Patents in a Model of Endogenous Growth

Ted O'Donoghue and Josef Zweimüller ()

No 1951, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper examines patent protection in an endogenous-growth model. Our aim is two-fold. 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.

Keywords: Innovation; intellectual property; patent design; patent policy (search for similar items in EconPapers)
JEL-codes: O31 O34 O38 (search for similar items in EconPapers)
Date: 1998-08
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Patents in a Model of Endogenous Growth (2004)
Working Paper: Patents in a Model of Endogenous Growth (1998)
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