Hansen, Gary D.; Hsu, Minchung; Lee, Junsang - In: Journal of Economic Dynamics and Control 45 (2014) C, pp. 315-329
The steady-state general equilibrium and welfare consequences of a Medicare buy-in program, optional for those aged 55–64, is evaluated in a calibrated life-cycle economy with incomplete markets. Incomplete markets and adverse selection create a potential welfare improving role for health...
