This study develops an R&D-based growth model with vertical and horizontal innovation to shed some light on the current … decreases economic growth but increases social welfare due to an increase in horizontal innovation. In light of this finding, we … debate on whether patent protection stimulates or stifles innovation. We analyze the effects of patent protection in the form …

This study develops an R&D-based growth model that features both vertical and horizontal innovation to shed some light … on the current debate on whether patent protection stimulates or stifles innovation. Specifically, we analyze the growth … ladder. We show that patent protection has asymmetric effects on vertical innovation (i.e., quality improvement) and …

opportunity cost of cash holdings leads to a decrease in innovation and economic growth, which in turn decreases labor …This study analyzes the effects of inflation on the long-run nexus between unemployment and economic growth. We … introduce money demand via a cash-in-advance (CIA) constraint on R&D investment into a scale-invariant Schumpeterian growth …

In this study, we analyze the effects of labor shortage in China on the direction of innovation in the US by … change in the North. This fi�nding highlights the different implications of offshoring and conventional trade on innovation …

growth in the developing country is driven by domestic innovation as well as imitation and transfer of foreign technologies …Inspired by the Chinese experience, we develop a Schumpeterian growth model of distance to frontier in which economic … implements strong IPR protection to encourage domestic innovation. Finally, we provide empirical evidence that supports this …

How does patent policy affect long-run economic growth through the population growth rate? To analyze this question, we … develop an R&D-based growth model with endogenous fertility. In recent vintages of R&D-based growth models in which scale … effects are absent, the long-run growth rate depends on the population growth rate that is assumed to be exogenous. In this …

This study analyzes the growth and welfare effects of monetary policy in a two-country Schumpeterian growth model with … rate decreases domestic R&D investment and the growth rate of domestic technology. Given that economic growth in a country … growth in the domestic economy. When each government conducts its monetary policy unilaterally to maximize the welfare of …

the effects of monetary policy on economic growth and social welfare in a Schumpeterian model with cash-in-advance (CIA … consumption and R&D (manufacturing), an increase in the nominal interest rate would decrease (increase) R&D and economic growth … interest rate would have an overall negative effect on R&D and economic growth as documented in recent empirical studies. We …

This study analyzes the cross-country effects of monetary policy on innovation and international technology transfer … transfer, a permanent increase in the North-South wage gap, and a temporary decrease in the rate of Northern innovation. An … increase in the Northern nominal interest rate causes a temporary decrease in the rate of Northern innovation, a permanent …

implications on innovation. First, it reduces the rates of innovation and economic growth. Second, it causes innovation to be … which the market size of each country determines the incentives for innovation. We find that an increase in the bargaining …