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Discussion Paper Details

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Title: Patents in a Model of Endogenous Growth

Author(s): Edward O'Donoghue and Josef Zweimüller

Publication Date: August 1998

Keyword(s): Innovation, intellectual property, patent design and patent policy

Programme Area(s): Industrial Organization

Abstract: This paper examines patent protection in an endogenous-growth model. Our aim is two-fold. First, we show how the patent policies discussed by the recent patent-design literature can influence R&D in the endogenous-growth framework, where the role of patents has been largely ignored. Second, we explore how the general-equilibrium framework contributes to the results of the patent-design literature. In a general-equilibrium model, both incentives to innovate and monopoly distortions depend on the proportion of industries that conduct R&D. Furthermore, patents affect the allocation of R&D resources across industries, and patents can distort resources away from industries where they are most productive.

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Bibliographic Reference

O'Donoghue, E and Zweimüller, J. 1998. 'Patents in a Model of Endogenous Growth'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1951