Details about Michael Darby

E-mail:
Homepage:	http://www.nber.org/vitae/vita150.htm
Phone:	310-825-4180
Postal address:	Warren C. Cordner Professor of Money & Financial Markets, John E. Anderson Graduate School of Management, UCLA Box 951481, Los Angeles, CA 90095-1481
Workplace:	Anderson Graduate School of Management, University of California-Los Angeles (UCLA), (more information at EDIRC) Department of Economics, University of California-Los Angeles (UCLA), (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC) School of Public Affairs, University of California-Los Angeles (UCLA), (more information at EDIRC)

Access statistics for papers by Michael Darby.

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Working Papers

2007

1. Star Scientists, Innovation and Regional and National Immigration
   NBER Working Papers, National Bureau of Economic Research, Inc View citations

2006

2. Innovation, Competition and Welfare-Enhancing Monopoly
   NBER Working Papers, National Bureau of Economic Research, Inc
3. Minerva Unbound: Knowledge Stocks, Knowledge Flows and New Knowledge Production
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
   See also Journal Article in Research Policy (2007)
4. Movement of Star Scientists and Engineers and High-Tech Firm Entry
   NBER Working Papers, National Bureau of Economic Research, Inc View citations

2005

5. Socio-economic Impact of Nanoscale Science: Initial Results and NanoBank
   NBER Working Papers, National Bureau of Economic Research, Inc View citations

2003

6. Grilichesian Breakthroughs: Inventions of Methods of Inventing and Firm Entry in Nanotechnology
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
7. Measuring Success of Advanced Technology Program Participation Using Archival Data
   NBER Working Papers, National Bureau of Economic Research, Inc
8. Universities, Joint Ventures, and Success in the Advanced Technology Program
   NBER Working Papers, National Bureau of Economic Research, Inc View citations

2002

9. Going Public When You Can in Biotechnology
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
10. Growing by Leaps and Inches: Creative Destruction, Real Cost Reduction, and Inching Up
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Economic Inquiry (2003)

2001

11. Commercializing Knowledge: University Science, Knowledge Capture, and Firm Performance in Biotechnology
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Proceedings (2003)

1999

12. Intellectual Capital and the Birth of U.S. Biotechnology Enterprises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
13. Intellectual Capital and the Firm: The Technology of Geographically Localized Knowledge Spillovers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
14. Local Academic Science Driving Organizational Change: The Adoption of Biotechnology by Japanese Firms
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
15. Present at the Revolution: Transformation of Technical Identity for a Large Incumbent Pharmaceutical Firm After the Biotechnological Breakthrough
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
16. Stakes and Stars: The Effect of Intellectual Human Capital on the Level and Variability of High-Tech Firms' Market Values
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1998

17. Capturing Technological Opportunity via Japan's Star Scientists: Evidence from Japanese Firms' Biotech Patents and Products
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in The Journal of Technology Transfer (2001)
18. Fundamentals or Population Dynamics and the Geographic Distribution of U.S. Biotechnology Enterprises, 1976-1989
    NBER Working Papers, National Bureau of Economic Research, Inc

1997

19. Chinese Rural Industrial Productivity and Urban Spillovers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
20. Labor Mobility from Academe to Commerce
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Labor Economics (2002)

1996

21. Costly Information in Firm Transformation, Exit, or Persistent Failure
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
22. Star Scientists, Institutions, and the Entry of Japanese Biotechnology Enterprises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1995

23. Collaboration Structure and Information Dilemmas in Biotechnology: Organizational Boundaries as Trust Production
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Institute for Social Science Research, Working Paper Series, Institute for Social Science Research, UCLA (1994)
24. Social Construction of Trust to Protect Ideas and Data in Space Science and Geophysics
    NBER Working Papers, National Bureau of Economic Research, Inc
25. Virtuous Circles of Productivity: Star Bioscientists and the Institutional Transformation of Industry
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1994

26. Inter-Institutional Spillover Effects in the Commercialization of Bioscience
    Institute for Social Science Research, Working Paper Series, Institute for Social Science Research, UCLA
27. Over-the-Counter Derivatives and Systemic Risk to the Global Financial System
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
28. The Organization of Biotechnology Science and Its Commercialization in Japan
    Institute for Social Science Research, Working Paper Series, Institute for Social Science Research, UCLA View citations

1987

29. The Internationalization of American Banking and Finance: Structure, Risk, adn World Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1985) View citations
    See also Journal Article in Journal of International Money and Finance (1986)

1986

30. Economic Events and Keynesian Ideas: The 1930s and the 1970s
    NBER Working Papers, National Bureau of Economic Research, Inc
31. The Ins and Outs of Unemployment: The Ins Win
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1986) View citations

1985

32. Monetary Policy in the Large Open Economy
    NBER Working Papers, National Bureau of Economic Research, Inc
33. Unemployment-Rate Dynamics and Persistent Unemployment Under Rational Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1984) View citations
    See also Journal Article in American Economic Review (1985)

1984

34. Some Pleasant Monetarist Arithmetic
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Quarterly Review (1984)
35. The U.S. Productivity Slowdown: A Case of Statistical Myopia
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1983)
    UCLA Economics Working Papers, UCLA Department of Economics (1982) View citations
    See also Journal Article in American Economic Review (1984)

1983

36. International Transmission under Pegged and Floating Exchange Rates: An Empirical Comparison
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1982

37. British Economic Policy Under Margaret Thatcher: A Midterm Examination
    UCLA Economics Working Papers, UCLA Department of Economics View citations
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1983)
38. Qualitative Information, Reputation and Monopolistic Competition
    UCLA Economics Working Papers, UCLA Department of Economics
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1975) View citations
    See also Journal Article in International Review of Law and Economics (1989)
39. Steady-State Stability of Monetary Policy with a Fixed Fiscal Policy: An Exposition
    UCLA Economics Working Papers, UCLA Department of Economics
40. The Real Price of Oil and the 1970s World Inflation
    NBER Working Papers, National Bureau of Economic Research, Inc

1981

41. Exchange Rate Systems and Trends in Inflation
    UCLA Economics Working Papers, UCLA Department of Economics
42. Introduction, Summary. and Conclusions from The International Transmission of Inflation
    UCLA Economics Working Papers, UCLA Department of Economics
43. The Price of Oil and World Inflation and Recession
    UCLA Economics Working Papers, UCLA Department of Economics
    See also Journal Article in American Economic Review (1982)
44. The Role of Money Supply Shocks in the Short-Run Demand for Money
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1977) View citations
    See also Journal Article in Journal of Monetary Economics (1981)

1980

45. Does Purchasing Power Parity Work?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Proceedings (1981)
46. Sterilization and Monetary Control under Pegged Exchange Rates: Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
47. The International Economy as a Source of and Restraint on United States Inflation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
48. The Mark III International Transmission Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
49. Unanticipated or Actual Changes in Aggregate Demand Variables: A Cross-Country Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1979

50. The NBER International Transmission Model: The Mark II Disequilibrium Version, Estimates and Lessons
    UCLA Economics Working Papers, UCLA Department of Economics View citations
    See also Journal Article in Proceedings (1978)

1978

51. The Effects of Social Security on Income and the Capital Stock
    UCLA Economics Working Papers, UCLA Department of Economics View citations
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1977) View citations
52. The Monetary Approach to the Balance of Payments: Two Specious Assumptions
    UCLA Economics Working Papers, UCLA Department of Economics
    See also Journal Article in Economic Inquiry (1980)
53. The NBER International Transmission MOdel: EStimates and Lessons from Mark II
    UCLA Economics Working Papers, UCLA Department of Economics
54. The Nber International Transmission Model: Mark II
    UCLA Economics Working Papers, UCLA Department of Economics

1977

55. An Introduction to the Nber International Transmission Model:Mark I
    UCLA Economics Working Papers, UCLA Department of Economics
56. The Monetary Approach to the Balance of Payments:A Review Article
    UCLA Economics Working Papers, UCLA Department of Economics

1975

57. The Consumer Expenditure Function
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Chapter (1977)
58. Three-And-A-Half Million U.S. Employees Have Been Mislaid: Or, An Explanation of Unemployment, 1934-1941
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of Political Economy (1976)

1974

59. Rational Expectations Under Conditions of Costly Information
    UCLA Economics Working Papers, UCLA Department of Economics View citations
    See also Journal Article in Journal of Finance (1976)

1973

60. Entrepreneurship, the Firm, and the General Market Information Problem
    UCLA Economics Working Papers, UCLA Department of Economics View citations
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1973) View citations

Journal Articles

2007

1. Minerva unbound: Knowledge stocks, knowledge flows and new knowledge production
   Research Policy, 2007, 36, (6), 850-863
   See also Working Paper (2006)
2. Virtuous circles in science and commerce
   Papers in Regional Science, 2007, 86, (3), 445-470 View citations

2004

3. High Stakes in High Technology: High-Tech Market Values as Options
   Economic Inquiry, 2004, 42, (3), 351-369
4. Joint Ventures, Universities, and Success in the Advanced Technology Program
   Contemporary Economic Policy, 2004, 22, (2), 145-161

2003

5. Commercializing knowledge: university science, knowledge capture and firm performance in biotechnology
   Proceedings, 2003, (Sep), 149-170 View citations
   See also Working Paper (2001)
6. Growing by Leaps and Inches: Creative Destruction, Real Cost Reduction, and Inching Up
   Economic Inquiry, 2003, 41, (1), 1-19 View citations
   Also in Proceedings, 2003, (Sep), 13-42 (2003) View citations
   See also Working Paper (2002)

2002

7. Labor Mobility from Academe to Commerce
   Journal of Labor Economics, 2002, 20, (3), 629-660 View citations
   See also Working Paper (1997)

2001

8. Capturing Technological Opportunity via Japan's Star Scientists: Evidence from Japanese Firms' Biotech Patents and Products
   The Journal of Technology Transfer, 2001, 26, (1-2), 37-58 View citations
   See also Working Paper (1998)
9. THE WEALTH OF NATIONS: GROWTH, IDEAS, AND TECHNOLOGY
   Contemporary Economic Policy, 2001, 19, (1), 1-1

1999

10. Comment on "The Quality of Government": Why Do Some Governments Have Better Institutions Than Others?
    Journal of Law, Economics and Organization, 1999, 15, (1), 280-82

1998

11. Geographically Localized Knowledge: Spillovers or Markets?
    Economic Inquiry, 1998, 36, (1), 65-86 View citations
12. Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises
    American Economic Review, 1998, 88, (1), 290-306 View citations

1997

13. Present at the biotechnological revolution: transformation of technological identity for a large incumbent pharmaceutical firm
    Research Policy, 1997, 26, (4-5), 429-446 View citations

1992

14. CENTRAL AND EASTERN EUROPE IN TRANSITION
    Contemporary Economic Policy, 1992, 10, (1), 1-20
15. Causes of declining growth
    Proceedings, 1992, 5-13 View citations
16. How does it matter? Commentary: whatever happened to contracyclical policy?
    Proceedings, 1992, 161-186

1991

17. THE IMPACT OF GOVERNMENT DEFICITS ON PERSONAL AND NATIONAL SAVING RATES
    Contemporary Economic Policy, 1991, 9, (4), 39-55 View citations

1990

18. Buffer stock models of the demand for money and the conduct of monetary policy
    Proceedings, 1990, 325-348
    Also in Journal of Policy Modeling, 1990, 12, (2), 325-345 (1990)

1989

19. CHALLENGES OF MACRO POLICY IN THE OPEN U.S. ECONOMY
    Contemporary Economic Policy, 1989, 7, (1), 1-34
20. Qualitative information, reputation, and monopolistic competition
    International Review of Law and Economics, 1989, 9, (1), 87-103
    See also Working Paper (1982)
21. The Empirical Reliability of Monetary Aggregates as Indicators: 1983-1987
    Economic Inquiry, 1989, 27, (4), 555-85

1987

22. RECENT BEHAVIOR OF THE VELOCITY OF MONEY
    Contemporary Economic Policy, 1987, 5, (1), 1-33 View citations

1986

23. International Economic Policy Coordination and Transmission: A Review
    Oxford Economic Papers, 1986, 38, (3), 545-50
24. The internationalization of American banking and finance: Structure, risk, and world interest rates
    Journal of International Money and Finance, 1986, 5, (4), 403-428 View citations
    See also Working Paper (1987)

1985

25. Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne
    Journal of Monetary Economics, 1985, 16, (2), 251-257 View citations
26. Unemployment Rate Dynamics and Persistent Unemployment under Rational Expectations
    American Economic Review, 1985, 75, (4), 614-37 View citations
    See also Working Paper (1985)

1984

27. Some pleasant monetarist arithmetic
    Quarterly Review, 1984, (Spr) View citations
    See also Working Paper (1984)
28. The U.S. Productivity Slowdown: A Case of Statistical Myopia
    American Economic Review, 1984, 74, (3), 301-22 View citations
    See also Working Paper (1984)

1983

29. British economic policy under margaret thatcher: A midterm examination
    Carnegie-Rochester Conference Series on Public Policy, 1983, 18, (1), 157-207 View citations
    See also Working Paper (1982)

1982

30. The Price of Oil and World Inflation and Recession
    American Economic Review, 1982, 72, (4), 738-51 View citations
    See also Working Paper (1981)

1981

31. Does purchasing power parity work?
    Proceedings, 1981, 136-173 View citations
    See also Working Paper (1980)
32. The role of money supply shocks in the short-run demand for money
    Journal of Monetary Economics, 1981, 8, (2), 183-199 View citations
    See also Working Paper (1981)

1980

33. The Monetary Approach to the Balance of Payments: Two Specious Assumptions
    Economic Inquiry, 1980, 18, (2), 321-26 View citations
    See also Working Paper (1978)
34. Unanticipated and actual changes in aggregate demand variables: a cross- country analysis
    Proceedings, 1980, 160-198

1978

35. The NBER international transmission model: the Mark II disequilibrium version, estimates and lessons
    Proceedings, 1978, 87-141
    See also Working Paper (1979)

1976

36. Price and wage controls: The first two years
    Carnegie-Rochester Conference Series on Public Policy, 1976, 2, (1), 235-263 View citations
37. Rational Expectations under Conditions of Costly Information
    Journal of Finance, 1976, 31, (3), 889-95 View citations
    See also Working Paper (1974)
38. Three-and-a-Half Million U.S. Employees Have Been Mislaid: Or, an Explanation of Unemployment, 1934-1941
    Journal of Political Economy, 1976, 84, (1), 1-16
    See also Working Paper (1975)

1975

39. Postwar U. S. Consumption, Consumer Expenditures, and Saving
    American Economic Review, 1975, 65, (2), 217-22 View citations
40. The Financial and Tax Effects of Monetary Policy on Interest Rates
    Economic Inquiry, 1975, 13, (2), 266-76 View citations

1974

41. The Permanent Income Theory of Consumption-A Restatement
    The Quarterly Journal of Economics, 1974, 88, (2), 228-50 View citations

1973

42. Free Competition and the Optimal Amount of Fraud
    Journal of Law & Economics, 1973, 16, (1), 67-88 View citations
43. Paper Recycling and the Stock of Trees
    Journal of Political Economy, 1973, 81, (5), 1253-55

1972

44. The Allocation of Transitory Income Among Consumers' Assets
    American Economic Review, 1972, 62, (5), 928-41 View citations

1970

45. Allais' Restatement of the Quantity Theory: Comment
    American Economic Review, 1970, 60, (3), 444-46

Books

1983

1. The International Transmission of Inflation
   NBER Books, National Bureau of Economic Research, Inc View citations

Chapters

1989

1. The International Transmission of Inflation Afloat
   A chapter in Money, History, and International Finance: Essays in Honor of Anna J. Schwartz, 1989, pp 203-244 View citations

1983

2. Actual versus Unanticipated Changes in Aggregate Demand Variables: A Sensitivity Analysis of the Real-Income Equation
   A chapter in The International Transmission of Inflation, 1983, pp 273-288
3. I. Preliminaries: Introduction and Summary
   A chapter in The International Transmission of Inflation, 1983, pp 1-13
4. International Transmission of Monetary and Fiscal Shocks under Pegged and Floating Exchange Rates: Simulation Experiments
   A chapter in The International Transmission of Inflation, 1983, pp 162-231
5. Movements in Purchasing Power Parity: The Short and Long Runs
   A chapter in The International Transmission of Inflation, 1983, pp 462-477 View citations
6. Preface
   A chapter in The International Transmission of Inflation, 1983, pp -3
7. Sterilization and Monetary Control: Concepts, Issues, and a Reduced-Form Test
   A chapter in The International Transmission of Inflation, 1983, pp 291-313
8. The Importance of Oil Price Changes in the 1970s World Inflation
   A chapter in The International Transmission of Inflation, 1983, pp 232-272
9. The Mark III International Transmission Model: Estimates
   A chapter in The International Transmission of Inflation, 1983, pp 113-161 View citations
10. The Mark III International Transmission Model: Specification
    A chapter in The International Transmission of Inflation, 1983, pp 85-112 View citations
11. The United States as an Exogenous Source of World Inflation under the Bretton Woods System
    A chapter in The International Transmission of Inflation, 1983, pp 478-490 View citations
12. V. Conclusions: Conclusions on the International Transmission of Inflation
    A chapter in The International Transmission of Inflation, 1983, pp 491-524

1977

13. The Consumer Expenditure Function
    A chapter in Explorations in Economic Research, Volume 4, number 5, 1977, pp 51-80
    See also Working Paper (1975)