Baker, Dean; Rosnick, David - In: International Productivity Monitor 15 (2007) Fall, pp. 41-54
Productivity growth is the main long-run determinant of living standards. However, there are some distinctions between … productivity growth as conventionally measured and the potential of the economy to raise living standards. Specifically, insofar as … the share of depreciation in output increases, the rate of productivity growth will exceed the potential growth rate of …