Pre-crisis estimates of the jumbo-conforming spread, utilizing a variety of methodologies, ranged from 10 to 25 basis points. In the post-crisis period, this spread has decreased and has been negative [...]
In four cases handed down between 2010 and 2014, the Supreme Court articulated a new two-step patent eligibility test that drastically reduced the scope of patent protection for software inventions. [...]
In most contexts, making up data is forbidden - considered fraudulent, even immoral. Not so in patents. Patents often contain experimental data, and it is perfectly acceptable for these experiments [...]
This paper exploits variation in the adoption of copyright laws – due to idiosyncratic variation in the timing of Napoléon’s military victories – to investigate the causal effects of copyright [...]
We propose a contingent clawback bond (COCLA) as an alternative source of contingent convertible capital (CoCo). We develop a utility maximization model in which a bank manager faces the following [...]
Over the last decade, macroprudential policy has made important advances and become more widely used. We have a better understanding of its goals and tools, and are accumulating evidence that [...]
This article deals with a period of transition for most patent systems in Europe and North America, from instruments of royal prerogative power to specialized and statute-based weapons of capitalist [...]
This paper describes the results of an inquiry into appropriability conditions in more than one hundred manufacturing industries. We discuss how this information has been and might be used to [...]
A defining feature of modern economic growth is the systematic application of science to advance technology. However, despite sustained progress in scientific knowledge, recent productivity growth in the U.S. has [...]
American technological creativity is geographically concentrated in areas that are generally distant from the country’s most persistent pockets of joblessness. Could a more even spatial distribution of innovation reduce American [...]