Seeing that the role and profitability of businesses change as time passes, firms are able to increase the added value per worker – in other words, to increase wages and shareholder returns – by creating highly profitable businesses and shifting their resources to those businesses, instead of fixing personnel and capital to businesses with low profits.
On our part, we in the RBI are in close touch with the School with a view to obtaining their expertise in the process of monetary policy formulation. Thank you. 12  BIS Review 105/2007