Patents in a Model of Endogenous Growth

O'donoghue, Ted and Zweimüller, Josef (September 1998) Patents in a Model of Endogenous Growth. Former Series > Working Paper Series > IHS Economics Series 56


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Abstract: This paper examines patent protection in an endogenous-growth model. Our aim is twofold. First, we show how the patent policies discussed by the recent patent-design literature can influence R&D in the endogenous-growth framework, where the role of patents has been largely ignored. Second, we explore how the general-equilibrium framework contributes to the results of the patent-design literature. In a general-equilibrium model, both incentives to innovate and monopoly distortions depend on the proportion of industries that conduct R&D. Furthermore, patents affect the allocation of R&D resources across industries, and patents can distort resources away from industries where they are most productive.;

Item Type: IHS Series
Keywords: 'Innovation' 'Patent Policy' 'Intellectual Property' 'Patent Design'
Classification Codes (e.g. JEL): O31, O34, O38
Date Deposited: 26 Sep 2014 10:36
Last Modified: 27 Sep 2019 06:17

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