We update and extend our previous study of the effect of drug age -- years since FDA approval -- on total medical expenditure, in several respects. The estimates indicate that, in the entire population, a reduction in the age of drugs utilized reduces non-drug expenditure 7.2 times as much as it...

Coe and Helpman(1995) have measured the extent to which technology spills over between industrialized countries through the particular channel of trade flows. This paper re-examines two particular features of their study. First, we suggest that their functional form of how foreign R&D affects...

This paper presents evidence based on establishment-level Census Bureau data concerning the effects of ownership change on the employment and wages of both central-office workers and manufacturing plant employees. We find that central offices that changed owners between 1977 and 1982 had...