Putty-Clay Capital and an Index of Capital per Hour: Working Paper 2005-08

Mark Lasky

No 16575, Working Papers from Congressional Budget Office

Abstract: This paper presents an index of capital per hour constructed using the assumption of putty-clay capital. That index is based on an aggregate putty-clay production function that both preserves the desirable empirical properties of putty-clay models and yields a closed-form solution for aggregate investment as a function of aggregate variables. The key to the production function is an index of capital per hour that is a logarithmic average of the ratios of capital to labor embodied in each unit of capital. That index separates out the capital-deepening portion of investment (

Date: 2005-06-01
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.cbo.gov/sites/default/files/109th-cong ... gpaper/2005-08_0.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbo:wpaper:16575

Access Statistics for this paper

More papers in Working Papers from Congressional Budget Office Contact information at EDIRC.
Bibliographic data for series maintained by ().