This paper examines the determinants of M&A activity in the pharmaceutical-biotechnology industry and the effects of mergers using propensity scores to control for merger endogeneity. Among large firms, we find [...]
In the United States, state level boards dictate rules for physician licensure and discipline. Would-be physicians must complete an approved medical training program and pass a standardized test. Scope of-practice [...]
This report analyzes the old proposed General Plan Update and the Economic Impact Analysis (EIA) conducted by Applied Development Economics, Inc. We find that the economic analysis for the county [...]
Urban containment and state‐imposed mandatory housing elements in comprehensive land use plans attempt to reshape development patterns. Urban containment programs reign in the outward expansion of urban areas by restricting [...]
Fannie Mae and Freddie Mac are a unique part of [federal housing policy]. Though they appear to be “normal” corporations, each with shares that trade on the New York Stock [...]
This paper analyzes the effect of regulation governing land use and residential construction upon the course of housing prices in California. We explore the linkage between regulation and housing prices [...]
Since 1950, housing prices have risen regularly by almost two percent per year. Between 1950 and 1970, this increase reflects rising housing quality and construction costs. Since 1970, this increase [...]
Both the Federation [of State Medical Boards] and the American Medical Association offer guidelines on how to deal with ethical behavior issues, but no one entity oversees or mandates how [...]
With an ideology of setting up a socialist market economy with China’s characteristics, land as one of the important factors of production has been in great need of institutional mechanism [...]
This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is developed in which competition may increase the incremental profit from innovating; on the other [...]