Intangible Capital, Non-rivalry, and Growth

We provide an answer to why growth may slow even in the face of technological improvements. Our focus is on the role of intangible assets. Intangible assets are distinct from physical capital in that they are comprised by information that requires a storage medium.

Wer

Nicolas Crouzet (Northwestern University)

Wo

IWH, conference room, Leipziger Straße 100 and via Zoom

Zur Person

Nicolas Crouzet is Associate Professor of Finance at Northwestern University.

A reduction in replication costs for intangible assets enables them to be less rivalrous in use, stimulating growth. However, we show how limits to excludability create a countervailing force. Depending on the strength of property-rights institutions, growth may slow even as technology lowers replication costs for intangibles, enhances their non-rivalry, and creates economies of scale and scope. Read more ...

To join the lecture via ZOOM, please contact Shasha Li.