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The Welfare Effects of Economic Integration when Products are Patented

This paper presents a model of economic growth where products are invented and patented, and where production involves fixed costs at the location of the plant. The model is used to assess the effects of instantaneous integration of a small, autarkic country into a larger economy on a) consumer welfare and b) the distribution of income. Consumer welfare in the small country rises immediately because of newly available products. Additionally, the welfare of all consumers rises due to economies of scale at the firm level. These latter benefits are gradually replaced by benefits stemming from newly invented products. The distribution of income changes due to a) the asymmetric distribution of patent ownership and b) changes in the ratio’s of skilled to unskilled workers.

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File URL: http://degit.sam.sdu.dk/papers/degit_09/C009_024.pdf
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Paper provided by DEGIT, Dynamics, Economic Growth, and International Trade in its series DEGIT Conference Papers with number c009_024.

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Length: 20 pages
Date of creation: Jun 2004
Date of revision:
Handle: RePEc:deg:conpap:c009_024
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  1. Paul M. Romer, 1993. "New Goods, Old Theory, and the Welfare Costs of Trade Restrictions," NBER Working Papers 4452, National Bureau of Economic Research, Inc.
  2. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
  3. Peretto, Pietro F., 2000. "Endogenous market structure and the growth and welfare effects of economic integration," Working Papers 00-14, Duke University, Department of Economics.
  4. Helpman, Elhanan & Grossman, Gene M., 1989. "Product Development and International Trade," Scholarly Articles 3445094, Harvard University Department of Economics.
  5. Brunner, Martin & Strulik, Holger, 2002. "Solution of perfect foresight saddlepoint problems: a simple method and applications," Journal of Economic Dynamics and Control, Elsevier, vol. 26(5), pages 737-753, May.
  6. Krugman, Paul R., 1979. "Increasing returns, monopolistic competition, and international trade," Journal of International Economics, Elsevier, vol. 9(4), pages 469-479, November.
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