Autori
Privileggi, FabioMarchese, CarlaTitolo
Endogenous Economic Growth with Disembodied KnowledgePeriodico
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper seriesAnno:
2015 - Volume:
6 - Fascicolo:
25 - Pagina iniziale:
1 - Pagina finale:
14Mainstream endogenous growth models assume that new knowledge is embodied into new intermediate or final
goods, monopolistically supplied by the patent holder. Recent technological progress, however, often gives rise to
pure intellectual contents, such as software codes or business models, directly usable in the production of final
goods. Once a content of this type has been produced, it is in fixed supply, that is, the inventor can only
rent it out (or sell it) or not; hence the quantity restriction typical of monopoly cannot arise, while competition
is viable (Chantrel et al., 2012; Marchese and Privileggi, 2014).
We show that, however, as long as the inventor owning a patent can control through license activation devices the
access to the intellectual content of the workers using her invention in the final goods production, monopolistic
exploitation becomes viable and will occur.
It turns out that in this framework both the level of wages and of consumption and the rate of growth of the economy are
smaller than in the first best, while with elastic labor supply also labor employment is negatively impacted. This
implies that some standard public policies devised for correcting ineciencies in development can perform poorly in
this framework.
Testo completo:
http://www.est.unito.it/do/home.pl/Download?doc=/allegati/wp2015dip/wp_25_2015.pdfEsportazione dati in Refworks (solo per utenti abilitati)
Record salvabile in Zotero