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About the Author(s)

Sabrina Howell is an associate professor of finance at New York University’s Stern School of Business and a research associate at the NBER affiliated with the Productivity, Innovation, and Entrepreneurship Program. Her research focuses on entrepreneurial finance, innovation, private equity, fintech, and China.

A theme throughout Howell’s work is a focus on analysis that is relevant for policymakers and practitioners. She is the author of articles published in journals such as The Quarterly Journal of Economics, American Economic Review, and The Journal of Finance. Howell received her BA from Yale University in 2008 and her PhD from Harvard University in 2015. In between, she worked as an energy consultant for Charles River Associates in Houston, and on energy security policy for the nonprofit, nonpartisan organization Securing America’s Future Energy, in Washington DC. She is a recipient of the AQR Top Finance Graduate Award at Copenhagen Business School, the National Science Foundation Graduate Research Fellowship, the Kauffman Foundation Junior Faculty Fellowship, and the AQR Asset Management Institute Young Researcher Award.


1. Financing Innovation: Evidence from R&D Grants,” Howell S. American Economic Review 107(4), April 2017, pp. 1136–1164.   Go to ⤴︎
2. Opening Up Military Innovation: Causal Effects of Reforms to US Defense Research,” Howell S, Rathje J, Van Reenen J, Wong J. NBER Working Paper 28700, July 2022.   Go to ⤴︎
3. The Color of Money: Federal vs. Industry Funding of University Research,” Babina T, He A, Howell S, Perlman R, Staudt J. NBER Working Paper 28160, December 2020. Forthcoming in The Quarterly Journal of Economics as “Cutting the Innovation Engine: How Federal Funding Shocks Affect University Patenting, Entrepreneurship, and Publications.”   Go to ⤴︎
4. Investor Tax Credits and Entrepreneurship: Evidence from US States,” Denes M, Howell S, Mezzanotti F, Wang X, Xu T. NBER Working Paper 27751, October 2021. Forthcoming in Journal of Finance.     Go to ⤴︎
5. Do Cash Windfalls Affect Wages? Evidence from R&D Grants to Small Firms,” Howell S, Brown J. NBER Working Paper 26717, January 2020, and The Review of Financial Studies, October 2022.   Go to ⤴︎

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