陈祎(合作者:Maurizio Mazzocco、Bela Szemely), "Explaining the Decline of the U.S. Saving Rate: the Role of Health Expenditure," International Economic Review (2019)

摘要International Economic Review是经济学科领域的国际权威期刊,被认为是世界经济学中最主要的期刊之一。

近日,我院助理教授陈祎的合作论文“Explaining the Decline of the U.S. Saving Rate: the Role of Health Expenditure”(合作者:Maurizio Mazzocco、Bela Szemely)被国际顶级期刊International Economic Review接受。International Economic Review是经济学科领域的国际权威期刊,被认为是世界经济学中最主要的期刊之一。该期刊创刊于1960年,由宾夕法尼亚大学和大阪大学联合主办。其关注面非常广,涵盖了经济学科的很多领域,包括计量经济学、经济学理论、宏观经济学、以及应用经济学等。


Between 1980 and 2009, the U.S. personal saving rate declined from 11 percent to 3 percent. In this paper, we provide evidence that most of the decline can be explained by rising health expenditures. We first employ reduced-form methods and exogenous variation in medical expenses generated by FDA drug approvals to document that a 1 percentage point increase in health expenditure generated a decline in the saving rate that is around 0.9 percentage points. We then develop and estimate a model of consumption, saving, and health decisions to evaluate which mechanisms are behind the decline. Using the estimated model, we document that the rise in medical expenses and drop in the saving rate are driven mainly by progress in health technology during the years 1995-2009, by the reduction in co-payment rates in the period 1986-1994, and by improvements in income processes for the years 1980-1985.


陈祎,暨南大学经济与社会研究院助理教授,2015年获得加州大学洛杉矶分校经济学博士学位,2010年获得北京大学经济学学士学位。他的研究领域为劳动经济学,家庭经济学,人口经济学,教育经济学。他的研究成果已发表于《经济学(季刊)》,Economic Development and Cultural Change等国内外知名期刊。