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. (2020). Medicare For All or Medicare For None? A Macroeconomic Analysis of Healthcare Reform.Journal of Macroeconomics (63), 103170

Under Review


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

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

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

Working Papers


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

Research in Progress


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.