Tag Archives: Innovation

Public R&D Investments and Private Sector Patenting: Evidence from NIH Funding Rules

From Pierre Azoulay, Joshua Graff-Zivin, Danielle Li, and Bhaven Sampat: This paper measures the impact of public R&D investments on innovation by private sector firms. We quantify the returns to grant spending at the National Institutes of Health (NIH) in … Continue reading

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Heterogeneous Technology Diffusion and Ricardian Trade Patterns

From William Kerr: This study tests the importance of Ricardian technology differences for international trade. The empirical analysis has three comparative advantages: including emerging and advanced economies, isolating panel variation regarding the link between productivity and exports, and exploiting heterogeneous … Continue reading

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Do Tax Credits Stimulate R&D Spending? The Effect of the R&D Tax Credit in its First Decade

From Nirupama Rao: This paper examines the impact of the R&D tax credit between 1981-1991 using confidential IRS data from corporate tax returns. The key advances on previous work are an instrumental variables strategy based on tax law changes that addresses … Continue reading

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MIT’s Heidi Williams Decodes Economics of Gene Sequencing

Here’s an interesting profile of Heidi Williams and her work on innovation in healthcare. HT: Marginal Revolution

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State Incentives for Innovation, Star Scientists and Jobs: Evidence from Biotech

From Enrico Moretti and Dan Wilson: We evaluate the effects of state-provided financial incentives for biotech companies, which are part of a growing trend of placed-based policies designed to spur innovation clusters. We estimate that the adoption of subsidies for biotech … Continue reading

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Innovation and Production in a Global Economy

From Costas Arkolakis, Natalia Ramondo, Andrés Rodríguez-Clare, and Stephen Yeaple: The process of globalization features increasing international specialization in innovation or production. To assess the welfare implications of this process, we develop a quantitative, multi-country general equilibrium model where firms can serve … Continue reading

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Do fixed patent terms distort innovation? Evidence from cancer clinical trials

A new paper from Heidi Williams, Eric Budish, and Benjamin N. Roin: ABSTRACT: Patents award innovators a fixed period of market exclusivity, e.g., 20 years in the United States. Yet, since in many industries firms file patents at the time of discovery … Continue reading

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How Much Do Wages Go Up When Profit Increases by a Dollar?

Given the interest in the rise of robots, shrinking labor shares and the owners of capital, I thought I’d highlight a Van Reenen paper that David Card suggested we read on the link between firm profitability and wages. It looks at at … Continue reading

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Why Edward Conard of Bain Capital is wrong about Inequality and Capital Income Taxation

Edward Conard, a former Managing Director at Bain Capital, has been creating quite a stir with his new book, Unintended Consequences. I haven’t had a chance to read it yet, but I’ve read this article in the NYTimes about it … Continue reading

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When the techies come to town…

The NY Times recently put out an alarmist article about the inflow of tech workers from Twitter and other startups moving into the city. While some of the concerns it raised about maintaining a vibrant and diverse neighborhood are completely … Continue reading

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