Is pharmaceutical expenditure related to the business cycles?

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URI: http://hdl.handle.net/10902/10103
ISSN: 1350-4851
ISSN: 1466-4291
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Autoría
Blázquez Fernández, CarlaAutoridad Unican; Cantarero Prieto, DavidAutoridad Unican; Pascual Sáez, MartaAutoridad Unican
Fecha
2016-07
Derechos
© Taylor & Francis "This is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economics Letters on 2015, available online: http://www.tandfonline.com/doi/abs/10.1080/13504851.2015.1102834"
Publicado en
Applied economics letters, Volume 23, Issue 10, 2 July 2016, Pages 705-707
Editorial
Taylor & Francis
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Palabras clave
Pharmaceutical expenditures
Business cycles
Health care system
Resumen/Abstract
ABSTRACT: Recent research is focused on the study of health care expenditure and fiscal sustainability. In order to facilitate the understanding of this issue, we centre our interest on the Spanish pharmaceutical expenditure. Specifically, using data for the period 1995–2012, in the article we analyse if economic cycles affect pharmaceutical expenditures. Our results support that there is a positive relationship between pharmaceutical expenditure and economic development. Therefore, we conclude that pharmaceutical expenditures are pro cyclical over the last years.
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