Mark C. Kelly

Assistant Professor, Department of Economics

Hankamer School of Business

Baylor University

One Bear Place #98001

Waco, TX 76798


Ph.D., Economics, University of Georgia

B.S., Economics, Arizona State University

Research Interests: Macroeconomics, economic growth, medical innovation, health insurance, healthcare reform

Teaching: Principles of Macroeconomics, Intermediate Macroeconomics, Graduate Macroeconomics


Published Papers


Kelly, M. (2017). “Health Capital Accumulation, Health Insurance, and Aggregate Outcomes: A Neoclassical Approach” Journal of Macroeconomics (52), 1-22.

Kelly, M. (Forthcoming). Medicare For All or Medicare For None? A Macroeconomic Analysis of Healthcare Reform” Journal of Macroeconomics

Working Papers


Social Security Reform and Growth in an Overlapping Generations Economy with Heterogeneous Agents

Cost Disease and Physician Shortages: An Analysis of Rising Healthcare Expenditures from the Supply Side (with Qian Wu)

Research in Progress


Congestion in a Public Health Service: A Macro Approach (with Michael Kuhn)

Aid and the Informal Economy (with Santanu Chatterjee and Stephen Turnovsky)

The Fiscal Challenge of Funding Healthcare: Examining the Trade-offs between Rising Public Healthcare Expenditures and Discretionary Government Spending

The Effect of Aggregate Specialist and Primary Care Physician Supply on Healthcare Productivity and Costs (with Qian Wu)

Socially-Optimal Healthcare Spending in a Congested Public Health Service (with Michael Kuhn)

Book Chapters

“Household Labor Supply and Dynamic Macroeconomic Analysis.” (with Ronald S. Warren, Jr.) In Esther Redmount (Ed.), The Economics of the Family: How the Household Affects Markets and Economic Growth, Vol. 2 (Santa Barbara, CA: Praeger, 2015), 237-265.