One of the key recommendations of the Second Panel on Cost-Effectiveness in Health and Medicine is to take a societal perspective when evaluating new technologies—including measuring the productivity benefits of [...]
Whatever one’s opinion of the federal and state government response to the COVID-19 pandemic, the virus and associated “shelter at home” orders clearly had a devastating impact on the U.S. [...]
Maintaining sufficient liquidity in the financial system is vital for its stability. However, since returns on liquid assets are typically low, individual financial institutions may seek to hold fewer such [...]
As digital networks emerge as the dominant means of distributing copyrighted works, the first sale doctrine is increasingly marginalized. The limitations first sale places on the exclusive right of distribution [...]
We study mortgage design features aimed at stabilizing the macroeconomy. We model overlapping generations of mortgage borrowers and an infinitely lived risk-averse representative mortgage lender. Mortgages are priced using an [...]
This chapter explores the interplay of intellectual property and social justice. Part I constructs a philosophical framework for thinking about the many cross-currents between intellectual property and social justice. Part [...]
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 [...]
This paper examines the tech cluster phenomenon by considering three partially answered questions. We first ask how to define a tech cluster—that is, what properties are required to be a [...]
The widespread economic damage caused by the ongoing COVID-19 pandemic poses the first major test of the bank regulatory reforms put in place following the global financial crisis. This study [...]
Countries are using macroprudential tools more actively with the goal of improving the resilience of their broader financial systems. A growing body of evidence suggests that these tools can accomplish [...]