Engelhardt, Gary V.; Gruber, Jonathan - In: American Economic Journal: Economic Policy 3 (2011) 4, pp. 77-102
We examine the impact of the expansion of public prescription-drug insurance coverage from Medicare Part D and find evidence of substantial crowd-out. Using the 2002-2007 waves of the Medical Expenditure Panel Survey, we estimate the extension of Part D benefits resulted in 75 percent crowd-out...