Bartelsman, Eric J.; Dobbelaere, Sabien; Zona Mattioli, … - 2026
This paper develops a micro-founded framework linking price-cost and wage markups to intangible assets. Intangible … environment generates hold-up in intangible asset creation and motivates rent sharing. Under non-compete agreements, poached … wage markups in more intangible-intensive firms and lower wages for workers with non-compete agreements, consistent with …