Michael Darby

Warren C. Cordner Professor of Money and Financial Markets

Phone: (310) 825-4180

Fax: (310) 206-2002




Cornell Hall, Room D5.10
UCLA Anderson School of Management
110 Westwood Plaza
Los Angeles, CA 90095-1481

Michael Darby currently serves as the Warren C. Cordner Professor of Money and Financial Markets at UCLA Anderson School of Management and in the Departments of Economics and Public Policy at the University of California, Los Angeles, and as Director of the John M. Olin Center for Policy at UCLA Anderson. Concurrently he holds appointments as Chairman of The Dumbarton Group, Research Associate with the National Bureau of Economic Research, and Adjunct Scholar with the American Enterprise Institute.


Ph.D. Economics, 1970, University of Chicago
M.A. Economics, 1968, University of Chicago
A.B. (senior fellow) 1967, Dartmouth College


Capital Markets, Consumer Price Index, Corporate Earnings, Employment, Federal Reserve, Inflation, Interest Rates, Monetary Policy, Productivity Growth, Banking, Biotechnology Industry, Macroeconomics, International Finance, Industrial Organization


  • Fellow, California Council on Science and Technology, 2000-present.
  • Hightower Distinguished Lecturer in Organization and Management, Emory University, 1993.
  • Listed among top 25 young economists (under 40 in 1985), ranked by total [14th] and
    mean [9th] citations, 1971-1985, in David Colander, "Research on the Economics Profession," Journal of Economic Perspectives, Fall 1989, 3: 143.
  • Alexander Hamilton Award (U.S. Treasury Department's highest honor), 1989.
  • Listed in:  Who's Who in Economics:  A Biographical Dictionary of Major Economists,
    1700-1981, 1983  (also 2nd edition 1985, 3rd edition 1996); Who's Who in America, etc.
  • Federal Deposit Insurance Corporation:  Graduate Fellow 1969-70; Prize for Best
      Dissertation, Fellowship Year 1969-70.
  • National Science Foundation Graduate Fellow, 1967-69.
  • Lilly Honor Fellow, 1967-70.
  • Woodrow Wilson Fellow (Honorary), 1967-68.
  • Senior Fellow of Dartmouth College, 1966-67.
  • Phi Beta Kappa, 1966.
  • Michael R. Darby, and Lynne G. Zucker. (January 2001). Capturing Technological Opportunity Via Japan's Star Scientists: Evidence from Japanese Firms' Biotech Patents and Products. Journal of Technology Transfer, 26(1/2): 37-58.
  • Michael R. Darby, and Lynne G. Zucker. (2001). Change or Die: The Adoption of Biotechnology in the Japanese and U.S. Pharmaceutical Industries. Comparative Studies of Technological Evolution, 7: 85-125.
  • Lynne G. Zucker, Michael R. Darby, and Jeff Armstrong. (January 2002). Commercializing Knowledge: University Science, Knowledge Capture, and Firm Performance in Biotechnology. Management Science, 48(1): 138-153.
  • Lynne G. Zucker, Michael R. Darby, and Maximo Torero. (July 2002). Labor Mobility from Academe to Commerce. Journal of Labor Economics, 20(3): 629-660.
  • Michael R. Darby and Lynne G. Zucker. (January 2003). Growing by Leaps and Inches: Creative Destruction, Real Cost Reduction, and Inching Up. Economic Inquiry, 41(1): 1-19.
  • Michael R. Darby, Lynne G. Zucker, and Andrew Wang. (April 2004). Joint Ventures, Universities, and Success in the Advanced Technology Program. Contemporary Economic Policy, 22(2): 145-161.
  • Michael R. Darby, Qiao Liu, and Lynne G. Zucker. (July 2004 in press). High Stakes in High Technology: High-tech Market Values as Options. Economic Inquiry, 42(3): 351-369.
  • Lynne G. Zucker and Michael R. Darby. (2004 in press). Measuring Success of Advanced Technology Program Participation Using Archival Data. Economic Development Quarterly,

Working Papers

Michael Darby, and Lynne Zucker. (July 2007). "Star Scientists, Innovation and Regional and National Immigration."

Michael Darby, and Lynne Zucker. (November 2006). "Movement of Star Scientists and Engineers and High-Tech Firm Entry."