This paper offers an explanation for some evidence that intergenerational earnings mobility is higher in more developed economies and that mobility is positively correlated with wage equality. In the model mobility promotes economic growth via its effect on the accumulation and allocation of...

This paper develops a theory of fertility that offers an explanation for the persistence of poverty within and across countries. If educated individuals have a comparative advantage in raising educated children then parental fertility choice is shown to give rise to a poverty trap, in which the...

This essay suggests that the convergence controversy may reflect, in part, differences in perception regarding the viable set of competing testable hypotheses generated by existing growth theories. It argues that, in contrast to the prevailing wisdom, the traditional neoclassical growth paradigm...