Marvin Goodfriend Memorial Lecture: Hugo Hopenhayn

On May 11, 2023, Hugo Hopenhayn delivered the inaugural Marvin Goodfriend Memorial Lecture with a presentation of his paper "Knowledge Creation and Diffusion with Limited Appropriation,” which was co-authored with Liyan Shi. The paper highlights how intellectual property rights must trade off incentives for innovation and knowledge diffusion and considers the optimal assignment of property rights as a Ramsey problem in a dynamic model where knowledge diffusion takes place under random-matching. Hopenhayn is a professor of economics at UCLA, Guggenheim Fellow and long-term Richmond Fed research consultant.
Introduced in 2023, the Goodfriend Memorial Lecture series honors the legacy of Marvin Goodfriend, long-time Richmond Fed economist, research director and senior policy advisor. The Lecture was delivered as part of the Richmond Fed's Collaboration of Research Economists (CORE) Week model, which brings together Richmond Fed economists and visiting economists from a range of disciplines for seminars, conferences, networking and collaboration.
Visit RichmondFed.org to learn more about the Goodfriend Memorial Lecture and the CORE Week model.