Rigorous nonpartisan research on the effects of economic forces and
public policy on entrepreneurship and innovation. Entrepreneurship
and innovation are widely recognized as drivers of economic
dynamics and long-term prosperity. This series communicates key
findings about the implications of entrepreneurial and innovative
activity across the economy. In the first paper, Joseph Barberio,
Jacob Becraft, Zied Ben Chaouch, Dimitris Bertsimas, Tasuku Kitada,
Michael Li, Andrew Lo, Kevin Shi, and Qingyang Xu explore
pharmaceutical firms’ weak incentives to develop vaccines against
prospective diseases—due to high investment risks, low expected
returns, and the rarity of pandemics— and consider a portfolio
approach to financing vaccine research. Next, Daniel Hemel and Lisa
Larrimore Ouellette describe a “trilemma” between quality,
price, and access that appears after a generic pharmaceuticals
patent expires, and show that it is difficult in a regulatory
context to achieve distinct goals around price, access, and quality
simultaneously. In the third paper, Silvia Dalla Fontana and Ramana
Nanda examine the role of patents in the transition to a
carbon-free world. They find relative to other technological areas,
“Net Zero patents” are close to the scientific frontier, but
due to difficulties of commercializing inventions, the share of
such patents that are venture-backed has been increasingly directed
to areas outside clean tech and other “deep” technologies.
Jacquelyn Pless examines the effects of divestment from firms in
“dirty” industries on innovation to combat climate change, or
“green innovation.” She finds that compared with divesting,
investing in firms and engaging with green corporate governance
practices may induce more green innovation. Next, Robert Fairlie
and David Robinson find that Black-owned innovative-intensive new
businesses start smaller than their peers and do not converge in
size over time. Differential access to bank financing is a major
factor. Also “soft information,” which can help new businesses
without established track records, can increase barriers for black
founders and limit entrepreneurial pathways to prosperity. Finally,
Jonathan Gruber, Simon Johnson, and Enrico Moretti consider the
regional concentration of innovative activity in the United States.
They find that while the concentration of activity has net
advantages today, understanding the long-term benefits of more
diffuse innovation clusters —including equity, industrial
diversification, and talent development—is important.
General
| Imprint: |
University of Chicago Press
|
| Country of origin: |
United States |
| Series: |
NBER-Entrepreneurship and Innovation Policy and the Economy |
| Release date: |
June 2023 |
| Firstpublished: |
2023 |
| Editors: |
Benjamin F Jones
• Josh Lerner
|
| Dimensions: |
229 x 152 x 13mm (L x W x T) |
| Format: |
Paperback
|
| Pages: |
175 |
| ISBN-13: |
978-0-226-82829-9 |
| Categories: |
Books
|
| LSN: |
0-226-82829-8 |
| Barcode: |
9780226828299 |
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