Innovation policy involves trading off monopoly output and pricing in the short run in exchange for incentives for …

This paper explores the economic incentives for medical procedure innovation. Using a proprietary dataset on billing … code applications for emerging medical procedures, we highlight two mechanisms that could hinder innovation. First, the … administrative hurdle of securing permanent, reimbursable billing codes substantially delays innovation diffusion. We find that …

pharmaceuticals. We challenge this orthodox view and show, to the contrary, that the pace of innovation often is faster in a world …

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 …

We develop a two-country model of endogenous innovation and imitation in order to study the interactions between these … maximizing entrepreneurs. The steady-state equilibrium is characterized by constant aggregate rates of innovation and imitation …

In this paper, I develop a model of dynamic comparative advantage based on endogenous innovation. Firms in each of two … and scarcity of natural resources, will specialize relatively in industrial innovation and in the production of high … subsidies and trade policies on the long-run rates of innovation in trade partner countries and on the long-run pattern of trade …