Economists, legal scholars and policy makers are concerned about the impact of patent litigation on the rate and direction of US innovation and on the functioning of the US intellectual property system. At this time, however, there is no reliable, comprehensive, free and publicly accessible...

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 Health allow measures of basic and clinical research in seven...

While most economists believe that public scientific research fuels industry innovation and economic growth, systematic evidence supporting this relationship is surprisingly limited. In a recent study, Acemoglu and Linn (2004) identified market size as a significant driver of drug innovation in...