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Equation

(8) The change in trend in value added to sales (VA/S) is equal to .305 minus .0003 multiplied by t plus .0035 multiplied by D multiplied by t where t is a time trend and D is a dummy variable equal to 1 for years starting in 1984. The t-statistic on the constant is 42.7. The t-statistic on the time trend variable, (t) is negative .5, and 6.7 for the dummy variable multiplied by the time trend. The adjusted R-squared value is .89.

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Updated June 25, 2015

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