University Funding Systems and their Impact on Research and Teaching: A General Framework

This paper addresses the following question: how does a higher education funding system influence the trade-off that universities make between research and teaching? The authors construct a general model that allows universities to choose actively the quality of their teaching and research when faced with different funding systems.

Pro-cyclical R&D Puzzle: Technology Shocks and Pro-cyclical R&D Expenditure

The paper examines the cyclical property of R&D expenditure in the context of endogenous growth, and concludes that substitutability between investing in physical capital and investing in technology/knowledge is a key of the cyclical property of R&D; basically technology shocks accompany counter-cyclical R&D and demand shocks accompany pro-cyclical R&D; and the easiest way to solve the pro-cyclical R&D puzzle is to abandon the conjecture that business cycles are generated mainly by technology shocks.

Early Academis Science and the Birth of Industrial Research Laboratories in the U.S. Pharmaceutical Industry

In this paper, the authors investigate the rise of industrial research laboratories in the U.S. pharmaceutical industry between 1927 and 1946. Evidence suggests that institutional factors, namely the presence of universities dedicated to research, played a significant role in the establishment and diffusion of private pharmaceutical research laboratories.

Should Research Universities be Led by Top Researchers? Part 1: Are they?

If the best universities in the world – who have the widest choice of candidates – systematically appoint top researchers as their vice chancellors and presidents, is this one form of evidence that, on average, better researchers make better leaders? This paper addresses the first part of the question: are they currently appointing distinguished researchers? The study documents a positive correlation between the lifetime citations of a university’s president and the position of that university in a world ranking.

Overseas R&D Activities by Multinational Enterprises: Evidence from Japanese Firm-Level Data

This paper investigates both the determinants and the impact of overseas subsidiaries R&D activities, using firm-level panel data for Japanese multinational enterprises. The evidence suggests that overseas innovative R&D aims at the exploitation of foreign advanced knowledge, and by doing so, it helps to raise the productivity of the parent firm.

Economics of Scientific Research Coalitions: Collaborative Network Formation in the Presence of Multiple Funding Agencies

The paper develops a formal model of coalition-building (“network” formation) among research units that seek competitive funding from a supra-regional program, while also drawing support from their respective regional funding agencies.