Cultural Preference On Fertility And The Long-run Growth Effects Of Intellectual Property Rights
How does patent policy affect long-run economic growth through the population growth rate? To analyze this question, the authors develop an R&D-based growth model with endogenous fertility. In recent vintages of R&D-based growth models in which scale effects are absent, the long-run growth rate depends on the population growth rate that is assumed to be exogenous. In this paper, they develop a semi-endogenous-growth version of the quality-ladder model with endogenous fertility and human-capital accumulation to analyze an unexplored interaction between intellectual property rights, endogenous fertility and economic growth.