|Comment on "Eliminating the Pass-Through: Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries"|
in The Challenges of Globalization in the Measurement of National Accounts, Nadim Ahmad, Brent Moulton, J. David Richardson, and Peter van de Ven, editors
|The Impact of Information Technology on the Diffusion of New Pharmaceuticals|
with , : w23257
Do information differences across U.S. physicians contribute to treatment disparities? This paper uses a unique new dataset to evaluate how changes in physician access to a decision-relevant drug database affect prescribing decisions. Our results indicate that doctors using the reference have a significantly greater propensity to prescribe generic drugs, are faster to begin prescribing new generics, and prescribe a more diverse set of products. Notably, physicians using the reference database are not faster to prescribe new branded drugs. Given that a new generic drug resembles its branded equivalent clinically, these results are consistent with database users responding primarily to the increased accessibility of non-clinical information such as drug price and insurance formulary data; th...
Published: Kenneth J. Arrow & L. Kamran Bilir & Alan Sorensen, 2020. "The Impact of Information Technology on the Diffusion of New Pharmaceuticals," American Economic Journal: Applied Economics, vol 12(3), pages 1-39.
|Innovation in the Global Firm|
with : w22160
How global are the gains from innovation? When firms operate production plants in multiple countries, technological improvements developed in one location may be shared with foreign sites for efficiency gain. We develop a model that accounts for such transfer, and apply it to measure private returns to R&D investment for a panel of U.S. multinationals during 1989-2008. Our estimates indicate that innovation increases performance at firm locations beyond the innovating site: the median U.S. multinational firm realizes abroad 20 percent of the return to its U.S. R&D investment, suggesting estimates based only on domestic operations understate multinationals' gain from innovation, and revealing a spatial disconnect between the costs and potential gains of policies that encourage multinational...
Published: L. Kamran Bilir & Eduardo Morales, 2020. "Innovation in the Global Firm," Journal of Political Economy, vol 128(4), pages 1566-1625.
|Host-Country Financial Development and Multinational Activity|
with , : w20046
This paper evaluates the influence of host-country financial conditions on the global operations of multinational firms. Using detailed U.S. data, we establish that financial development in a country is associated with relatively more entry by multinational affiliates, as well as with higher aggregate affiliate sales to the local market, back to the U.S. and to third destinations, with these effects being more pronounced in financially more vulnerable sectors. At the level of individual affiliates, by contrast, these forces are associated with relatively lower local sales and higher return and third-country sales. Yet at both aggregate and affiliate levels, the share of local sales in total sales is smaller, while the shares of U.S. and third-country sales are both bigger. These empirical ...
Published: L. Kamran Bilir & Davin Chor & Kalina Manova, 2019. "Host-Country Financial Development and Multinational Activity," European Economic Review, . citation courtesy of