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Intangible assets and imperfections in product and labor markets

Eric J. Bartelsman et al.

European Economic Review2026https://doi.org/10.1016/j.euroecorev.2026.105309article
AJG 3ABDC A*
Weight
0.50

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.

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https://doi.org/https://doi.org/10.1016/j.euroecorev.2026.105309

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@article{eric2026,
  title        = {{Intangible assets and imperfections in product and labor markets}},
  author       = {Eric J. Bartelsman et al.},
  journal      = {European Economic Review},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1016/j.euroecorev.2026.105309},
}

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Intangible assets and imperfections in product and labor markets

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.