This review surveys recent research on the economics of patents. The topics covered
include theoretical and empirical evidence on patents as incentives for innovation, the …

The nonrivalry of ideas gives rise to increasing returns, a fact celebrated in Paul Romer's
recent Nobel Prize. An implication is that the long-run rate of economic growth is the product …

This paper develops a model based on Schumpeter's process of creative destruction. It
departs from existing models of endogenous growth in emphasizing obsolescence of old …

Growth in this model is driven by technological change that arises from intentional
investment decisions made by profit-maximizing agents. The distinguishing feature of the …

Grossman and Helpman develop a unique approach in which innovation is viewed as a
deliberate outgrowth of investments in industrial research by forward-looking, profit-seeking …

This paper describes two strands of work that converged under the heading of 'endogenous
growth.'One strand, which is primarily empirical, asks whether there is a general tendency …

We develop a model of repeated product improvements in a continuum of sectors. Each
product follows a stochastic progression up a quality ladder. Progress is not uniform across …

Trade is a cornerstone concept in economics worldwide. This updated second edition of the
essential graduate textbook in international trade brings readers to the forefront of …

A comprehensive, rigorous, and up-to-date introduction to growth economics that presents
all the major growth paradigms and shows how they can be used to analyze the growth …

This paper argues that the" scale effects" prediction of many recent R & D-based models of
growth is inconsistent with the time-series evidence from industrialized economies. A …