We investigate whether physicians' financial incentives influence health care supply,
technology diffusion, and resulting patient outcomes. In 1997, Medicare consolidated the …

We analyze Medicare's influence on private insurers' payments for physicians' services.
Using a large administrative change in reimbursements for surgical versus medical care, we …

Economists think of medical innovation as a valuable but risky good, producing health
benefits but increasing financial risk for consumers and healthcare payers. This perspective …

Abstract The coronavirus disease 2019 (COVID-19) pandemic highlights the importance of
strong and resilient health systems. Yet how much a society should spend on healthcare is …

Some technologies save lives—new vaccines, new surgical techniques, safer highways.
Others threaten lives—pollution, nuclear accidents, global warming, and the rapid global …

The strong observable correlation between health and economic growth is crucial for
economic development and sustained well-being, but the underlying causality and …

This paper investigates the effects of crop insurance on agricultural innovation (namely,
drought-tolerant traits) in the context of climate change. A conceptual framework is …

This paper studies how insurance coverage policies impact pharmaceutical innovation. In
the United States, most patients obtain prescription drugs through insurance plans …

We show that the demand shocks associated with the US Civil War and World War I led to
substantial increases in prosthetic device patenting (relative to patenting in other medical …

Why have health care costs moderated in the last decade? Some have suggested the Great
Recession alone was the cause, but health expenditure growth in the depths of the …