This paper develops an overlapping generations model in which agents make educational and fertility decisions under life-cycle considerations, and retirement from work is distinguished from death. This model sheds light on a novel mechanism that links life expectancy, retirement, education,...

We propose a two-country growth model of intermediate businessservices trade that captures the role of time zone differences. It is shown that a time-saving improvement in intermediate businessservices trade involving production in different time zones can have a permanent impact on productivity.