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 11eb8243_484d_a618_bcd8_19957b72be20_SM2806_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 6

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

التوضيح

موثّق

A production function gives a numerical ...