Borradores de Economía - Fiscal and macroeconomic effects of different health system risk factors
La serie Borradores de Economía es una publicación de la Subgerencia de Estudios Económicos del Banco de la República. Los trabajos son de carácter provisional, las opiniones y posibles errores son responsabilidad exclusiva del autor y sus contenidos no comprometen al Banco de la República ni a su Junta Directiva.
The series Borradores de Economía (Working Papers on Economics) contributes to the dissemination and promotion of the work by researchers from the institution. On multiple occasions, these works have been the result of collaborative work with individuals from other national or international institutions. This series is indexed at Research Papers in Economics (RePEc). The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
Abstract
This paper evaluates the fiscal and macroeconomic effects of some risks faced by the health system. These comprise changes in demographic and morbidity patterns, new medical technologies, inefficiencies in the system and the structure of the labor market. These factors represent a challenge for the fiscal sustainability of the health system since they require an increase in public resources and permanent sources of financing. The analysis is carried out using a Computable General Equilibrium Model (CGEM). According to the study, it is estimated that in 2030 an additional 1.91% of GDP will be required in public resources compared to 2022. However, if the country can increase economic growth and labor formalization, fiscal pressures could be reduced. Improving efficiency in the use of available resources and increasing productivity would also contribute to reducing the need for fiscal resources and improving the well-being of the population.
26TH OF MARCH, 2024 - 
