New NBER Research
24 August 2017
During the 2008 financial crisis, private equity-backed companies increased investment relative to their peers and experienced greater equity and debt inflows, according to a study by Shai Bernstein, Josh Lerner, and Filippo Mezzanotti. Those companies also experienced increased market share.
23 August 2017
Passage of the Waxman-Hatch Act in 1984 stimulated vigorous generic drug entry and price competition in the U.S. However, a study by Ernst R. Berndt, Rena M. Conti, and Stephen J. Murphy finds evidence of decreasing numbers of suppliers and increasing prices, particularly following implementation of the Affordable Care Act in 2010 and the Generic Drug User Fee Amendments of 2012.
22 August 2017
The opening of new interstate highways raised demand for hotels along highway routes and increased hotel employment, Thomas N. Hubbard and Michael J. Mazzeo find. Greater demand was also associated with a decline in the number of hotel firms in warm places, where outdoor amenities were more valued by consumers and firms competed on this dimension of product quality.
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China's WTO Entry Lowered Manufactured Goods