The US Food and drug Administration (FDA) is estimated to regulate markets accounting for about 20% of consumer spending in the US. This paper proposes a general methodology to evaluate FDA policies, in general, and the central speed-safety tradeoff it faces, in particular. We apply this methodology...

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Format:	Buch
Sprache:	English
Veröffentlicht:	Cambridge, Mass. National Bureau of Economic Research 2005
Schriftenreihe:	National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11724
Schlagworte:	United States / Food and Drug Administration Arzneimittel Beschleunigung Finanzierung USA / Food and Drug Administration Zulassung Pharmazeutisches Produkt / Arzneimittelrecht / Aufsichtsbehörde / Wirtschaftspolitische Wirkungsanalyse / Wohlfahrtseffekt / USA USA
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Zusammenfassung:	The US Food and drug Administration (FDA) is estimated to regulate markets accounting for about 20% of consumer spending in the US. This paper proposes a general methodology to evaluate FDA policies, in general, and the central speed-safety tradeoff it faces, in particular. We apply this methodology to estimate the welfare effects of a major piece of legislation affecting this tradeoff, the Prescription Drug User Fee Acts (PDUFA). We find that PDUFA raised the private surplus of producers, and thus innovative returns, by about
Beschreibung:	41 S. graph. Darst.