获得北京大学国家发展学院经济学硕士学位，于2008年获得北京大学物理学院物理学学士学位。他的研究领域是公共经济学，劳动经济学和卫生经济学。他的研究兴趣在健康，教育，和中国等领域。他的研究成果已发表于国内外顶级经济学学术期刊上，如Review of Economic and Statistics, Journal of Labor Economics, American Economic Journal: Applied Economics, Nature, Journal of Economic Perspectives, Social Science & Medicine, 《 管理世界》，《经济学季刊》等。

We explore two different natural experiments in urban China using administrative data with more than 3 million observations to estimate the price elasticity and income elasticity o healthcare utilization. First, we exploit a sharp reduction in inpatient cost sharing at age 80 in one city, using a regression discontinuity design (RDD) to examine its effect on utilization. The price elasticity of inpatient care usage ranges from -0.15 to -0.32. The effects are larger for poorer populations. Second, we explore the timing of pension increases in different years, using an event study approach to estimate their impacts on healthcare usage. For the same population, we find that the income elasticity of inpatient care usage ranges from 1.3-2.0, which suggests that 40-60 percent of the moral hazard is overestimated because of income effect. For the poorer population, approximately 50-70 percent of the price elasticity could be explained by income effect. Finally, the reduced cost sharing is associated with significantly lower out-of-pocket (OOP) expenditures but has little impact on mortality. (JEL: H55, I13, I18, J14)

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