報告題目：Welfare Effects of Patent Protection in a Growth Model with R&Dand Capital Accumulation
報 告 人：楊毅柏（澳門大學 助理教授）
時 間：2018年1月19日（周五）下午 14:30-16:00
語 言：中文 + 英文
This study explores the welfare effects of patent protection in a Romer-type expanding variety model in which R&D and capital accumulation are both engines of growth. It shows that the comparison between the productivity of R&D and that of capital plays an important role in the welfare analysis. When the relative productivity of R&D compared to capital is high (low), social welfare takes an inverted-U shape for (is decreasing in) the strength of patent protection, and the welfare-maximizing degree of patent protection is no greater than (identical to) the growth-maximizing degree. Moreover, the model is calibrated to the US economy and the numerical results support these welfare implications.