Patent-holding pharmaceutical companies are shown to be imperfectly able to charge differential prices for AIDS drugs due to the potential for black market exchange. Thus, greater segmentation in the international market through additional barriers to smuggling would induce firms to charge lower...

The 1930s American Dust Bowl was an environmental catastrophe that greatly eroded sections of the Plains. The Dust Bowl is estimated to have immediately, substantially, and persistently reduced agricultural land values and revenues in more-eroded counties relative to less-eroded counties. During...

The 1930's American Dust Bowl was an environmental catastrophe that greatly eroded sections of the Plains. Analyzing new data collected to identify low-, medium-, and high-erosion counties, the Dust Bowl is estimated to have immediately, substantially, and persistently reduced agricultural land...

We quantify agglomeration spillovers by comparing changes in total factor productivity (TFP) among incumbent plants in "winning" counties that attracted a large manufacturing plant and "losing" counties that were the new plant's runner-up choice. Winning and losing counties have similar trends...