Can Medical Progress be Sustained? Implications of the Link Between Development and Output Markets
---- Acknowledgements -----
We thank Gary Becker, Tatyana Deryugina, Einer Elhauge, Jose Fernandez, Dana Goldman, Eric Helland, William Hubbard, Darius Lakdawalla, Richard Miller, Kevin Murphy, Julian Reif, Seth Seabury, Neeraj Sood, Tony Tse, Heidi Williams; workshop and conference participants at the University of Southern California, University of Chicago, Harvard Law School, NBER Summer Institute, the Association Lecture at The Southern Economic Association, and HEC Montreal for helpful comments; and Ilya Beylin, Mete Karakaya, Nate Reid, and Christopher Whaley for research assistance. Malani acknowledges financial support from the Samuel J. Kersten Faculty Fund at the University of Chicago Law School and Philipson acknowledges support from the Biotechnology Industry Organization and the George Stigler Center for the Study of the Economy and the State at the University of Chicago. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.