This paper builds a model of growth through industrialization, where machines replace workers in a growing number of … grows unboundedly. The mechanism that drives growth is feedback between industrialization and wages. High wages provide … incentives to use machines, while industrialization raises wages. The model shows that industrialization and growth take off only …

This paper builds a model of growth through industrialization, as machines replace workers in a growing number of tasks … unboundedly. The mechanism that drives growth is the feedback between industrialization and wages. High wages are incentives to … use machines and industrialize, while industrialization raises wages. The model shows that industrialization and growth …

This Selected Issues paper analyzes pace of economic growth for Brazil. Moderating activity and stubbornly elevated …

The information technology (IT) revolution has arrived, but how much will it change the world? It has been established …