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Other measures of productivity growth, which take account of capital inputs as well as labor inputs, show a similar slowdown in the period after 2004.
Without it, growth would be dependent on labour and capital inputs, and growth would be just a few percent.
Myopic decision rules for this model of production are derived by utilizing prices of capital inputs that incorporate Jorgenson's cost of capital.
Open rooftop farming apparently provides benefits if high yield crops (e.g. tomatoes) are cultivated, otherwise significant capital inputs detrimentally affect environmental performance.
Such a formulation acknowledges the endogeneity of input and output and, more importantly, allows the straightforward estimation of the demand equations for labor and capital inputs.
Another important theme of the conference was the extension of the measurement of capital inputs to include intangibles, such as human capital and intellectual property, as well as the familiar tangible assets – plant, equipment, and inventories.
Similar(8)
The marginal products for capital input incorporated the cost of capital.
The price of capital input incorporates Jorgenson's cost of capital.
Capital input expands by providing new production units with the same collection of plant and equipment.
All of these findings are based on capital services, rather than capital stock, as a measure of capital input.
The acceleration of capital input growth was due primarily to the flood of IT investment after 1995.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com