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Table 5 Instrumental variable panel data estimation off-patent markets.

From: The effects of drug market regulation on pharmaceutical prices in Europe: overview and evidence from the market of ACE inhibitors

Dependent variable: price

   
 

Model (3)

Model (4)

 

FE

RE

FE

RE

genprice

0.524***

0.657***

0.523***

0.644***

 

(0.111)

(0.147)

(0.114)

(0.134)

N

  

0.001

-0.002

   

(0.003)

(0.003)

Rf

-0.090*

-0.121**

-0.089*

-0.118**

 

(0.051)

(0.061)

(0.052)

(0.058)

Sm

-0.342***

-0.309***

-0.341***

-0.310***

 

(0.034)

(0.039)

(0.035)

(0.037)

Mark

-0.303***

-0.292***

-0.302***

-0.282***

 

(0.050)

(0.049)

(0.055)

(0.051)

profitc

 

-0.560***

 

-0.563***

  

(0.189)

 

(0.199)

clawback

-0.058

-0.067*

-0.058

-0.067*

 

(0.036)

(0.036)

(0.037)

(0.036)

Tax

 

0.377***

 

0.361***

  

(0.114)

 

(0.126)

Cea

-0.047

-0.056

-0.045

-0.054

 

(0.036)

(0.038)

(0.036)

(0.038)

constant

-0.889***

-0.683*

-0.754**

-0.546*

 

(0.330)

(0.378)

(0.297)

(0.307)

Observations

1645

1645

1645

1645

Rsq within

0.511

0.490

0.511

0.493

Rsq between

0.796

0.906

0.796

0.903

Rsq overall

0.723

0.818

0.724

0.816

Wald chi sq

173361.16

1411.47

173341.90

1439.64

  1. *, **, *** refer to statistical significance at the α = 1%, 5% and 10% respectively.
  2. Standard errors in parenthesis.
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Health Economics Review

ISSN: 2191-1991

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