Philipson, Tomas; Berndt, Ernst R.; Gottschalk, Adrian H. B. - National Bureau of Economic Research (NBER) - 2005
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...