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SUMMARY:Research Seminar - From Labor to Intermediates: Firm Growth\, Input Substitution\, and Monopsony
DESCRIPTION:The Growth Lab’s Research Seminar series is a weekly seminar that brings together researchers from across the academic spectrum who share an interest in growth and development. 	Speaker: Matthias Mertens\, postdoctoral associate at MIT FutureTech 	Whether attending in person or virtually\, please register in advance. 	Paper Abstract: (Matthias Mertens with Benjamin Schoefer from UC Berkeley) We document and dissect a new stylized fact about firm growth: the shift from labor to intermediate inputs. This shift occurs in input quantities\, cost and output shares\, and output elasticities. We establish this regularity in firm data for Germany and in firm (and industry) data for 11 (21) additional countries. We explain this regularity through a parsimonious model featuring an elasticity of substitution between intermediates and labor above one\, and an increasing shadow price of labor (monopsony or adjustment costs). Labor-intermediates substitution also accounts for much of the labor share decline that we document accompanies firm and industry growth. \nAbout the Speaker: Matthias is a postdoctoral associate at MIT FutureTech. His primary focus includes analyzing firm productivity\, production technologies\, and market power. He completed his Ph.D. at the Halle Institute for Economic Research in collaboration with the Otto-von-Guericke University in Magdeburg. Prior to joining MIT\, Matthias led the Research Group at the Halle Institute for Economic Research and coordinated the Scientific Team at the Competitiveness Research Network\, where he oversaw the data collection team responsible for constructing the CompNet database for several years.
URL:https://growthlab.hks.harvard.edu/event/research-seminar-from-labor-to-intermediates-firm-growth-input-substitution-and-monopsony/
LOCATION:HYBRID Perkins Rubenstein 429 / Zoom
CATEGORIES:Academic Research Seminars,Growth Lab
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DTSTART;TZID=America/New_York:20250226T233000
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SUMMARY:Research Seminar: Trade\, Innovation and Optimal Patent Protection
DESCRIPTION:The Growth Lab’s Research Seminar series is a weekly seminar that brings together researchers from across the academic spectrum who share an interest in growth and development. 	Speaker: Thomas Sampson\, Associate Professor of Economics at the London School of Economics 	Whether attending in person or virtually\, please register in advance.  	Paper Abstract: Intellectual property rights are a recurrent source of tensions between developed and developing economies. This paper provides the first quantitative analysis of optimal patent policy in trading economies. We develop a new model of trade\, growth and patenting in which patent protection affects both innovation and market power. The model is estimated using data on patent applications to calibrate patent protection by country and the geography of innovation. Counterfactual analysis yields three main results. First\, the potential gains from international cooperation over patent policies are large. However\, achieving these gains requires more innovative economies to offer stronger protection. Second\, only a small share of these gains has been realized so far. And third\, by pushing towards policy harmonization\, the TRIPS agreement hurts developing countries without generating global welfare gains. Overall\, there is substantial scope for policy reforms to increase efficiency. 	Link to the paper: 	https://personal.lse.ac.uk/sampsont/TradePatents.pdf 	  	About the Speaker: Thomas Sampson is an Associate Professor of Economics at the London School of Economics\, where he has taught since 2011. He earned his PhD from Harvard University\, focusing on international trade and labor. Prior to his current role\, he served as a consultant for organizations such as the Bank of England\, the World Bank\, and the Bank of Papua New Guinea. His research explores questions at the intersection of trade policy\, economic growth\, and innovation\, including the impact of Brexit on the UK economy. Thomas is a Research Fellow at the Centre for Economic Policy Research and an Associate at the Centre for Economic Performance.
URL:https://growthlab.hks.harvard.edu/event/research-seminar-trade-innovation-and-optimal-patent-protection/
LOCATION:HYBRID Perkins Rubenstein 429 / Zoom
CATEGORIES:Academic Research Seminars
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