Modeling and Forecasting of US Health Expenditures Using ARIMA Models

Conference paper
Part of the Springer Proceedings in Business and Economics book series (SPBE)

Abstract

This paper presents the practical steps to be analyzed in order to use autoregressive integrated moving average (ARIMA) time series models to forecast the total health expenditures, as a percentage of GDP, for the USA. The aim of this study is to identify the appropriate type of model based on the Box–Jenkins methodology. In particular, we apply the static one-step ahead forecasting method to the annual data over the period 1970–2015. The results from this study show that ARIMA (0,1,1) model is the appropriate model to forecast the US health expenditures in this period.

Keywords

ARIMA model Health expenditure Box-Jenkins Forecasting 

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Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Department of Applied InformaticsUniversity of Macedonia, Economics and Social SciencesThessalonikiGreece

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