Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

major changes in the American innovation ecosystem over the past century. The past three decades have been marked by a …

I analyze the effects of four types of medical innovation and cancer incidence on U.S. cancer mortality rates during …Under the assumption that there were no pre-dated factors that drove both innovation and mortality and that there would … have been parallel trends in mortality in the absence of innovation, the estimates indicate that there were three major …

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …

We examine the impact of pharmaceutical innovation on the longevity of Australians during the period 1995-2003. Due to …

the elasticity of innovation with respect to the expected price of drugs should be at least as great as the elasticity of … innovation with respect to expected market size (disease incidence). I examine the cross-sectional relationship between … pharmaceutical innovation and market size among a set of diseases (different types of cancer) exhibiting substantial exogenous …

higher rates of lab and outpatient innovation had greater declines in the probability of missing work during 1996-2003. This … for initial disability, the inverse relationship between lab innovation and disability changes disappears. This is because … there is a significant inverse relationship between initial health and the extent of laboratory innovation. But due to …