BUY, KEEP, OR SELL: ECONOMIC GROWTH AND THE MARKET FOR IDEAS

被引：70

作者：

Akcigit, Ufuk ^{[1
,2
]}

Celik, Murat Alp ^{[3
]}

Greenwood, Jeremy ^{[2
,4
]}

机构：

[1] Univ Chicago, Dept Econ, 1126 E 59th St, Chicago, IL 60637 USA

[2] NBER, Cambridge, MA 02138 USA

[3] Univ Toronto, Dept Econ, 150 St George St, Toronto, ON M5S 3G7, Canada

[4] Univ Penn, Dept Econ, 3718 Locust Walk, Philadelphia, PA 19104 USA

来源：

ECONOMETRICA | 2016年 / 84卷 / 03期

基金：

美国国家科学基金会;

关键词：

Growth; ideas; innovation; misallocation; patents; patent agents; research and development; search frictions; technological propinquity; LIFE;

D O I：

10.3982/ECTA12144

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on the technological propinquity between an idea and the firm's line of business. Ideas can be bought and sold on a market for patents. A firm can sell an idea that is not relevant to its business or buy one if it fails to innovate. The developed model is matched up with stylized facts about the market for patents in the United States. The analysis gauges how efficiency in the patent market affects growth.

引用

页码：943 / 984

页数：42