Growth and welfare effects of intellectual property rights when consumers differ in income

Kiedaisch, Christian

doi:10.1007/s00199-020-01322-9

Cited by 12 publications

(2 citation statements)

References 48 publications

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“…Given the assumption of homothetic preferences in Chu et al (2021), the aggregate economy continues to be independent of the income distribution. Kiedaisch (2021) extends the R&D‐based growth model in Foellmi and Zweimuller (2006), in which the income distribution affects the aggregate economy due to non‐homothetic preferences of heterogeneous households, to explore the effects of patent protection (taking into account its effects via the income distribution) on economic growth. In summary, he finds that the overall effect of patent protection on economic growth is ambiguous and depends on the underlying income distribution.…”

Section: Patent Policy and Inequalitymentioning

confidence: 99%

Patent policy and economic growth: A survey

Chu¹

2021

The Manchester School

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This survey provides a selective review of the literature on patent policy, innovation and economic growth. The patent system is a useful policy tool for stimulating innovation given its importance on technological progress and economic growth. However, the patent system is a multidimensional system, which features multiple patent policy instruments. In this survey, we review some of the commonly discussed patent policy instruments, such as patent length, patent breadth and blocking patents, and also use a canonical Schumpeterian growth model to demonstrate their different effects on innovation and the macroeconomy.

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Section: Patent Policy and Inequalitymentioning

confidence: 99%

Patent policy and economic growth: A survey

Chu¹

2021

The Manchester School

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“…Iwaisako and Futagami (2013) show that stronger patent protection increases the profit flow obtained by innovation, but reduces capital accumulation, leading to a decrease in economic growth. Kiedaisch (2021) applies a product-variety model to illustrate that an increase in the expected length of intellectual property protection has a positive impact on economic growth and the welfare of rich consumers, but has a negative effect on the welfare of poor consumers.…”

Section: Introductionmentioning

confidence: 99%

Patent protection, externalities, and income inequality

Kao,

Hung

2024

The Manchester School

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This paper develops a Schumpeterian growth model with considering consumption and leisure externalities. The main purpose of this study is to investigate the effect of patent protection policy on growth and inequality, as well as the interaction between policy effect and externalities. According to the log form utility function specification, this means that the elasticity of intertemporal substitution is unity. The following are the key findings of this paper. Patent protection policy encourages innovation and increases employment in the R&D industry, which enhances economic growth while increasing income inequality. In regard to externalities, an increase in the degree of consumption (leisure) externalities results in a higher (lower) growth rate and more (smaller) income inequality. When consumption (leisure) externality is greater intensity, the growth effect of patent protection policy becomes stronger (weaker), while its influence on expanding income inequality lessens (enhances). Finally, both the Pareto optimal patent protection policy and the optimal patent policy under the maximization of social welfare positively correlate with consumption externalities, but negatively correlate with leisure externalities.

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Dynamic effects of patent policy on innovation and inequality in a Schumpeterian economy

et al. 2021

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This study explores the dynamic e¤ects of patent policy on innovation and income inequality in a Schumpeterian growth model with endogenous market structure and heterogeneous households. We …nd that strengthening patent protection has a positive e¤ect on economic growth and a positive or an inverted-U e¤ect on income inequality when the number of di¤erentiated products is …xed in the short run. However, when the number of products adjusts endogenously, the e¤ects of patent protection on growth and inequality become negative in the long run. We also calibrate the model to US data to perform a quantitative analysis and …nd that the long-run negative e¤ect of patent policy on inequality is much larger than its short-run positive e¤ect. This result remains consistent with our empirical …nding from a panel vector autoregression.

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Growth and welfare effects of intellectual property rights when consumers differ in income

Cited by 12 publications

References 48 publications

Patent policy and economic growth: A survey

Patent policy and economic growth: A survey

Patent protection, externalities, and income inequality

Dynamic effects of patent policy on innovation and inequality in a Schumpeterian economy

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