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Program Directors

Nicolas Bloom Profile.jpg

Nicholas A. Bloom is a Professor in the Department of Economics at Stanford University and a Senior Fellow of the Stanford Institute for Economic Policy Research. His research focuses on measuring and explaining management practices and their consequences across a wide range of firms and countries. He has been an NBER affiliate since 2006.


Josh Lerner is the Jacob H. Schiff Professor of Investment Banking at the Harvard Business School. His research focuses on venture capital, private equity, and the determinants of innovation and productivity growth. He has been an NBER affiliate since 1999.

Featured Program Content

Monetary Policy, Interest Rates, and Innovation Spending
  • Article
Analyzing monetary policy shifts over the 1969 to 2007 period, Yueran Ma and Kaspar Zimmermann find that a 1 percent increase in...
Estimating Consumer Welfare Gains from Free Online Services Figure
  • Article
Over the last decade, digital products such as Google, WhatsApp, and Facebook have proliferated. In the US and UK, for example, people now spend an...
Article The Role of Mega Firms in Patenting and Follow-On Innovation figure 31460
  • Article
“Mega firms,” defined as the 50 publicly traded firms in the US with the highest annual sales, hold a disproportionate share of novel patents and may play...
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