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Página 109
W. Kendrick's estimate that about half of spending on human capital appears in GDP ( Kendrick , 1976 tables A - 1 and B - 2 ) , then the predicted saving rate that corresponds to physical capital becomes 0.23 .
W. Kendrick's estimate that about half of spending on human capital appears in GDP ( Kendrick , 1976 tables A - 1 and B - 2 ) , then the predicted saving rate that corresponds to physical capital becomes 0.23 .
Página 110
suming implicitly that domestic residents own the physical capital buy may obtain part or all of the financing for this stock by issuing bonds to foreigners . The results would be the same if we allowed for direct foreign investment ...
suming implicitly that domestic residents own the physical capital buy may obtain part or all of the financing for this stock by issuing bonds to foreigners . The results would be the same if we allowed for direct foreign investment ...
Página 113
sumed thus far that a = 0.3 , a reasonable value if a corresponds to the share of physical capital in output . Since the collateral for foreign borrowing is likely to be less than the quantity of physical capital , it may be better to ...
sumed thus far that a = 0.3 , a reasonable value if a corresponds to the share of physical capital in output . Since the collateral for foreign borrowing is likely to be less than the quantity of physical capital , it may be better to ...
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Evidence? | 17 |
The Effect of Institutions on Economic Behavior | 409 |
Theory of Contracts | 432 |
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aggregate analysis assume average bank behavior benefits capital central changes choice coefficient condition consumption contract correlation cost countries decision demand depends discussion Economic effect employment equal equation equilibrium estimates evidence example expected firms function given growth higher households important income increase individual industry inflation interest International issue Journal labor less lower marginal mean measure ment monetary Notes observations output percent period player political population positive possible preferences Press probability problem question ratio reduce regression relative reported Research response Review risk rules sample schooling sector shocks significant social spending standard statistically studies suggests Table theory tion trade transfer United University utility variables wage welfare workers