Arbeitspapier
Impacts of universal health coverage: Financing, income inequality, and social welfare
This paper studies the impact of tax-financed universal health coverage schemes on macroeconomic aspects of labor supply, asset holding, inequality, and welfare, while taking into account features common to developing economies, such as informal employment and tax avoidance, by constructing a dynamic stochastic general equilibrium model with heterogeneous agents. Agents have different education levels, employment statuses, and idiosyncratic shocks. Given three tax financing options, calibration results based on the Thai economy suggest that the financing options matter for outcomes both at the aggregate and disaggregate levels. Universal health coverage, financed by labor income tax revenue, could reduce inequality due to its large redistributive role. Social welfare cannot be improved when labor decisions are endogenous and distortions are higher than the redistributive gains for all tax financing options. In the absence of labor supply choice, mild welfare gains are found. In a broader sense, the paper aims to provide a frame for policy evaluation of socioeconomic policies from both macro and micro perspectives, taking different social groups into consideration.
- Language
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Englisch
- Bibliographic citation
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Series: ADBI Working Paper ; No. 617
- Classification
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Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Informal Economy; Underground Economy
Fiscal Policy
Demographic Trends, Macroeconomic Effects, and Forecasts
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
National Government Expenditures and Health
- Subject
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universal health insurance
dynamic stochastic general equilibrium model
tax finance
social welfare
labor supply
- Event
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Geistige Schöpfung
- (who)
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Huang, Xianguo
Yoshino, Naoyuki
- Event
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Veröffentlichung
- (who)
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Asian Development Bank Institute (ADBI)
- (where)
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Tokyo
- (when)
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2016
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Huang, Xianguo
- Yoshino, Naoyuki
- Asian Development Bank Institute (ADBI)
Time of origin
- 2016
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