Upcoming Event - Ina Ganguli (University of Massachusetts Amherst) seminar on 20 May
Ina Ganguli (University of Massachusetts Amherst) at the Seminar series - Department of Economic Policy – Università Cattolica del Sacro Cuore
On 20 May, a seminar with Ina Ganguli (University of Massachusetts Amherst) will take place at Università Cattolica del Sacro Cuore.
“Helium Price Shocks, Procurement Contracts, and Scientific Production” (with Raviv Murciano-Goroff)
This paper estimates the elasticity of demand for material inputs in the scientific production function. Using administrative data from the accounting records of thousands of labs at U.S. research universities, we exploit exogenous price shocks in helium, a specialty gas critical across many scientific fields, arising from university procurement contract renegotiations and force majeure adjustments. In an event study difference-in-differences framework, we find that helium price increases cause scientists to reduce gas usage, modestly reallocate toward non-gas inputs, and reduce labor. Overall scientific output falls, with a pronounced decline in helium-dependent research. These results imply that input price shocks slow and redirect the course of science, pointing to a need for insurance mechanisms or greater budget flexibility among universities and research funders.
For any additional information: dip.politicaeconomica@unicatt.it
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