This staff report describes the actions of Celgene Corporation and Bristol Myers Squibb Company in repeatedly raising the price of Revlimid, a critical drug to treat multiple myeloma and other [...]
The pace of gentrification has accelerated in cities across the country since 2000, and many observers fear it is displacing low-income populations from their homes and communities. We offer new [...]
Patent law’s doctrine of ineligible subject matter is widely agreed to be in a bad state of repair. Even those welcoming the Supreme Court’s return to express subject-matter bars have [...]
Big Pharma’s innovation argument just does not stand up to scrutiny. We can’t allow drug corporations to continue to hide behind their threat that if we do anything to curb [...]
Liquidity provision is a bet against private information: if private information turns out to be higher than expected, liquidity providers lose. Since information generates volatility, and volatility co-moves across assets, [...]
We provide evidence that credit lines offer liquidity insurance to borrowers. Borrowers are able to extensively use their credit lines in recessions and ahead of credit line cuts. In fact [...]
The thoughts and behaviors of financial market participants depend upon adopted cultural traits, including information signals, beliefs, strategies, and folk economic models. Financial traits compete to survive in the human [...]
Whether behavior relating to a patent thicket presents an antitrust issue is a nuanced question. But a recent ruling involving the biologic Humira shows how not to decide these issues. [...]
Using a new equity price-based measure of the global financial cycle, this paper evaluates the relative importance of global financial shocks for quarterly equity returns and output growths in a [...]
This chapter is from the edited volume "Injunctions in Patent Law: A Trans-Atlantic Dialogue on Flexibility and Tailoring" (Jorge Contreras & Martin Husovec, eds., Cambridge Univ. Press, forthcoming). It offers [...]