Similar Search Results

From China with love: Effects of the Chinese economy on skill-biased technical change in the US

Chu, Angus C.; Cozzi, Guido; Furukawa, Yuichi - Volkswirtschaftliche Fakultät, … - 2012

In this study, we analyze the effects of labor shortage in China on the direction of innovation in the US by …-biased technical change. Therefore, rapid capital accumulation and labor shortage in China could lead to a rising skill premium in the … US. Calibrating the model to China-US data, we �find that a 1% decrease in unskilled labor (1% increase in capital) in …

Persistent link: https://www.econbiz.de/10011259099

Patents versus R&D subsidies in a Schumpeterian growth model with endogenous market structure

Chu, Angus C.; Furukawa, Yuichi - Volkswirtschaftliche Fakultät, … - 2012

In this note, we explore the different implications of patent breadth and R&D subsidies on economic growth and endogenous market structure in a Schumpeterian growth model. We find that these two policy instruments have the same positive effect on economic growth when the model exhibits...

Persistent link: https://www.econbiz.de/10011261186

Search and endogenous growth: when Romer meets Lagos and Wright

Chu, Angus C.; Lai, Ching-Chong; Liao, Chih-Hsing - Volkswirtschaftliche Fakultät, … - 2012

In this note, we develop a search-based monetary growth model to analyze the growth and welfare effects of inflation. We introduce endogenous growth via capital externality into a two-sector search model and compare the effects of inflation to those from a standard cash-in-advance (CIA) growth...

Persistent link: https://www.econbiz.de/10009650014

Macroeconomic Effects of Intellectual Property Rights: A Survey

Chu, Angus C. - Volkswirtschaftliche Fakultät, … - 2009

This paper provides a survey on studies that analyze the macroeconomic effects of intellectual property rights (IPR). The first part of this paper introduces different patent-policy instruments and reviews their effects on R&D and economic growth. This part also discusses the distortionary...

Persistent link: https://www.econbiz.de/10008528740

The welfare cost of one-size-fit-all patent protection

Chu, Angus C. - Volkswirtschaftliche Fakultät, … - 2009

To analyze the welfare gain from allowing for differentiated patent protection across sectors, this study develops a two-sector quality-ladder growth model in which patent breadth is a policy variable and derives the optimal patent breadth under two policy regimes. We show that (i) the optimal...

Persistent link: https://www.econbiz.de/10008530716

Defense R&D: Effects on Economic Growth and Social Welfare

Chu, Angus C.; Lai, Ching-Chong - Volkswirtschaftliche Fakultät, … - 2009

In the US, defense R&D share of GDP has decreased significantly since 1960. To analyze the implications on economic growth and welfare, we develop an R&D-based growth model that features the commonly discussed crowding-out and spillover effects of defense R&D on civilian R&D. The model also...

Persistent link: https://www.econbiz.de/10005011952

A tale of two growth engines: The interactive effects of monetary policy and intellectual property rights

Chu, Angus C.; Lai, Ching-Chong; Liao, Chih-Hsing - Volkswirtschaftliche Fakultät, … - 2010

How do intellectual property rights that determine the market power of firms influence the effects of monetary policy on economic growth and social welfare? To analyze this question, we develop a monetary R&D-based growth model with elastic labor supply. We find that monetary expansion reduces...

Persistent link: https://www.econbiz.de/10008919789

The Escape-Infringement Effect of Blocking Patents on Innovation and Economic Growth

Chu, Angus C.; Pan, Shiyuan - Volkswirtschaftliche Fakultät, … - 2010

This study develops a Schumpeterian growth model to analyze the effects of different patent instruments on innovation. We first analyze patent breadth that captures the traditional positive effect of patent rights on innovation. Then, we consider a profit-division rule between entrants and...

Persistent link: https://www.econbiz.de/10008753085

Growth and Welfare Effects of Patentability and Knowledge Spillovers of Basic R&D

Chu, Angus C.; Furukawa, Yuichi - Volkswirtschaftliche Fakultät, … - 2011

This study develops an R&D-based growth model with basic and applied research to analyze the growth and welfare effects of two patent instruments (a) the patentability of basic R&D and (b) the division of profi�t between basic and applied researchers. We �find that for the purpose of...

Persistent link: https://www.econbiz.de/10008784625

Innovating like China: a theory of stage-dependent intellectual property rights

Chu, Angus C.; Cozzi, Guido; Galli, Silvia - Volkswirtschaftliche Fakultät, … - 2011

Inspired by the Chinese experience, we develop a Schumpeterian growth model of distance to frontier in which economic growth in the developing country is driven by domestic innovation as well as imitation and transfer of foreign technologies through foreign direct investment. We show that...

Persistent link: https://www.econbiz.de/10009004147