The cardiovascular revolution and economic performance in the OECD countries

•Strong evidence of impact of cardiovascular mortality onincome per capita in OECD countries.•Most variation in OECD countries considered is driven by Eastern European members.•Starting from lower base, Eastern European countries have shown greatest relative benefits of surgical and therapeutic trea...

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Bibliographic Details
Published in:Journal of macroeconomics 2016-12, Vol.50, p.114-125
Main Authors: Hyclak, Thomas J., Skeels, Christopher L., Taylor, Larry W.
Format: Article
Language:English
Subjects:
Cardiovascular mortality
Income per capita
Intention-to-treat estimates
IV Estimates
OECD transition economies
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Summary:•Strong evidence of impact of cardiovascular mortality onincome per capita in OECD countries.•Most variation in OECD countries considered is driven by Eastern European members.•Starting from lower base, Eastern European countries have shown greatest relative benefits of surgical and therapeutic treatments over sample period.•Our data show a convergence in rates of cardiovascular mortality among the OECD countries over sample period. We find strong evidence that variation in cardiovascular mortality from year 2000 to year 2012 helps to explain variation in income per capita across the OECD countries. Most of the source of variation, however, comes from Eastern Europe. Better diffusion of surgical and therapeutic treatments since the year 2000 has demonstrably benefitted those still in the labor force in these relatively poor nations.
ISSN:0164-0704
1873-152X
DOI:10.1016/j.jmacro.2016.09.005