For Example 10, question 1 for Learning Module 2, Economic Growth. How did they get the alphas for China (0.561), Japan (0.538) and Ireland (0.574)? Where did they get the numbers and what calculations did they use? Thanks!
labour costs = (1- alpha) can be estimated from labour costs as a percentage of total factor cost.
Annoyingy I don’t think we see this figures in the reading until the table in question 2 of example 10.
Thanks!