Intangible Assets and Imperfections in Product and Labor Markets
Eric Bartelsman, Sabien Dobbelaere, Alessandro Zona Mattioli
IWH Discussion Papers,
No. 5,
2026
Abstract
This paper develops a micro-founded framework linking price-cost and wage markups to intangible assets. Intangible assets, once created, are a source of firm rents. Owing to limits to enforceable ownership and the non-rival nature of knowledge, these rents can be both retained by the origin firm and transferred to a competitor through poaching of workers. Search and matching frictions affect labor mobility and result in bargaining over rents between the firm and the worker. This environment generates hold-up in intangible asset creation and motivates rent sharing. Under non-compete agreements, poached workers face start delays that weaken outside options. Using microdata from the Netherlands, we document higher price-cost and wage markups in more intangible-intensive firms and lower wages for workers with non-compete agreements, consistent with the model.
Read article
Output
ProdTool Common Report Project Report and Replication Code To support evidence-based policymaking and foster transparency in economic research, the key analytical findings and…
See page
IWH-CompNet 5th FINPRO
IWH-CompNet 5th Finance and Productivity Conference 24-25 April, 2026 - Tokyo, Japan The IWH-CompNet 5th Finance and Productivity Conference (FINPRO5), held on 24–25 April 2026 at…
See page
Research Articles
Research Articles Explore cutting-edge research based on CompNet’s micro-aggregated firm-level data and related analytical tools. These articles cover empirical and theoretical…
See page
IWH-CompNet 1st ProdTool Workshop
IWH-CompNet 1st ProdTool Workshop 26-27 February, 2026 - Vienna, Austria The IWH-CompNet 1st ProdTool Workshop (26–27 February 2026, Vienna) successfully brought together experts,…
See page
14th CompNet Annual Conference
14th CompNet Annual Conference 25-26 September, 2025 in Vilnius, Lithuania Programme Highlights – 14th CompNet Annual Conference, Vilnius, 25–26 September 2025 The conference…
See page
Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one of the four research departments (Financial Markets – Laws, Regulations and Factor Markets –…
See page
6th CompNet Annual Conference
Innovation, firm size, productivity and imbalances in the age of de-globalization 6 th CompNet Annual Conference, June 29-30, 2017, European Commission, Brussels, Belgium As the…
See page
13 CompNet Annual Conference
13th CompNet Annual Conference The 13th Annual Conference in Valletta, hosted by the Central Bank of Malta, was a resounding success. We extend our heartfelt thanks to everyone…
See page
Workshop on Firm Dynamism in Japan
Workshop on Firm Dynamism in Japan 12 May 2025 Tokyo This international workshop was held at Gakushuin University and supported by KAKENHI grant 25K05112, and brought together…
See page
