The Economic Value of Eliminating Diseases

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Abstract

We estimate the causal effects of 334 different types of health shocks on medical
expenses, mortality, disability, labor market participation, labor earnings, and the need for nursing home care using detailed data on 6.9 million people diagnosed by medical specialists between 2013 and 2017. We quantify the benefits of eliminating diseases with distinct consequences for people of different social strata by incorporating the estimates into a standard life-cycle model. Our results reveal substantial heterogeneity in welfare gains by types of disease for different people. We discuss the potential implications of our results for the financing of medical research.
Original languageEnglish
Place of PublicationTilburg
PublisherCentER, Center for Economic Research
Number of pages55
Volume2022-029
Publication statusPublished - 21 Nov 2022

Publication series

NameCentER Discussion Paper
Volume2022-029

Keywords

  • health shocks
  • household finance
  • life cycle
  • health economics
  • public health expenditure
  • labor earning
  • labor participation
  • mortality
  • medical expenses

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