| 000 -LEADER |
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| fixed length control field |
01462nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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221214b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Crouzet, Nicolas et al |
| 245 ## - TITLE STATEMENT |
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| Title |
The economics of intangible capital |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
The Journal of: Economic Perspectives |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
36(3), Summer, 2022: p.29-52 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
Intangible assets are a large and growing part of firms' capital stocks. Intangibles are accumulated via investment--foregoing consumption today for output in the future—but they lack a physical presence. Rather than stopping with this "lack," we instead focus on the positive properties of intangibles. Specifically, intangibles must be stored, so characteristics of the storage medium have important implications for their value and use. These properties include non-rivalry, allowing the intangible to be used simultaneously in different production streams, and limited excludability, which prevents the firm from capturing all the benefits or rents from the intangible. We develop these ideas in a simple way to illustrate how outcomes such as scalability and distribution of ownership follow. We discuss how intangibles can help to understand important trends in macroeconomics and finance, including productivity, factor shares, inequality, investment and valuation, rents and market power, and firm financing. – Reproduced |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
The Journal of: Economic Perspectives |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
ECONOMICS |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
