A Tale of Two Growth Engines: Interactive Effects of Monetary Policy and Intellectual Property Rights

How do intellectual property rights that determine the market power of firms influence the growth and welfare effects of monetary policy? To analyze this question, we develop a monetary hybrid endogenous growth model in which R&D and capital accumulation are both engines of long-run economic gro...

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Veröffentlicht in:	Journal of money, credit and banking credit and banking, 2019-10, Vol.51 (7), p.2029-2052
Hauptverfasser:	CHU, ANGUS C., LAI, CHING-CHONG, LIAO, CHIH-HSING
Format:	Artikel
Sprache:	eng
Schlagworte:	Accumulation Capital formation Companies E41 Economic growth Economic models Endogenous Engines Growth models Inflation Intellectual property Monetary policy O30 O40 patent policy Power Property rights R&D Research & development Social welfare
Online-Zugang:	Volltext
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