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General purpose technologies like IT and AI typically require complementary investments in firm-specific human and organizational capital to create value for firms. However, good measures of the stock of this IT intangible capital (ITIC) have remained elusive, as has an understanding of how the...
Persistent link: https://www.econbiz.de/10012867066
Formal standards codify knowledge. Next to patents representing the generation of innovative knowledge, standards can hence be used to proxy the diffusion of innovative knowledge in macroeconomic growth models. Previous work mainly investigates the positive impact of in particular patents, but...
Persistent link: https://www.econbiz.de/10014501758
In this note, we analyze the effects of intellectual property rights on the volatility of economic growth. Our analysis is motivated by the observation that the strengthening of patent protection and the increase in R&D in the US coincide with a reduction in growth volatility beginning in the...
Persistent link: https://www.econbiz.de/10011258055
In this paper, we develop a general equilibrium endogenous growth model that emphasizes the IPR enforcement effects on growth, in a scenario of north–south technological knowledge diffusion. The economy consists of three sectors, and firms are engaged in step-by-step innovation. In line with...
Persistent link: https://www.econbiz.de/10011048714
In this note, we analyze the effects of intellectual property rights on the volatility of economic growth. Our analysis is motivated by the observation that the strengthening of patent protection and the increase in R&D in the US coincide with a reduction in growth volatility beginning in the...
Persistent link: https://www.econbiz.de/10010595236
In a world where poor countries provide weak protection for intellectual property rights, market integration shifts technical change in favor of rich nations. Through this channel, free trade may amplify international income differences. At the same time, integration with countries where...
Persistent link: https://www.econbiz.de/10010547312
We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are adapted to be produced using unskilled labor. Our...
Persistent link: https://www.econbiz.de/10014195649
innovation. In primis, the paper shows, through economic history, that democratization is an antecedent process (cause) to technological and economic change (effect). In particular, the primary finding is that democratization is a driving force for technological change: most free...
Persistent link: https://www.econbiz.de/10014137171
This paper explores the theoretical channels by which financial crises might have an impact on long-run growth. By exploiting occasionally binding financial constraints, we produce a model that generates endogenous crisis episodes featuring permanent falls in productivity, without generating...
Persistent link: https://www.econbiz.de/10012956677
R&D investment are an important engine of growth and development. Yet economists have often claimed under-investment, also due to the asymmetric information between inside investors and outside investors and financiers, and the consequent capital and financial market imperfections. Some recent...
Persistent link: https://www.econbiz.de/10012919304