We solve an optimal land sale problem for a mayor who sells public land and uses the land sale revenue to finance infrastructure. Over an infinite horizon the mayor chooses land sale and infrastructure in each period to maximize the market value of the city net of the spending on infrastructure....

This article questions current empirical practice in the study of growth. It argues that much of the modern empirical growth literature is based on assumptions about regressors, residuals, and parameters that are implausible from the perspective of both economic theory and the historical...

This article questions current empirical practice in the study of growth. It argues that much of the modern empirical growth literature is based on assumptions about regressors, residuals, and parameters that are implausible from the perspective of both economic theory and the historical...