UM
WELFARE EFFECTS of PATENT PROTECTION in A GROWTH MODEL with R&D and CAPITAL ACCUMULATION
Yang,Yibai
2019-05-26
Source PublicationMacroeconomic Dynamics
ISSN14698056 13651005
AbstractThis study explores the welfare effects of patent protection in a Romer-type expanding variety model in which R&D and capital accumulation are both engines of growth. It shows that the comparison between the productivity of R&D and that of capital plays an important role in the welfare analysis. When the relative productivity of R&D compared to capital is high (low), social welfare takes an inverted-U shape for (is decreasing in) the strength of patent protection, and the welfare-maximizing degree of patent protection is no greater than (identical to) the growth-maximizing degree. Moreover, the model is calibrated to the US economy and the numerical results support these welfare implications.
KeywordCapital Accumulation Economic Growth Patent Protection R&D
DOI10.1017/S1365100519000233
URLView the original
Language英语
Fulltext Access
Citation statistics
Document TypeJournal article
CollectionUniversity of Macau
Corresponding AuthorYang,Yibai
AffiliationHumanities and Social Sciences BuildingDepartment of EconomicsUniversity of Macau,Taipa, Macao,China
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Yang,Yibai. WELFARE EFFECTS of PATENT PROTECTION in A GROWTH MODEL with R&D and CAPITAL ACCUMULATION[J]. Macroeconomic Dynamics,2019.
APA Yang,Yibai.(2019).WELFARE EFFECTS of PATENT PROTECTION in A GROWTH MODEL with R&D and CAPITAL ACCUMULATION.Macroeconomic Dynamics.
MLA Yang,Yibai."WELFARE EFFECTS of PATENT PROTECTION in A GROWTH MODEL with R&D and CAPITAL ACCUMULATION".Macroeconomic Dynamics (2019).
Related Services
Recommend this item
Bookmark
Usage statistics
Export to Endnote
Google Scholar
Similar articles in Google Scholar
[Yang,Yibai]'s Articles
Baidu academic
Similar articles in Baidu academic
[Yang,Yibai]'s Articles
Bing Scholar
Similar articles in Bing Scholar
[Yang,Yibai]'s Articles
Terms of Use
No data!
Social Bookmark/Share
All comments (0)
No comment.
 

Items in the repository are protected by copyright, with all rights reserved, unless otherwise indicated.