Solow Residual

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August 31, 2024 4 min read Definitions
Solow Residual: Measurement of Technological Progress
Economics Growth Economics Solow Residual Growth Accounting Technological Progress Economic Growth National Income
The Solow Residual is a measure used in economics to quantify the portion of national income growth that cannot be attributed to the growth of labor and capital, often ascribed to technological progress.
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August 31, 2024 4 min read Definitions
Total Factor Productivity: Measurement of Technology in Production
Economics Finance Productivity Technology Solow Residual Cobb-Douglas Economic Growth
Total Factor Productivity (TFP) is the portion of output not explained by inputs in the production process, often interpreted as technological advancement.
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August 25, 2024 4 min read Definitions
Growth Accounting: Measurement of Economic Growth
Economics Finance Economic Growth Productivity Factors of Production Growth Accounting Model Solow Residual
An in-depth explanation of Growth Accounting, a methodology used in economics to isolate the impact of various industries and factors on the growth of an economy.
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