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    Impacts of Universal Health Coverage: Financing, Income Inequality, and Social Welfare

    Huang, Xianguo; Yoshino, Naoyuki | November 2016
    Abstract
    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.
    Citation
    Huang, Xianguo; Yoshino, Naoyuki. 2016. Impacts of Universal Health Coverage: Financing, Income Inequality, and Social Welfare. © Asian Development Bank Institute. http://hdl.handle.net/11540/6863.
    Keywords
    Good Governance
    Governance Approach
    Governance Models
    World Health Organization
    Quality of Health Care
    Public Health Finance
    Private Health Care
    Healthier Families
    Nutrition and Health Care
    Health Statistics
    Health Objectives
    Health Issues
    Health Care Cost Control
    Political Leadership
    Public Administration
    Traditional Medicine
    Medical Statistics
    Medical Services
    Medical Costs
    Health Costs
    Medical Aspects
    Child Nutrition
    Disease Control
    Diseases
    Civil government
    Common good
    Federal government
    Delivery of government services
    Government missions
    Taxation
    Public health records
    Cost of medical care
    Nutrition policy
    Health status indicators
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    Citable URI
    http://hdl.handle.net/11540/6863
    Metadata
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    Author
    Huang, Xianguo
    Yoshino, Naoyuki
    Theme
    Governance
    Health
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise