Defining Capital in Growth Models
分析了当技术进步体现在资本中时,如何测量资本存量,指出不同年代的资本非同质,选择何种资本存量度量取决于研究问题。
This article analyzes the measurement of the capital stock when technological advance is embodied in capital. The source of the problem is that capital is not homogeneous across vintages. Which measure of the capital stock to use is dictated by the question being addressed.