A Price Index for Biomedical Research and Development

Price changes of goods and services used in biomedical research and development have important effects on the costs of conducting research. We summarize the trends suggested by a recently constructed biomedical research and development price index, which measures the effects of price changes on the...

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Bibliographic Details
Published in:Public health reports (1974) 1989-01, Vol.104 (1), p.11-13
Main Authors: Holloway, Thomas M., Jane S. Reeb
Format: Article
Language:English
Subjects:
Commerce
Consumer Price Index
Economic analysis
Economic indices
Economics
Grants
Gross national product
Health Expenditures
Humans
Medical research
National Institutes of Health (U.S.)
Price changes
Price indices
Prices
Producer price index
Research and development
United States
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Summary:Price changes of goods and services used in biomedical research and development have important effects on the costs of conducting research. We summarize the trends suggested by a recently constructed biomedical research and development price index, which measures the effects of price changes on the inputs to biomedical research from 1979 to 1986. The fixed-weighted index uses fiscal year 1984 National Institutes of Health expenditure patterns in developing the weights. The rate of increase shown in the price index peaked in 1981 and slowed in following years. However, in most years, the rate of increase in the price index has exceeded the rate of increase in other major price indexes, such as the consumer price index, the producer price index, and the Gross National Product fixed-weighted price index.
ISSN:0033-3549
1468-2877