Similar Search Results

The impact of new drug launches on longevity : evidence from longitudinal disease-level data from 52 countries, 1982-2001

Lichtenberg, Frank R. - 2003

We perform an econometric analysis of the effect of new drug launches on longevity, using data from the IMS Health Drug Launches database and the WHO Mortality Database. Our data cover virtually all of the diseases borne by people in 52 countries during the period 1982-2001, and enable us to...

Persistent link: https://www.econbiz.de/10012468944

Forecasting Crashes : Trading Volume, Past Returns and Conditional Skewness in Stock Prices

Chen, Joseph - 2000

This paper is an investigation into the determinants of asymmetries in stock returns. We develop a series of cross-sectional regression specifications which attempt to forecast skewness in the daily returns of individual stocks. Negative skewness is most pronounced in stocks that have...

Persistent link: https://www.econbiz.de/10012471074

Training, Tenure, and Productivity

Lichtenberg, Frank R. - 1981

for estimation of the marginal productivity of workers classified by length of service to the firm, i.e., of the tenure …

Persistent link: https://www.econbiz.de/10012478450

Pandemics, Vaccines and Corporate Earnings

Hong, Harrison - 2020

We estimate a model of damage to corporate earnings from COVID-19. An unexpected pandemic lowers current earnings due to costly mitigation and reduces growth rates. Damage depends on the expected arrival of a vaccine that reverts earnings to normal. Using this model, we infer from analysts'...

Persistent link: https://www.econbiz.de/10012481132

The Only Game in Town : Stock-Price Consequences of Local Bias

Hong, Harrison - 2005

Theory suggests that, in the presence of local bias, the price of a stock should be decreasing in the ratio of the aggregate book value of firms in its region to the aggregate risk tolerance of investors in its region. We test this proposition using data on U.S. Census regions and states, and...

Persistent link: https://www.econbiz.de/10012467191

The Effect of Education on Medical Technology Adoption : Are the More Educated More Likely to Use New Drugs

Lleras-Muney, Adriana - 2002

There is a large body of work that documents a strong, positive correlation between education and measures of health, but little is known about the mechanisms by which education might affect health. One possibility is that more educated individuals are more likely to adopt new medical...

Persistent link: https://www.econbiz.de/10012469525

The Effect of Changes in Drug Utilization on Labor Supply and Per Capita Output

Lichtenberg, Frank R. - 2002

We hypothesize that pharmaceutical-embodied technical progress increases per capita output via its effect on labor supply (the employment rate and hours worked per employed person). We examine the effect of changes in both the average quantity and average vintage (FDA approval year) of drugs...

Persistent link: https://www.econbiz.de/10012469570

Sources of U.S. Longevity Increase, 1960-1997

Lichtenberg, Frank R. - 2002

models using annual U.S. time-series data on life expectancy, health expenditure, and medical innovation. Reliable annual … data are available for only one type of innovation - new drugs - but pharmaceutical R&D accounts for a significant fraction … innovation (in the form of new drug approvals) and expenditure on medical care (especially public expenditure) contributed to …

Persistent link: https://www.econbiz.de/10012469960

Social Interaction and Stock-Market Participation

Hong, Harrison - 2001

We investigate the idea that stock-market participation is influenced by social interaction. We build a simple model in which any given 'social' investor finds it more attractive to invest in the market when the participation rate among his peers is higher. The model predicts higher...

Persistent link: https://www.econbiz.de/10012470362

Breadth of Ownership and Stock Returns

Chen, Joseph - 2001

We develop a model of stock prices in which there are both differences of opinion among investors as well as short-sales constraints. The key insight that emerges is that breadth of ownership is a valuation indicator. When breadth is low i.e., when few investors have long positions in the stock...

Persistent link: https://www.econbiz.de/10012470575