• Publications
  • Influence
Inequality and Crime
  • M. Kelly
  • Economics
  • Review of Economics and Statistics
  • 1 November 2000
This paper considers the relationship between inequality and crime using data from urban counties. The behavior of property and violent crime are quite different. Inequality has no effect on propertyExpand
All their eggs in one basket: Portfolio diversification of US households
Abstract This paper uses data from the Survey of Consumer Finances to assess how well mean-variance efficiency describes the portfolio diversification of US households. It does not seem to work well.Expand
On the likely extent of falls in Irish house prices
Looking at house price cycles across the OECD since 1970, we find a strong relationship between the size of the initial rise in price and its subsequent fall. Were this relationship to hold forExpand
Linkages, Thresholds, and Development
Growth is rarehistorically, with short expansions interspersed with long periodsof stasis. We examine how well this can be explained by a generalclass of Schumpeterian growth models that treatExpand
Marshallian Externalities in Innovation
A quality ladder model is used to test for Marshallian externalities in innovation. The model predicts that, in the absence of spillovers, the geographical distribution of research should be the sameExpand
On endogenous growth with productivity shocks
Abstract Recent evidence on output convergence across economies has been widely interpreted as falsifying the predictions of endogenous growth theory. This paper shows, however, that nonconvergenceExpand
Social networks and inequality
Abstract About half of all vacancies are filled through networks of personal contact. We consider the Arrow–Loury conjecture that such labor market networks exacerbate inequality. Our central resultExpand
Market Contagion: Evidence from the Panics of 1854 and 1857
To test a model of contagion--where individuals hear some bad news and communicate it to their acquaintances, who then pass it on, leading to a market panic--requires a knowledge of the informationExpand
Change points and temporal dependence in reconstructions of annual temperature: Did Europe experience a Little Ice Age?
We analyze the timing and extent of Northern European temperature falls during the Little Ice Age, using standard temperature reconstructions. However, we can find little evidence of temporalExpand
Living Standards and Mortality Since the Middle Ages
Existing studies find little connection between living standards and mortality in England, but go back only to the sixteenth century. Using new data on inheritances, we extend estimates of mortalityExpand