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Welfe Władysław
Knowledge capital and total factor productivity
Department of Applied Econometrics Working Papers, 2007, nr 2, 24 s., bibliogr. 45 poz.
Słowa kluczowe
Produktywność czynników wytwórczych, Gospodarka oparta na wiedzy (GOW), Postęp techniczny, Kapitał ludzki, Modele makroekonomiczne
Total Factor Productivity (TFP), Knowledge-based economy, Technical progress, Human capital, Macroeconomic models
Development of "new economies" leading to economies mostly based on knowledge implies the construction of new long-term macroeconometric models. They should incorporate the impacts of new technologies being endogenized, as well as human capital. The paper discusses several issues related to the extension of the notion of production function. They cover first of all the measurement and explanation of total factor productivity (TFP), the role of domestic and foreign R&D expenditures, as well as educational expenditures. The discussion is extended to include proposals to construct new submodels explaining the sections of research and education and also the ICT industries.(original abstract)
Pełny tekst
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