Innovation policy involves trading off monopoly output and pricing in the short run in exchange for incentives for firms to develop new products in the future. While existing research demonstrates that expected profits fuel R&D investments, little is known about the novelty of the projects funded by these investments. Relying on data that describe the scientific approaches used by a large sample of experimental drug projects, we expand on this literature by examining the scientific novelty of pharmaceutical R&D investments following the creation of the Medicare Part D program. We find little evidence that the positive demand shock implied by this program prompted firms to undertake scientifically novel R&D activity, as measured by whether the specific scientific approach had been used before. However, we find some evidence that firms invested in products involving novel combinations of scientific approaches. These estimates can inform economists and policymakers assessing the tradeoffs associated with marginal changes in commercial returns from newly developed pharmaceutical products.

Recent research has highlighted unequal treatment for women in academic economics along several different dimensions, including promotion, hiring, credit for co-authorship, and standards for publication in professional journals. Can the source of these differences lie in biases against women that are pervasive in the discipline, even among students in the earliest stages of their training? In this paper, we provide evidence on the importance of explicit and implicit biases against women among students in economics relative to other fields. We conducted a large scale survey among undergraduate students in Chilean universities, among both entering first-year students and students in years 2 and above. On a wide battery of measures, economics students are more biased than students in other fields. Economics students are somewhat more biased already upon entry, before exposure to any economics classes. The gap is more pronounced among students in years 2 and above, in particular for male students. We also find an increase in bias in a sample of students that we follow longitudinally. Differences in political ideology explain essentially all the gap at entry, but none of the increase in the gap with exposure. Exposure to female students and faculty attenuates some of the bias.

Former Renault-Nissan chairman and CEO Carlos Ghosn fled Japan in a dramatic escape just over a month ago. He is currently the subject of an Interpol search warrant. DER SPIEGEL met him in Beirut for an interview.

Former NFL star Brett Favre said Wednesday he would repay the state of Mississippi $1.1 million after a state auditor discovered the Mississippi Department of Human Services paid the ex-quarterback for speaking engagements that never happened.

Mark Hatten, an ex-boyfriend of deceased model Anna Nicole Smith, was shot and killed Sunday after an incident with another man in South Carolina.

McDonald’s knows exactly where its beef is. The fast food chain’s CEO on Thursday expressed full confidence in the burger joint’s meat supply.

They don’t want people bugging out.

A Southwest jet traveling from Dallas fatally struck a person as it touched down at a Texas airport Thursday night, authorities said.

The semen of men infected with coronavirus revealed that the disease lingered in only a few patients, suggesting there is a small chance COVID-19 can be transmitted sexually, researchers said.

Ohio State University will pay about $41 million to settle a dozen lawsuits by 162 men alleging sexual abuse by a team doctor, Richard Strauss.

A Boeing 737 ran over a man who was on an Austin, TX runway

Electric scooters are coming to New York and, with a little planning and preparation, they can safely thrive here. To understand how, it helps to start with some context.

Last Feb. 14, Gov. Cuomo signed the Child Victims Act into law. He did it in the newsroom of the Daily News, because it was this paper that, over many years, spotlighted the wrenching cases of people abused as children, perversely prevented from seeking justice as adults.

Former NBA guard Shannon Brown was arrested recently after shooting a rifle in a mixup at his home.

The Reserve Roastery Chicago opens Friday, transforming the former Crate & Barrel space into five floors of coffee wonderland.

The Grove Resort and Water Park fishes three-year journey to complete three-building complex's construction.

Over the next 20 years more than a quarter of the nation’s currently owner-occupied homes will be on the market as owners pass on with Orlando being one of the top impacted areas.

Chicago real estate experts bust myths portrayed by home improvement shows, from actors subbing in as buyers to unrealistically low renovation costs.

Racing remains on course to return in France on 11 May despite French prime minister Edouard Philippe announcing on Tuesday that professional sport would not restart before September.

What are the characteristics of workers in jobs likely to be initially affected by broad social distancing and later by narrower policy tailored to jobs with low risk of disease transmission? We use O NET to construct a measure of the likelihood that jobs can be conducted from home (a variant of Dingel and Neiman, 2020) and a measure of low physical proximity to others at work. We validate the measures by showing how they relate to similar measures constructed using time use data from ATUS. Our main finding is that workers in low-work-from-home or high-physical- proximity jobs are more economically vulnerable across various measures constructed from the CPS and PSID: they are less educated, of lower income, have fewer liquid assets relative to income, and are more likely renters. We further substantiate the measures with behavior during the epidemic. First, we show that MSAs with less pre-virus employment in work-from-home jobs experienced smaller declines in the incidence of `staying-at-home', as measured using SafeGraph cell phone data. Second, we show that both occupations and types of workers predicted to be employed in low work-from-home jobs experienced greater declines in employment according to the March 2020 CPS. For example, non-college educated workers experienced a 4ppt larger decline in employment relative to those with a college degree.

We show a causal impact of immigration on innovation and dynamism in US counties. To identify the causal impact of immigration, we use 130 years of detailed data on migrations from foreign countries to US counties to isolate quasi-random variation in the ancestry composition of US counties that results purely from the interaction of two historical forces: (i) changes over time in the relative attractiveness of different destinations within the US to the average migrant arriving at the time and (ii) the staggered timing of the arrival of migrants from different origin countries. We then use this plausibly exogenous variation in ancestry composition to predict the total number of migrants flowing into each US county in recent decades. We show four main results. First, immigration has a positive impact on innovation, measured by the patenting of local firms. Second, immigration has a positive impact on measures of local economic dynamism. Third, the positive impact of immigration on innovation percolates over space, but spatial spillovers quickly die out with distance. Fourth, the impact of immigration on innovation is stronger for more educated migrants.

The 17-year-old victim was entering the bathroom inside the lower level of the library at Kingsborough Community College in Manhattan Beach about 11:35 a.m. Monday when she felt someone coming in behind her, cops said.

Instead of waking up to wish his daughter the best on her 23rd birthday, Collin Dixon got the phone call every parent dreads.

The victim, identified in court papers as “Jane Roe” and now middle-aged, alleges tennis coach William Martire verbally assaulted, groped and forced her give him oral sex.

Garcia Luna, accused of turning a blind eye toward murderous drug overlord Joaquin “El Chapo” Guzman while serving as Mexico’s secretary of public security from 2006-12, arrived in Brooklyn Federal Court with his attorney for a Friday afternoon hearing.

Aaron Weinreb, a 48-year-old OB-GYN, has been in home detention on $1.5 million bail since his arrest in October on charges he used the gay dating app Grindr to connect with an underage boy for sex.Because they’ve found a second victim, prosecutors wantED Weinreb jailed while he awaits trial.

The plaintiff, a former high school cheerleader identified only by the pseudonym “Mary Coe,” was in her first year at the school when defendant William Martire allegedly initially forced her to perform oral sex on him in the early 1980s, according to a horrifying 18-page Brooklyn Supreme Court filing.

Aleksey Tsvetkov, 40, blew up while an Assistant U.S. Attorney recited his criminal history during his sentencing hearing in Brooklyn Federal Court on racketeering charges..

“Those people shot him to kill him. It’s a miracle that my son is alive,” Carmen Cruz said of the Feb. 6 incident in which her son, 26-year-old Erick Diaz-Cruz, was wounded in a confrontation with Immigration and Customs Enforcement agents in Gravesend.

Mervyn Affoon, who taught at the Academy of Hospitality and Tourism at hospitality at Erasmus Hall High School in Flatbush, is accused of sexually abusing the teen about 15 times between March 2017 and June 2017.

A Brooklyn federal magistrate denied Genaro Garcia Luna release from prison due to coronavirus, saying he was a flight risk.

Brooklyn Borough President Eric Adams called Saturday for all New York supermarkets to offer express lane treatment for those heroic New Yorkers on the front lines of the coronavirus pandemic.

Inmates were coughing and sneezing, and guards wore no personal protective equipment, said Hassan Chunn, 46, who fears the disease is spreading through the Metropolitan Detention Center.

“I’m still going through the motions. The wounds are still really fresh,” said Johana Rocio Mendoza Chancay. “But I’m extremely grateful that my baby and I are alive,” she said, breaking down in tears.

Frederick Scheinin, 29, of Sunnyside, Queens, allegedly chatted for months with a federal agent posing as a minor, and now faces charges in Manhattan federal court of attempting to entice a minor and attempting to produce child pornography.

The “community schools” program, which infuses schools with mental health counselors, free vision and dental care, and classes for parents, boosted attendance and on-time graduation rates in participating schools from 2015-2018, according to the report from the research group RAND Corporation.

A fast-growing New York state program that funds math and science teacher salaries at private schools paid out hundreds of thousands of dollars to some of the city’s priciest private schools that can charge over $50,000 a year for tuition, the Daily News has learned.

The plaintiff, a former high school cheerleader identified only by the pseudonym “Mary Coe,” was in her first year at the school when defendant William Martire allegedly initially forced her to perform oral sex on him in the early 1980s, according to a horrifying 18-page Brooklyn Supreme Court filing.