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Crisis Innovation Policy from World War II to COVID-19

Gross, Daniel P.; Sampat, Bhaven N. - National Bureau of Economic Research - 2021

Innovation policy can be a crucial component of governments' responses to crises. Because speed is a paramount … objective, crisis innovation may also require different policy tools than innovation policy in non-crisis times, raising … distinct questions and tradeoffs. In this paper, we survey the U.S. policy response to two crises where innovation was crucial …

Persistent link: https://www.econbiz.de/10012585399

The Economics of Crisis Innovation Policy : A Historical Perspective

Gross, Daniel P.; Sampat, Bhaven N. - National Bureau of Economic Research - 2021

-produced penicillin, antimalarials, and a flu vaccine. We draw on this episode to discuss the economics of crisis innovation. Since the …

Persistent link: https://www.econbiz.de/10012482553

Moonshot : Public R&D and Growth

Kantor, Shawn Everett; Whalley, Alexander T. - National Bureau of Economic Research - 2023

We estimate the long-term effect of public R&D on growth in manufacturing by analyzing new data from the Cold War era Space Race. We develop a novel empirical strategy that leverages US-Soviet rivalry in space technology to isolate windfall R&D spending. Our results demonstrate that public R&D...

Persistent link: https://www.econbiz.de/10014322858

Monetary Policy and Innovation

Ma, Yueran; Zimmermann, Kaspar - National Bureau of Economic Research - 2023

We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 …-based aggregate innovation index, declines by up to 9 percent in the following 2 to 4 years. Based on previous estimates of the … sensitivity of output to innovation activities, these magnitudes imply that output could be 1 percent lower after another 5 years …

Persistent link: https://www.econbiz.de/10014372455

Science as a Public Good : Public Use and Funding of Science

Yin, Yian; Dong, Yuxiao; Wang, Kuansan; Wang, Dashun; … - National Bureau of Economic Research - 2021

Knowledge of how science is consumed in public domains is essential for a deeper understanding of the role of science in human society. While science is heavily supported by public funding, common depictions suggest that scientific research remains an isolated or 'ivory tower' activity, with...

Persistent link: https://www.econbiz.de/10012510627

Financial Intermediation and the Funding of Biomedical Innovation : A Review

Lo, Andrew W.; Thakor, Richard T. - National Bureau of Economic Research - 2022

We review the literature on financial intermediation in the process by which new medical therapeutics are financed, developed, and delivered. We discuss the contributing factors that lead to a key finding in the literature--underinvestment in biomedical R&D--and focus on the role that banks and...

Persistent link: https://www.econbiz.de/10013435156

Do Funding Agencies Select and Enable Risky Research : Evidence from ERC Using Novelty as a Proxy of Risk Taking

Veugelers, Reinhilde; Wang, Jian; Stephan, Paula E. - National Bureau of Economic Research - 2022

Concern exists that public funding of science is increasingly risk averse. Funders have addressed this concern by soliciting the submission of high-risk research to either regular or specially designed programs. Little evidence, however, has been gathered to examine the extent to which such...

Persistent link: https://www.econbiz.de/10013361975

The Feasibility of Using Bayh-Dole March-In Rights to Lower Drug Prices : An Update

Ouellette, Lisa Larrimore; Sampat, Bhaven N. - National Bureau of Economic Research - 2024

In December 2023, the Biden-Harris Administration released a proposed framework for exercising government "march-in" rights on high-priced taxpayer-funded drugs. While both proponents and critics of the new rules view them as having broad scope, march-in rights can be exercised only on patents...

Persistent link: https://www.econbiz.de/10014512071

Gender and Underrepresented Minority Differences in Research Funding

Cruz Castro, Laura; Ginther, Donna K.; Sanz Menéndez, Luis - National Bureau of Economic Research - 2022

This chapter reviews the data and literature on gender, race and ethnicity differences in research funding in the United States and Europe. The gender gap in research funding has closed at the National Science Foundation and National Institutes of Health in the United States and substantially...

Persistent link: https://www.econbiz.de/10013334326

Choose Your Moments : Peer Review and Scientific Risk Taking

Carson, Richard T.; Zivin, Joshua S. Graff; Shrader, Jeffrey - National Bureau of Economic Research - 2023

Science funding agencies such as the NIH, NSF, and their counterparts around the world are often criticized for being too conservative, funding incremental innovations over more radical but riskier projects. One explanation for their conservatism is the way the agencies use peer review of...

Persistent link: https://www.econbiz.de/10014322796