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The Economic Impacts of the Tobacco SettlementDavid M. CutlerHarvard University - Department of Economics; National Bureau of Economic Research (NBER) Jonathan GruberMassachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER) Raymond S. HartmanGreylock McKinnon Associates Mary Beth LandrumHarvard Medical School Joseph P. NewhouseHarvard Medical School; Harvard Kennedy School (HKS); National Bureau of Economic Research (NBER) Meredith B. RosenthalHarvard University - Harvard School of Public Health June 2000 NBER Working Paper No. w7760 Abstract: Recent litigation against major tobacco companies culminated in a Master Settlement Agreement' (MSA) under which the participating companies agreed to compensate most states for Medicaid expenses. We outline the terms of the settlement and analyze whether it was a move toward economic efficiency using data from Massachusetts. Medicaid spending will fall, but only a modest amount ($0.1 billion). The efficiency issue turns mainly on the treatment of health benefits from reduced smoking induced by the settlement. We conclude that the settlement was a move towards economic efficiency.
Number of Pages in PDF File: 29 working papers seriesDate posted: July 18, 2000Suggested CitationContact Information
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