Estimates of relative joint factor productivity from (4) are subject to the usual limitations of growth accounting, in particular its dependence on the assumptions of price taking behaviour and constant returns to scale.
Table 5 shows the percent of relative labour productivity explained by differences in physical capital and relative joint factor productivity for 1989.
The manufacturing joint factor productivity gap also remains large against France and Japan but is close to being eliminated against Germany.
We will be interested to see if this is also true for joint factor productivity at the aggregate level and for both labour and joint factor productivity in manufacturing.
The joint factor productivity ratio between the two countries is estimated on the basis of Solow's traditional specification of the Cobb-Douglas production function, with weights for labour and capital which represent the factor shares in total GDP.
Chart 1 compares the labour productivity series with the series showing joint factor productivity from 1968 to 1990.
Census value added per hour worked, capital intensity and joint factor productivity, United Kingdom/United States, 1987 UK value UK capital UK joint added stock factor (net output) per hour productivity per hour worked worked 1968 49.
The last column of Table 1 shows that the joint factor productivity gap is somewhat smaller than the labour productivity gap between the two countries, i.
On her turn, the Lithuanian Vice Minister of Foreign Affairs said that this meeting is a great opportunity to discuss joint factors
between the two countries in the investment aspect and address the trade services and facilities rendered by the authority for foreign investors.
The Minister said that the state's sovereignty, independence, rejection of foreign interference and countering terrorism are the principles which can't be rejected by any nationalistic person, indicating that the coalition delegation to Geneva 2 called "opposition" refused these principles, the matter which affirms that it does not want any joint factors
that could be built upon.
The joint factors
of lower prices and shortage of buy-to-let mortgages have restored a welcome emphasis on owner-occupiers and family accommodation, and Ben Bailey says it detects much greater demand for houses instead of previously popular typical two-bedroom apartments.
Speaking to Anadolu Agency on the cooperation, Yilmazkan added that these documentary programs will focus on the joint factors
in the Syrian and Turkish cultures, indicating that the Syrian TV would provide all the facilities for shooting and preparing these programs.