A Generalized Quality-Ladder Growth Model with Patent Breadth: Quantifying the Effects of Blocking P
2007/10/30
研討會日期 : 2007-10-30
時間 : 15:00
主講人 : Prof. Angus C. Chu
地點 : B棟110室
演講者簡介 : Prof. Angus C. Chu為 Ph D. Candidate in Economics，University of Michigan（June 2008 expected）。
其主要研究領域為Macroeconomics、Economic Growth、Political Economics、Behavioral Economics。
現正申請本所研究職務中。
演講摘要 : This paper develops a general equilibrium endogenous growth model with sequential innovations and patent pools to characterize and quantitatively evaluate the inefficiency created by the patent system. The analysis focuses on two policy variables: (a) patent breadth that determines the total profit received by a patent pool; and (b) the profit-sharing rule that determines the distribution of surplus between innovators. To capture the dynamic distortionary effects of patent policy on saving and investment, the model features physical capital. To quantify the extents of underinvestment in R&D and inefficiencies arising from blocking patents and other externalities, the model is calibrated to the aggregate data. This numerical exercise suggests the following findings. Firstly, the market economy underinvests in R&D. Secondly, eliminating blocking patents increases R&D by about two to six times and hence is an effective solution to the problem of R&D underinvestment. Finally, the effects of eliminating blocking patents on consumption in the long run and during the transition dynamics are considered.
