Understanding the Solow residual in economic growth accounting, its importance, and applications.
Understanding the Solow residual in economic growth accounting, its importance, and applications.
capital-augmenting technical progress - See technical progress
Improvements in technical knowledge that increase output without needing new equipment investments.
Improvements in technical knowledge exploited through investment in new equipment.
An in-depth look at the concept of factor-augmenting technical progress in economics, exploring its definition, historical context, and various analytical frameworks.
A method used to determine the contribution of each factor of production to the growth of output.
An economic concept where technological progress increases labor productivity but leaves the capital-output ratio unchanged.
Understanding Hicks-neutral technical progress, where average and marginal products of all factors increase in the same proportion for given factor proportions.
Technical progress that increases the effective labour input in production functions.
Improvement in knowledge about techniques for production, allowing for more output or efficiency.
