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The Effects of Patent Protection: A Growth Model with Status Preference

Shiyuan Pan, Mengbo Zhang and Heng-Fu Zou ()
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Shiyuan Pan: Center for Research of Private Economy and School of Economics, Zhejiang University
Mengbo Zhang: School of Economics, Zhejiang University

No 574, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

Abstract: We build a growth model with status preference to explore the effects of patent protection on innovation, inequality and social welfare. The main results are as follows. There is a non-monotonic relationship between patent protection and innovation. In addition, the effect of patent protection on social welfare is non-monotonic when the strength of status preference is small, whereas patent protection lowers social welfare when the strength of status preference is large. Finally, strengthening patent protection enlarges wealth inequality when agents have different time and status preferences.

Keywords: Patent Protection; Status Preference; Innovation; Inequality; Social Welfare (search for similar items in EconPapers)
JEL-codes: O31 O34 O40 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2013
New Economics Papers: this item is included in nep-ino, nep-ipr and nep-pr~
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