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来源类型Working Paper
规范类型报告
DOI10.3386/w24957
来源IDWorking Paper 24957
Unpacking the effects of adverse regulatory events: Evidence from pharmaceutical relabeling
Matthew J. Higgins; Xin Yan; Chirantan Chatterjee
发表日期2018-09-03
出版年2018
语种英语
摘要We provide causal evidence that regulation induced product shocks significantly impact aggregate demand and firm performance in pharmaceutical markets. Event study results suggest an average loss between $569 million and $882 million. Affected products lose, on average, $186 million over their remaining effective patent life. This leaves a loss of between $383 million and $696 million attributable to declines in future innovation. Our findings complement research that shows drugs receiving expedited review are more likely to suffer from regulation induced product shocks. Thus, it appears we may be trading off quicker access to drugs today for less innovation tomorrow. Results remain robust to variation across types of relabeling, market sizes, and levels of competition.
主题Health, Education, and Welfare ; Health ; Industrial Organization ; Regulatory Economics ; Industry Studies
URLhttps://www.nber.org/papers/w24957
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/582631
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Matthew J. Higgins,Xin Yan,Chirantan Chatterjee. Unpacking the effects of adverse regulatory events: Evidence from pharmaceutical relabeling. 2018.
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