This paper offers a thesis for why the US overtook the UK and other European countries in the 20th century in both aggregate and per capita GDP as a case study of recent models of endogenous growth, where "human capital" is the engine of growth. By human capital we mean an intangible asset, best...

We model investment in entrepreneurial human capital (EHC) – the representative enterprise's share of production capacity allocated to investment in innovative industrial and commercial knowledge – as a distinct channel through which firm-specific human capital drives endogenous growth. Our...

Leamer presents a scathing critique of classical sensitivity analysis concerning regression specification. The argument is that the classical approach lacks a systematic way to determine what explanatory variables truly belong in the regression when there is uncertainty about proper model...

There appears to be significant diversity in the incidence of bureaucratic corruption across countries at different stages of economic development and under different political and economic regimes. Little theoretical or empirical analysis has been offered, however, on the link between...

We trace the impact of pay-as-you-go (PAYG) social security taxes on demographic and economic trends through an endogenous-growth model where human capital is the engine of growth, family choices affect its formation in children, and family formation itself is a choice variable. We show that...

A theory of participation in illegitimate activities is developed and tested against data on variations in index crimes across states in the United States. Theorems and behavioral implications are derived using the state preference approach to behavior under uncertainty. The investigation deals...