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Activity Number:
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348
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Type:
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Topic Contributed
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Date/Time:
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Wednesday, August 6, 2008 : 8:30 AM to 10:20 AM
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Sponsor:
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Biometrics Section
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| Abstract - #302115 |
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Title:
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Do Prescription Drug Expenditures Have Cost-Offsets? A Panel Data Analysis Using Copulas
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Author(s):
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Pravin K. Trivedi and David Zimmer*+
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Companies:
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Indiana University and Western Kentucky University
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Address:
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Dept of Economics, Bowling Green, KY, 42101,
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Keywords:
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Panel data ; Likelihood inference ; cost offsets
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Abstract:
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There is a body of literature that considers the question whether policymakers should be concerned about the rapid growth of prescription drug expenditures or whether such expenditures on prescription drugs pay for themselves by offsetting other healthcare expenditures. The empirical results at present are inconclusive. Using the framework of bivariate copulas, the paper considers whether prescription drugs and other medical care services are substitutes or complements in consumption. Two nationally representative panel datasets are used: the Medical Expenditure Panel Survey (MEPS) and the Medicare Current Beneficiaries Survey (MCBS).
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