Monthly Archives: February 2013

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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The Obama Public Works Plan

There are three elements of this plan according to the NYTimes: 1. The first element of the plan is a “fix it first” policy that calls for investing $50 billion in transportation infrastructure, subject to Congressional approval. Fully $40 billion of … Continue reading

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Railroaded & The Effectiveness of Historical Government Infrastructure Investments

A historian recently recommended this book to me – it takes a pretty critical view of subsidies for infrastructure historically and sounds like a good book.

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Who Benefits from the EITC?

Given the discussion on minimum wages and other low-income programs, I thought I’d highlight a study by Jesse Rothstein that roughly argues that the EITC encourages more people to work, which bids wages down for low income workers and enables … Continue reading

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At a wedding, back Monday

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Only Game In Town: Housing Finance & the US Government

The USG, which has provided a ton of fiscal support for housing finance, continues to be the only game in town. Source: Slide 10. Data as of end of Dec 2012.

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Tax Cuts for Whom? Do tax changes for high income taxpayers generate more growth than similarly sized tax changes for lower income taxpayers?

        This figure, which is from a recently revised and submitted paper of mine, shows how the multiplier varies across the income distribution. It shows that equivalently sized tax changes for lower income groups have larger macroeconomic impacts on … Continue reading

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