Economic volatility varies substantially across democracies. We study how the difference between federal and unitary systems of government can contribute to these variations. We show empirically that a higher degree of federalism is associated with less volatility in both economic growth and...

We analyze the economic growth related effects of learning by doing in a region that is creative in the sense of Richard Florida. Firms in this region use physical and creative capital to produce output. We model learning by doing and our analysis of the working of this creative region leads to...

We study aspects of economic growth in a region that is creative a la Richard Florida. Members of the creative class possess creative capital and they fall into one of two possible groups---they are either artists or engineers. We describe the optimal income redistribution rule that maximizes...