I have rarely used INSTITUTIONAL Spending pattern. With Industry Spending patterns the sum of coefficients is less than 1.0 In looking at Priv. Colleges & Universities, that sum of coefficients is approx. 0.39, but for S/L Education the sum is 1.0, and largely attributable to the employee payroll element which does not show for Industry spending patterns. Why does the INSTITUTIONAL spending pattern appear to describe all elements of production (labor as well as goods & services purchases) when the INDUSTRY Spending pattern activity doesn't? Thank you.
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