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Not sure if this is 100% correct but as I understand this concept:
The Solow Residual is a measure of increase in technology. Constant returns to scale means that you are using the same technology base (basically no new innovation) which is why the Solow residual is 0 when assuming this. The only things that affect growth in GDP when technology growth is 0 are capital inputs, and labor inputs. |
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发表于 2011-7-11 19:32
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