The assumption behind popular data on national capital stocks, and therefore total factor productivity, is that countries were in a steady state in the first year that investment data became available ...
The Trump administration has yet to produce a full budget, as required by law, but that is not stopping some top officials from opining about the future course of federal deficits and debt. In ...
The secret ingredient in economic growth is what economists call total factor productivity. You can always increase output by putting more people or more machines to work, but that consumes real ...
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