A dynamic macroeconomic model is used to analyze the interaction between economic growth, labor demand and crime. Due to endogenous crime, the model exhibits increasing returns to aggregate capital at certain development levels. At other development levels, however, there are decreasing returns...

Why was the Black Death followed by the decline of serfdom in Western Europe but its' intensification in Eastern Europe? What explains why involvement in Atlantic trade in the Early Modern period was positively correlated with economic growth in Britain but negatively correlated in Spain? Why...

China's growth is characterized by massive capital accumulation, made possible by high and increasing domestic savings. In this paper we develop a model with the aim of explaining why savings rates have been high and increasing, and we investigate the general equilibrium effects on capital...