distributional effects

Measuring health outcomes: A new approach

Measuring people’s health status is vital for designing effective policies that support different age groups. But economists working in this field face a difficult challenge when it comes to integrating accurate health measures into their economic models. This then makes it difficult for policy-makers to make straightforward model-based decisions. This column offers a new metric and seeks to solve the issue of measuring health statuses and their associated economic outcomes. The new approach makes integrating important health data into economic models easier, helping yield more accurate results.