We use national data from 1960 to 2000 to estimate the demand for pharmaceuticals in the United States. We then simulate consumer surplus gains from a hypothetical drug price control policy that would have limited drug price increases to the rate of inflation from 1981 to 2000. Using a range of...

This paper estimates the aggregate demand for private health insurance coverage in the U.S. using an error-correction model and by recognizing that people are without private health insurance for voluntary, structural, frictional, and cyclical reasons and because of public alternatives....

The few empirical studies on the relationship between performance and pay in the public sector have been unable to measure adequately public sector output. This paper overcomes the measurement problem by focusing on the pay of the local property tax collector, for whom an output indicator - the...