英文标题:
《United States FDA drug approvals are persistent and polycyclic: Insights
into economic cycles, innovation dynamics, and national policy》
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作者:
Iraj Daizadeh
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最新提交年份:
2021
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英文摘要:
It is challenging to elucidate the effects of changes in external influences (such as economic or policy) on the rate of US drug approvals. Here, a novel approach, termed the Chronological Hurst Exponent (CHE), is proposed, which hypothesizes that changes in the long-range memory latent within the dynamics of time series data may be temporally associated with changes in such influences. Using the monthly number the FDA Center for Drug Evaluation and Research (CDER) approvals from 1939 to 2019 as the data source, it is demonstrated that the CHE has a distinct S-shaped structure demarcated by an 8-year (1939-1947) Stagnation Period, a 27-year (1947-1974) Emergent (time-varying Period, and a 45-year (1974-2019) Saturation Period. Further, dominant periodicities (resolved via wavelet analyses) are identified during the most recent 45-year CHE Saturation Period at 17, 8 and 4 years; thus, US drug approvals have been following a Juglar-Kuznet mid-term cycle with Kitchin-like bursts. As discussed, this work suggests that (1) changes in extrinsic factors (e.g., of economic and/or policy origin ) during the Emergent Period may have led to persistent growth in US drug approvals enjoyed since 1974, (2) the CHE may be a valued method to explore influences on time series data, and (3) innovation-related economic cycles exist (as viewed via the proxy metric of US drug approvals).
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中文摘要:
阐明外部影响(如经济或政策)的变化对美国药品批准率的影响是一个挑战。在这里,提出了一种新的方法,称为按时间顺序的赫斯特指数(CHE),该方法假设时间序列数据动态中潜在的长程记忆变化可能与这种影响的变化在时间上相关。使用FDA药物评价与研究中心(CDER)1939年至2019年批准的月度数据作为数据源,可以证明CHE具有明显的S形结构,由8年(1939-1947)停滞期、27年(1947-1974)突发(时变期)和45年(1974-2019)饱和期划分。此外,在最近45年的17年、8年和4年的CHE饱和期内,确定了主导周期(通过小波分析解决);因此,美国的药物批准一直遵循着一个巨大的库兹涅特中期周期,伴随着基钦式的爆发。如前所述,这项工作表明:(1)在紧急时期,外部因素(如经济和/或政策来源)的变化可能导致自1974年以来获得的美国药品批准的持续增长,(2)CHE可能是探索对时间序列数据影响的一种有价值的方法,(3)存在与创新相关的经济周期(通过美国药品批准的代理指标来看)。
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分类信息:
一级分类:Economics 经济学
二级分类:Econometrics 计量经济学
分类描述:Econometric Theory, Micro-Econometrics, Macro-Econometrics, Empirical Content of Economic Relations discovered via New Methods, Methodological Aspects of the Application of Statistical Inference to Economic Data.
计量经济学理论,微观计量经济学,宏观计量经济学,通过新方法发现的经济关系的实证内容,统计推论应用于经济数据的方法论方面。
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