| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29574 |
| 来源ID | Working Paper 29574 |
| Peltzman Revisited: Quantifying 21st Century Opportunity Costs of FDA Regulation | |
| Casey B. Mulligan | |
| 发表日期 | 2021-12-20 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper revisits Peltzman (1973) in light of two recent opportunities to quantitatively assess tradeoffs in drug regulation. First, reduced regulatory barriers to drug manufacturing associated with the 2017 reauthorization of Generic Drug User Fee Amendments were followed by significantly more entry and lower consumer prices for prescription drugs. Using a simple and versatile industry model and historical data on entry, I find that easing generic restrictions discourages innovation, but this welfare cost is more than offset by consumer benefits from enhanced competition, especially after 2016. Second, accelerated vaccine approval in 2020 had unprecedented net benefits as it not only improved health but substantially changed the trajectory of the wider economy. The evidence suggests that cost-benefit analysis of FDA regulation is incomplete without accounting for substitution toward potentially unsafe and ineffective treatments that are both outside FDA jurisdiction and heavily utilized prior to FDA approval. Moreover, the policy processes initiating these 21st century regulatory changes show a clear influence of Peltzman’s 1973 findings. |
| 主题 | Health, Education, and Welfare ; Health ; Industrial Organization ; Regulatory Economics ; Industry Studies ; Development and Growth ; Innovation and R& ; D ; COVID-19 |
| URL | https://www.nber.org/papers/w29574 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587248 |
| 推荐引用方式 GB/T 7714 | Casey B. Mulligan. Peltzman Revisited: Quantifying 21st Century Opportunity Costs of FDA Regulation. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29574.pdf（941KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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