A dynamic general equilibrium model of larceny – or property crime – is presented in which both economic conditions and government policies affect the commission calculus. The model provides a behavioral framework that is used to estimate the effects of government policies on the commission...

This paper illustrates two reasonable political decision mechanisms by which fiscal policy generates endogenous growth under a constant returns to scale production technology, absent externalities. Based on the dynamics induced by various policy choices, we demonstrate that policies that...

Recent biomedical research shows that roughly three-quarters of cognitive abilities are attributable to genetics and family environment. This paper presents a theory of growth in which human capital is determined by inheritable factors and family size. The distribution of income is shown to...

The transition to market-oriented economies in Central and Eastern Europe and the former Soviet Union in the 1990s, like the Great Depression in the U.S. and Germany in the 1930s, generated sharp declines in real incomes and a corresponding drop in fertility. This is contrary to the robust...

Like nature itself, modern economic life is driven by relentless competition and unbridled selfishness. Or is it? Drawing on converging evidence from neuroscience, social science, biology, law, and philosophy, <i>Moral Markets</i> makes the case that modern market exchange works only because most...

This essay uses a political economy model to study the relationship between urbanisation and demographic change in China. The model identifies political stability and government capacity as two crucial factors that shape family decisions regarding the number of children. As population growth and...

A formal dynamic theory of the transition from a developing autocracy to democracy is presented in the context of a heterogeneous agent general equilibrium growth model. The theory shows that the primary determinants affecting the timing of democratic transitions are per capita income, the...

Under the direction of Nobel laureate Robert A. Mundell and Paul J. Zak, eminent contributors to Monetary Stability and Economic Growth offer a unique insight into the way that economists analyse the causes of money (mis) management in the US, Latin America, Europe and Japan, and prescribe...

This fascinating book, a dialogue by leading economists, offers an extensive review of the impact of the introduction of the euro on the international monetary system.