medical innovations whose returns are earned worldwide. Because world returns drive innovation and innovation is central to … countries. This paper analyzes the unique positive and normative implications of these innovation-induced linkages across … countries when governments centrally price health care. Providing world returns to medical innovation under such central pricing …

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 …

We investigate women's fertility, labor and marriage market responses to a health innovation that led to reductions in …

Pharmaceutical innovation policy involves managing a tradeoff between high prices for new products in the short … pharmaceuticals, suggesting low(er) price markets may have different dynamics with respect to innovation policy …

clinical trial design complexity. The results suggest that targeted regulatory innovation can shorten R&D periods without …

imprint on the postwar U.S. biomedical innovation system. Research areas it supported experienced rapid growth in postwar …

comparisons of innovations to incumbent technologies. For each innovation in our dataset, we observe its price and quality, as … well as the price and quality of an incumbent technology treating the same disease. Our main finding is that an innovation … over time. We calibrate that price declines of 4% between the time when a treatment is a new innovation and the time when …