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procurement. Our identification strategy leverages a legislative change in Italy that mandated centralized purchases for a sub …-set of devices. The statutory centralization generated a reduction in prices and an increase in delivery times for …
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Can industrial policy be effective when dealing with a revolutionary new technology? Mark Casson's recent book, "The World's First Railway System," offers the intriguing claim that a slight dose of central planning by the British government in the 1840s would have produced a dramatically more...
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