PKAP - What does PKAP stand for? The Free Dictionary
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The prices of other inputs include the wage earned by non-nurse labor (OTHWAG) and the price of capital (PKAP).
The coefficient on OTHWAG indicates that nurses and non-nurse labor are gross complements; that on PKAP suggests that there is little substitution between nurses and capital.
PKAP is hospital nonpayroll expenditures divided by hospital beds.