This article examines the relationship between Research & Development (R&D) funding and the production of knowledge by academic chemists. Using articles published, either raw counts or adjusted for quality, we find a strong, positive causal effect of funding on knowledge production. This effect...

The impacts of two recent changes in US patent policy depend on the length of time it takes for an invention to go through the examination process. Concerns over the distributional effects of these changes were expressed during policy debates. We use data on U.S. patent applications and grants...

We introduce a new weekly database of spot and forward US-UK exchange rates as well as interest rates to examine the integration of forward exchange markets during the classical gold standard period (1880-1914). Using threshold autoregressions (TAR), we estimate the transactions cost band of...