If, in the context of a standard production function, Y = F ( K , N ), where K represents physical capital and N represents raw labor, we were to interpret the Solow residual 11eb8185_50f2_44b7_834f_0df3a2ec3b99_SM2805_11 as "technological progress," we would be in error. What, besides technological progress, would this residual catch How could you expand the model to eliminate this problem

Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz

النسخة 12الرقم المعياري الدولي: 978-1259070969

Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz

النسخة 12الرقم المعياري الدولي: 978-1259070969

تمرين 17

If, in the context of a standard production function, Y = F ( K , N ), where K represents physical capital and N represents raw labor, we were to interpret the Solow residual

as "technological progress," we would be in error. What, besides technological progress, would this residual catch How could you expand the model to eliminate this problem

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موثّق

A production function gives a numerical ...