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Patents in a Model of Endogenous Growth

Author

Listed:
  • O'Donoghue, Ted

    (Department of Economics, Cornell University)

  • Zweimüller, Josef

    (University of Zurich and Centre of Economic Policy Research)

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.

Suggested Citation

  • O'Donoghue, Ted & Zweimüller, Josef, 1998. "Patents in a Model of Endogenous Growth," Economics Series 56, Institute for Advanced Studies.
  • Handle: RePEc:ihs:ihsesp:56
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    File URL: http://www.ihs.ac.at/publications/eco/es-56.pdf
    File Function: First version, 1998
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    Keywords

    Innovation; Patent Policy; Intellectual Property; Patent; Design;

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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