When policymakers and private agents use models, the economists who design the model have an incentive to alter it in order to influence outcomes in a fashion consistent with their own preferences. I discuss some consequences of the existence of such ideological bias. In particular, I analyze...

At the 2016 Academy of Management Conference, a group of distinguished compensation researchers held a panel discussion on the future of compensation research. Their remarks were compiled into an article published in this issue. Soon after the panel, Charles Fay commissioned a similar discussion...

This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...

Channeling human resources into the right occupations has historically been a key to economic prosperity. Occupational choices are not only driven by the material rewards associated with the various occupations, but also by the esteem that they confer. We propose a model of endogenous growth in...

This paper provides an overview of the state of the art of the intersection of development economics and entrepreneurship. Given the relative neglect of entrepreneurship by development scholars it deals with (i) recent theoretical insights from the intersection of entrepreneurship and...

This paper develops a model in which the interaction of entrepreneurial investments and power of the owners of land or other natural resources determines structural change and economic development. A more equal distribution of natural resources promotes structural change and growth through two...

Empirical research on the determinants of international migration including the LDCs has so far neglected one important issue: the complex relationship of development and migration. Since the beginning of the 1990s several arguments have been discussed which hint at the possibility that progress...

In the centuries leading up to the Industrial Revolution, Western Europe gradually pulled ahead of other world regions in terms of technological creativity, population growth, and income per capita. We argue that superior institutions for the creation and dissemination of productive knowledge...

International migration is a selective process that induces ambiguous effects on human capital and economic development in countries of origin. We establish the theoretical micro-foundations of the relationship between selective emigration and human capital accumulation in a multi-country...