Details about Michael Darby

E-mail:
Homepage:	http://www.nber.org/vitae/vita150.htm
Phone:	310-825-4180
Postal address:	Warren C. Cordner Distinguished 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) National Bureau of Economic Research (NBER), (more information at EDIRC) Department of Economics, University of California-Los Angeles (UCLA), (more information at EDIRC) Luskin School of Public Affairs, University of California-Los Angeles (UCLA), (more information at EDIRC)

Access statistics for papers by Michael Darby.

Last updated 2018-10-30. Update your information in the RePEc Author Service.

Short-id: pda66

---

Jump to Journal Articles Books Chapters

Working Papers

2014

1. Defacto and Deeded Intellectual Property: Knowledge-Driven Co-Evolution of Firm Collaboration Boundaries and IPR Strategy
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   See also Journal Article in Annals of Economics and Statistics (2014)

2011

2. Communitywide Database Designs for Tracking Innovation Impact: COMETS, STARS and Nanobank
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
   See also Journal Article in Annals of Economics and Statistics (2014)

2007

3. Star Scientists, Innovation and Regional and National Immigration
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (73)
   See also Chapter (2009)

2006

4. Innovation, Competition and Welfare-Enhancing Monopoly
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
5. Minerva Unbound: Knowledge Stocks, Knowledge Flows and New Knowledge Production
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
   See also Journal Article in Research Policy (2007)
6. Movement of Star Scientists and Engineers and High-Tech Firm Entry
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
   See also Journal Article in Annals of Economics and Statistics (2014)

2005

7. Socio-economic Impact of Nanoscale Science: Initial Results and NanoBank
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (29)

2003

8. Grilichesian Breakthroughs: Inventions of Methods of Inventing and Firm Entry in Nanotechnology
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (45)
   See also Journal Article in Annals of Economics and Statistics (2005)
   Chapter (2010)
9. Measuring Success of Advanced Technology Program Participation Using Archival Data
   NBER Working Papers, National Bureau of Economic Research, Inc
10. Universities, Joint Ventures, and Success in the Advanced Technology Program
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)

2002

11. Going Public When You Can in Biotechnology
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
12. Growing by Leaps and Inches: Creative Destruction, Real Cost Reduction, and Inching Up
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article in Economic Inquiry (2003)

2001

13. Commercializing Knowledge: University Science, Knowledge Capture, and Firm Performance in Biotechnology
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    See also Journal Article in Proceedings (2003)

1999

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 (3)
15. 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 (15)

1998

16. 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 (6)
    See also Journal Article in The Journal of Technology Transfer (2001)
17. Fundamentals or Population Dynamics and the Geographic Distribution of U.S. Biotechnology Enterprises, 1976-1989
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

1997

18. Chinese Rural Industrial Productivity and Urban Spillovers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
19. Labor Mobility from Academe to Commerce
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article in Journal of Labor Economics (2002)

1996

20. Costly Information in Firm Transformation, Exit, or Persistent Failure
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
21. Star Scientists, Institutions, and the Entry of Japanese Biotechnology Enterprises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)

1995

22. Collaboration Structure and Information Dilemmas in Biotechnology: Organizational Boundaries as Trust Production
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    Also in Institute for Social Science Research, Working Paper Series, Institute for Social Science Research, UCLA (1994) View citations (2)
23. 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 (8)
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 (19)

1994

26. Intellectual Capital and the Birth of U.S. Biotechnology Enterprises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
27. Intellectual Capital and the Firm: The Technology of Geographically Localized Knowledge Spillovers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (77)
28. Inter-Institutional Spillover Effects in the Commercialization of Bioscience
    Institute for Social Science Research, Working Paper Series, Institute for Social Science Research, UCLA View citations (2)
29. Over-the-Counter Derivatives and Systemic Risk to the Global Financial System
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
30. 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 (4)

1986

31. Economic Events and Keynesian Ideas: The 1930s and the 1970s
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
32. The Ins and Outs of Unemployment: The Ins Win
    UCLA Economics Working Papers, UCLA Department of Economics View citations (79)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1986) View citations (84)
33. The Internationalization of American Banking and Finance: Structure, Risk, adn World Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1985) View citations (1)
    See also Journal Article in Journal of International Money and Finance (1986)

1985

34. Unemployment-Rate Dynamics and Persistent Unemployment Under Rational Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (100)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1984)
    See also Journal Article in American Economic Review (1985)

1984

35. Some Pleasant Monetarist Arithmetic
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
    See also Journal Article in Quarterly Review (1984)

1983

36. Monetary Policy in the Large Open Economy
    NBER Working Papers, National Bureau of Economic Research, Inc
37. The U.S. Productivity Slowdown: A Case of Statistical Myopia
    UCLA Economics Working Papers, UCLA Department of Economics
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1982) View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (1982) View citations (6)
    See also Journal Article in American Economic Review (1984)

1982

38. British Economic Policy Under Margaret Thatcher: A Midterm Examination
    UCLA Economics Working Papers, UCLA Department of Economics View citations (3)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1983)
39. 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)
    See also Journal Article in International Review of Law and Economics (1989)
40. Steady-State Stability of Monetary Policy with a Fixed Fiscal Policy: An Exposition
    UCLA Economics Working Papers, UCLA Department of Economics

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 View citations (1)
    See also Journal Article in American Economic Review (1982)
44. The Real Price of Oil and the 1970s World Inflation
    NBER Working Papers, National Bureau of Economic Research, Inc

1980

45. Does Purchasing Power Parity Work?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article in Proceedings (1981)
46. International Transmission under Pegged and Floating Exchange Rates: An Empirical Comparison
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
47. Sterilization and Monetary Control under Pegged Exchange Rates: Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
48. The International Economy as a Source of and Restraint on United States Inflation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
49. The Mark III International Transmission Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
50. The Role of Money Supply Shocks in the Short-Run Demand for Money
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1977) View citations (3)
    See also Journal Article in Journal of Monetary Economics (1981)
51. Unanticipated or Actual Changes in Aggregate Demand Variables: A Cross-Country Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)

1979

52. The NBER International Transmission Model: The Mark II Disequilibrium Version, Estimates and Lessons
    UCLA Economics Working Papers, UCLA Department of Economics View citations (1)
    See also Journal Article in Proceedings (1978)

1978

53. The Effects of Social Security on Income and the Capital Stock
    UCLA Economics Working Papers, UCLA Department of Economics View citations (16)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1977) View citations (3)
    See also Book (1979)
54. 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)
55. The NBER International Transmission MOdel: EStimates and Lessons from Mark II
    UCLA Economics Working Papers, UCLA Department of Economics
56. The Nber International Transmission Model: Mark II
    UCLA Economics Working Papers, UCLA Department of Economics

1977

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

1975

59. The Consumer Expenditure Function
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Chapter (1977)
60. 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 View citations (3)
    See also Journal Article in Journal of Political Economy (1976)

1974

61. Rational Expectations Under Conditions of Costly Information
    UCLA Economics Working Papers, UCLA Department of Economics View citations (1)
    See also Journal Article in Journal of Finance (1976)

1973

62. Entrepreneurship, the Firm, and the General Market Information Problem
    UCLA Economics Working Papers, UCLA Department of Economics View citations (2)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1973) View citations (1)

Journal Articles

2014

1. Communitywide Database Designs for Tracking Innovation Impact: Comets, Stars and Nanobank
   Annals of Economics and Statistics, 2014, (115-116), 277-311
   See also Working Paper (2011)
2. Defacto and Deeded Intellectual Property: Knowledge-Driven Co-Evolution of Firm Collaboration Boundaries and IPR Stragtegy
   Annals of Economics and Statistics, 2014, (115-116), 221-251
   See also Working Paper (2014)
3. Melding Economic and Social to Understand Evolution and Impact of High Technology
   Annals of Economics and Statistics, 2014, (115-116), 13-21
4. Movement of Star Scientists and Engineers and High-Tech Firm Entry
   Annals of Economics and Statistics, 2014, (115-116), 125-175
   See also Working Paper (2006)

2007

5. Minerva unbound: Knowledge stocks, knowledge flows and new knowledge production
   Research Policy, 2007, 36, (6), 850-863 View citations (79)
   See also Working Paper (2006)
6. Virtuous circles in science and commerce*
   Papers in Regional Science, 2007, 86, (3), 445-470 View citations (22)

2005

7. Grilichesian Breakthroughs: Inventions of Methods of Inventing and Firm Entry in Nanotechnology
   Annals of Economics and Statistics, 2005, (79-80), 143-164 View citations (13)
   See also Working Paper (2003)
   Chapter (2010)

2004

8. High Stakes in High Technology: High-Tech Market Values as Options
   Economic Inquiry, 2004, 42, (3), 351-369 View citations (6)
9. Joint Ventures, Universities, and Success in the Advanced Technology Program
   Contemporary Economic Policy, 2004, 22, (2), 145-161 View citations (14)

2003

10. Commercializing knowledge: university science, knowledge capture and firm performance in biotechnology
    Proceedings, 2003, (Sep), 149-170 View citations (22)
    See also Working Paper (2001)
11. Growing by Leaps and Inches: Creative Destruction, Real Cost Reduction, and Inching Up
    Economic Inquiry, 2003, 41, (1), 1-19 View citations (16)
    Also in Proceedings, 2003, (Sep), 13-42 (2003) View citations (15)
    See also Working Paper (2002)

2002

12. Labor Mobility from Academe to Commerce
    Journal of Labor Economics, 2002, 20, (3), 629-660 View citations (70)
    See also Working Paper (1997)

2001

13. 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 (77)
    See also Working Paper (1998)
14. THE WEALTH OF NATIONS: GROWTH, IDEAS, AND TECHNOLOGY
    Contemporary Economic Policy, 2001, 19, (1), 1-1

1999

15. Comment on "The Quality of Government": Why Do Some Governments Have Better Institutions Than Others?
    The Journal of Law, Economics, and Organization, 1999, 15, (1), 280-82 View citations (2)

1998

16. Geographically Localized Knowledge: Spillovers or Markets?
    Economic Inquiry, 1998, 36, (1), 65-86 View citations (323)
17. Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises
    American Economic Review, 1998, 88, (1), 290-306 View citations (657)

1997

18. 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 (49)

1992

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

1991

22. THE IMPACT OF GOVERNMENT DEFICITS ON PERSONAL AND NATIONAL SAVING RATES
    Contemporary Economic Policy, 1991, 9, (4), 39-55 View citations (2)

1990

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

1989

24. CHALLENGES OF MACRO POLICY IN THE OPEN U.S. ECONOMY
    Contemporary Economic Policy, 1989, 7, (1), 1-34
25. Qualitative information, reputation, and monopolistic competition
    International Review of Law and Economics, 1989, 9, (1), 87-103 View citations (5)
    See also Working Paper (1982)
26. The Empirical Reliability of Monetary Aggregates as Indicators: 1983-1987
    Economic Inquiry, 1989, 27, (4), 555-85 View citations (3)

1987

27. RECENT BEHAVIOR OF THE VELOCITY OF MONEY
    Contemporary Economic Policy, 1987, 5, (1), 1-33 View citations (7)

1986

28. International Economic Policy Coordination and Transmission: A Review
    Oxford Economic Papers, 1986, 38, (3), 545-50 View citations (1)
29. 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 (12)
    See also Working Paper (1986)

1985

30. Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne
    Journal of Monetary Economics, 1985, 16, (2), 251-257 View citations (11)
31. Unemployment Rate Dynamics and Persistent Unemployment under Rational Expectations
    American Economic Review, 1985, 75, (4), 614-37 View citations (100)
    See also Working Paper (1985)

1984

32. Some pleasant monetarist arithmetic
    Quarterly Review, 1984, 8, (Spr) View citations (19)
    See also Working Paper (1984)
33. The U.S. Productivity Slowdown: A Case of Statistical Myopia
    American Economic Review, 1984, 74, (3), 301-22 View citations (12)
    See also Working Paper (1983)

1983

34. A Syllabus for Macrodynamics
    The American Economist, 1983, 27, (1), 71-78
35. British economic policy under margaret thatcher: A midterm examination
    Carnegie-Rochester Conference Series on Public Policy, 1983, 18, (1), 157-207 View citations (11)
    See also Working Paper (1982)

1982

36. The Price of Oil and World Inflation and Recession
    American Economic Review, 1982, 72, (4), 738-51 View citations (227)
    See also Working Paper (1981)

1981

37. Does purchasing power parity work?
    Proceedings, 1981, (5), 136-173 View citations (6)
    See also Working Paper (1980)
38. The role of money supply shocks in the short-run demand for money
    Journal of Monetary Economics, 1981, 8, (2), 183-199 View citations (52)
    See also Working Paper (1980)

1980

39. The Monetary Approach to the Balance of Payments: Two Specious Assumptions
    Economic Inquiry, 1980, 18, (2), 321-26 View citations (8)
    See also Working Paper (1978)
40. Unanticipated and actual changes in aggregate demand variables: a cross- country analysis
    Proceedings, 1980, (4), 160-198 View citations (1)

1978

41. The NBER international transmission model: the Mark II disequilibrium version, estimates and lessons
    Proceedings, 1978, (2), 87-141
    See also Working Paper (1979)

1976

42. Price and wage controls: The first two years
    Carnegie-Rochester Conference Series on Public Policy, 1976, 2, (1), 235-263 View citations (4)
43. Rational Expectations under Conditions of Costly Information
    Journal of Finance, 1976, 31, (3), 889-95 View citations (9)
    See also Working Paper (1974)
44. 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 View citations (25)
    See also Working Paper (1975)

1975

45. Postwar U. S. Consumption, Consumer Expenditures, and Saving
    American Economic Review, 1975, 65, (2), 217-22 View citations (5)
46. The Financial and Tax Effects of Monetary Policy on Interest Rates
    Economic Inquiry, 1975, 13, (2), 266-76 View citations (140)

1974

47. The Permanent Income Theory of Consumption — A Restatement
    The Quarterly Journal of Economics, 1974, 88, (2), 228-250 View citations (11)

1973

48. Free Competition and the Optimal Amount of Fraud
    Journal of Law and Economics, 1973, 16, (1), 67-88 View citations (975)
49. Paper Recycling and the Stock of Trees
    Journal of Political Economy, 1973, 81, (5), 1253-55 View citations (5)

1972

50. The Allocation of Transitory Income Among Consumers' Assets
    American Economic Review, 1972, 62, (5), 928-41 View citations (29)

1970

51. Allais' Restatement of the Quantity Theory: Comment
    American Economic Review, 1970, 60, (3), 444-46 View citations (2)

Books

1983

1. The International Transmission of Inflation
   National Bureau of Economic Research Books, University of Chicago Press View citations (101)
   Also in NBER Books, National Bureau of Economic Research, Inc (1983) View citations (75)

1979

2. The Effects of Social Security on Income and the Capital Stock
   Books, American Enterprise Institute View citations (40)
   See also Working Paper (1978)

Chapters

2010

1. Grilichesian Breakthroughs: Inventions of Methods of Inventing and Firm Entry in Nanotechnology
   A chapter in Contributions in Memory of Zvi Griliches, 2010, pp 143-164 View citations (4)
   See also Journal Article in Annals of Economics and Statistics (2005)
   Working Paper (2003)

2009

2. Star Scientists, Innovation and Regional and National Immigration
   Chapter 6 in Entrepreneurship and Openness, 2009 View citations (3)
   See also Working Paper (2007)

1989

3. 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 (16)

1983

4. 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
5. Conclusions on the International Transmission of Inflation
   A chapter in The International Transmission of Inflation, 1983, pp 491-524 View citations (28)
6. I. Preliminaries: Introduction and Summary
   A chapter in The International Transmission of Inflation, 1983, pp 1-13
7. 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
8. Movements in Purchasing Power Parity: The Short and Long Runs
   A chapter in The International Transmission of Inflation, 1983, pp 462-477 View citations (30)
9. Preface
   A chapter in The International Transmission of Inflation, 1983, pp -3
10. Sterilization and Monetary Control: Concepts, Issues, and a Reduced-Form Test
    A chapter in The International Transmission of Inflation, 1983, pp 291-313 View citations (2)
11. The Importance of Oil Price Changes in the 1970s World Inflation
    A chapter in The International Transmission of Inflation, 1983, pp 232-272
12. The Mark III International Transmission Model: Estimates
    A chapter in The International Transmission of Inflation, 1983, pp 113-161 View citations (7)
13. The Mark III International Transmission Model: Specification
    A chapter in The International Transmission of Inflation, 1983, pp 85-112 View citations (6)
14. 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 (1)

1977

15. The Consumer Expenditure Function
    A chapter in Explorations in Economic Research, Volume 4, number 5, 1977, pp 645-674
    See also Working Paper (1975)