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This research investigates the hypothesis that publicly funded scientific research complements private R&D investment … in the pharmaceutical industry. New microlevel data on public research investment by the U.S. National Institutes of … explaining pharmaceutical R&D investment. Using a panel of therapeutic classes observed over eighteen years, the analysis finds …
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Recent policy attention has focused on proposals to reduce prices for drugs that have received public funding. From an implementation perspective, such policies rely on public disclosure of government support for research. In this paper, we highlight two conceptual problems with past attempts to...
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investment in knowledge, and its productivity, looking at sectoral peculiarities which may emerge; to this end, we use a large …
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We explore how firms respond to downstream product shocks. We find that affected firms increase R&D and make additional safety-related investments in their existing assets-in-place. These investments vary with firm capabilities and across shock severity. Competitors appear to vicariously learn...
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