This paper considers the prospect of a government patent buyout in a model of endogenous growth. To this end, the … shows that in this set-up, patent buyout by the government can lead to higher level of welfare without lowering an economy …

We present a selective survey of the economic theory of intellectual property rights. After a brief description of the … intellectual property right design. We derive conclusions in the simplest, one-time innovation, case then investigate how these … optimal procurement of innovation are considered. Finally, we sketch enforcement and competition policy issues. …

This paper provides a first comprehensive quantitative analysis of optimal patent policy in the global economy. We … introduce a new framework, which combines trade and growth theory into a tractable tool for quantitative research. Our … application delivers three main results. First, the potential gains from international cooperation over patent policies are large …