Abstract
Despite dramatic improvements in medical technology, little attention has been paid to the role of these innovations in improving economic outcomes. This study estimates the labor supply effects of Cox-2 inhibitors, a widely prescribed class of pharmaceuticals used for the treatment of chronic pain and inflammation and primarily marketed under the brand names Vioxx, Celebrex, and Bextra. This paper exploits the removal of Vioxx from the market in 2004 as an exogenous change in drug use. This removal was associated with a 0.35 percentage point decrease in overall labor force participation and $19 billion in lost wages.
Original language | English (US) |
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Pages (from-to) | 116-137 |
Number of pages | 22 |
Journal | American Economic Journal: Applied Economics |
Volume | 4 |
Issue number | 3 |
DOIs | |
State | Published - Jul 2012 |
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
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Dive into the research topics of 'The economic benefits of pharmaceutical innovations: The case of cox-2 inhibitors'. Together they form a unique fingerprint.Datasets
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Replication data for: The Economic Benefits of Pharmaceutical Innovations: The Case of Cox-2 Inhibitors
Garthwaite, C. (Creator), ICPSR - Interuniversity Consortium for Political and Social Research, 2012
DOI: 10.3886/e113822v1, https://www.openicpsr.org/openicpsr/project/113822/version/V1/view
Dataset
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Replication data for: The Economic Benefits of Pharmaceutical Innovations: The Case of Cox-2 Inhibitors
Garthwaite, C. (Creator), ICPSR - Interuniversity Consortium for Political and Social Research, 2012
DOI: 10.3886/e113822, https://www.openicpsr.org/openicpsr/project/113822
Dataset
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Replication data for: The Economic Benefits of Pharmaceutical Innovations: The Case of Cox-2 Inhibitors
Garthwaite, C. (Creator), ICPSR - Interuniversity Consortium for Political and Social Research, 2012
DOI: 10.3886/e113822v1-94081, https://www.openicpsr.org/openicpsr/project/113822/version/V1/view?path=/openicpsr/113822/fcr:versions/V1/LICENSE.txt&type=file
Dataset