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Upstream innovation protection: common law evolution and the dynamics of wage inequality

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  • Cozzi, Guido
  • Galli, Silvia

Abstract

The incentives to conduct basic or applied research play a central role for economic growth, and this question has not been explored in much detail so far. How does increasing early innovation appropriability affect basic research, applied research, education, and wage inequality? In the US, what does the common law system imply on the macroeconomic responses to institutional change? This paper analyzes the macroeconomic effects of patent protection by incorporating a two-stage cumulative innovation structure into a quality-ladder growth model with skill acquisition. We consider three issues (a) the over-protection vs. the under-protection of intellectual property rights; (b) the evolution of jurisprudence shaping the bargaining power of the upstream innovators; and (c) the implications of strengthening patent protection on wage inequality and growth. We show analytically and numerically how the jurisprudential changes in intellectual property rights witnessed in the US after 1980 can be related to the well-known changes in wage inequality and in education attainments. Basic research patents may have grown disproportionately due increasing jurisdictional protection, eventually compromising applied innovation, education, and growth. By simulations, we show that the dynamic general equilibrium interations may mislead the econometric assessment of the temporary vs persistent effects IPR policy.

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  • Cozzi, Guido & Galli, Silvia, 2011. "Upstream innovation protection: common law evolution and the dynamics of wage inequality," MPRA Paper 31902, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:31902
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    Cited by:

    1. Chu, Angus C. & Furukawa, Yuichi, 2011. "Growth and Welfare Effects of Patentability and Knowledge Spillovers of Basic R&D," MPRA Paper 27813, University Library of Munich, Germany.
    2. Davis, Lewis S. & Şener, Fuat, 2012. "Private patent protection in the theory of Schumpeterian growth," European Economic Review, Elsevier, vol. 56(7), pages 1446-1460.
    3. Shiyuan Pan & Heng-fu Zou & Tailong Li, 2010. "Patent Protection, Technological Change and Wage Inequality," CEMA Working Papers 437, China Economics and Management Academy, Central University of Finance and Economics.
    4. Chu, Angus C. & Cozzi, Guido & Galli, Silvia, 2012. "Does intellectual monopoly stimulate or stifle innovation?," European Economic Review, Elsevier, vol. 56(4), pages 727-746.
    5. Swati Saini & Meeta Mehra, 2018. "Impact of strengthening Intellectual Property Rights Regime on income inequality: An Econometric Analysis," Economics Bulletin, AccessEcon, vol. 38(4), pages 1703-1719.
    6. Gersbach, Hans & Sorger, Gerhard & Amon, Christian, 2018. "Hierarchical growth: Basic and applied research," Journal of Economic Dynamics and Control, Elsevier, vol. 90(C), pages 434-459.
    7. Pan, Shiyuan & Zhang, Mengbo & Zou, Heng-Fu, 2018. "Status Preference And The Effects Of Patent Protection: Theory And Evidence," Macroeconomic Dynamics, Cambridge University Press, vol. 22(4), pages 837-863, June.
    8. Hans Gersbach & Maik Schneider & Olivier Schneller, 2013. "Basic research, openness, and convergence," Journal of Economic Growth, Springer, vol. 18(1), pages 33-68, March.
    9. Maggie Xiaoyang Chen & Murat Iyigun, 2011. "Patent Protection and Strategic Delays in Technology Development: Implications for Economic Growth," Southern Economic Journal, John Wiley & Sons, vol. 78(1), pages 211-232, July.
    10. Gersbach, Hans & Schneider, Maik T., 2015. "On the global supply of basic research," Journal of Monetary Economics, Elsevier, vol. 75(C), pages 123-137.
    11. Angus C. Chu, 2009. "Macroeconomic Effects of Intellectual Property Rights: A Survey," IEAS Working Paper : academic research 09-A007, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    12. Shiyuan Pan & Mengbo Zhang & Heng-fu Zou, 2013. "The Effects of Patent Protection: A Growth Model with Status Preference," CEMA Working Papers 574, China Economics and Management Academy, Central University of Finance and Economics.
    13. Shiyuan Pan & Tailong Li & Heng-fu Zou, 2012. "Patent Protection, Technological Change and Wage Inequality: Theory," CEMA Working Papers 537, China Economics and Management Academy, Central University of Finance and Economics.
    14. Spinesi Luca, 2011. "Probabilistic Heterogeneous Patent Protection and Innovation Incentives," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-44, August.
    15. Angus C. Chu & Yuichi Furukawa, 2013. "Patentability and Knowledge Spillovers of Basic R&D," Southern Economic Journal, John Wiley & Sons, vol. 79(4), pages 928-945, April.

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    More about this item

    Keywords

    Basic and Applied R&D; Two-Stage Sequential Innovation; Skill Premium; Inequality and Education; Common Law.;
    All these keywords.

    JEL classification:

    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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