It is generally accepted that knowledge has become a third major factor of production, in addition to the traditional factors — labor and capital. Information technology production is a significant factor in the knowledge economy both because it is a major enabler of that economy and because it is itself highly knowledge intensive. Many countries around the world are looking for ways to promote...

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The findings, interpretations, and conclusions expressed in this study are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent.

In this paper, we examine whether the business cycle plays a role in marriage and divorce. We use data on Spain, since the differences between recession and expansion periods across regions are quite pronounced in that country. We find that the unemployment rate is negatively associated with the marriage rate, pointing to a procyclical evolution of marriage; however the response of the divorce ...