Measuring technical progress in gross and net products

Pezzey, John C.V

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Measuring technical progress in gross and net products

Authors

Pezzey, John C.V

Publisher

Elsevier

Abstract

On the optimal path of an economy with capital and non-renewable resource inputs, and constant returns output of consumption and investment, the rate of exogenous technical progress in net national product equals the rate of progress in (gross) production,divided by one minus the production elasticity of the resource flow.