Insurers' Negotiating Leverage and the External Effects of Medicare Part D

We thank Caleb Alexander, Mike Chernew, David Cutler, Richard Frank, Adriana Lleras-Muney, Joseph Newhouse, David Meltzer, Fiona Scott Morton, Jon Skinner and seminar participants at Boston University, Brown University, Columbia University, Cornell University, Harvard University, University of Chicago, University of Pennsylvania Wharton School, University of Illinois at Chicago, ASHE, NBER, and the Robert Wood Johnson Scholars in Health Policy annual meeting for helpful comments. The project was funded in part by the RWJ Foundation, and the National Institute on Aging. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.