Domestic institutions can have profound effects on international trade. This chapter reviews
the theoretical and empirical underpinnings of this insight. Particular attention is paid to …

A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–
winning economist. The top 1 percent of Americans control 40 percent of the nation's wealth …

In this paper we revisit the relationship between democracy, redistribution, and inequality.
We first explain the theoretical reasons why democracy is expected to increase redistribution …

A few centuries ago, capitalism set in motion an explosion of economic productivity. Markets
and private property had existed for millennia, but what other key institutions fostered …

Abstract Thomas Piketty's (2013) book, Capital in the 21st Century, follows in the tradition of
the great classical economists, like Marx and Ricardo, in formulating general laws of …

When jobs offered by different employers are not perfect substitutes, employers gain wage-
setting power; the extent of this power can be captured by the elasticity of labor supply to the …

Abstract In the American South, postbellum economic development may have been
restricted in part by white landowners' access to low-wage black labor. This paper examines …

The majority of labor transactions throughout much of history and a significant fraction of
such transactions in many developing countries today are “coercive,” in the sense that force …

I discuss the role of economic theory in empirical work in development economics with
special emphasis on general equilibrium and political economy considerations. I argue that …

Using data from the Survey of Income and Program Participation, the author examines the
effect of noncompete enforceability on employee training and wages. An increase from no …