Modern economic growth started in the West in the early nineteenth century. This survey discusses the precise connection between the Industrial Revolution and the beginnings of growth, and connects it to the intellectual and economic factors underlying the growth of useful knowledge. The...

We document a process of rapid tertiarization of the Chinese economy since 2005. The employment and value-added shares of the service sector have increased significantly. Moreover, total factor productivity growth has increased faster in the service sector than in the manufacturing sector....

We analyze the optimal life-cycle education decision of a single atomistic individual and show that the standard result of part-time education and part-time work throughout the life-cycle holds only under very special and unrealistic assumptions. Once these assumptions are relaxed, different...