Equation 14 · Part 2 · Selection Accounting: The Price Equation Runs the Economy
subscript
subscript
What this part means
The lower label selects a particular version, component, or indexed member of the quantity. For example, x₀ and xₜ can be values at different positions.
Its job in the formula
A subscript distinguishes a version, component, step, or member of a quantity. It does not automatically mean multiplication.
Full expression→subscript→Article meaning
The passage around this formula
This bears directly on the declining-dynamism debate. U.S. business concentration has risen over the same decades that startup rates and job reallocation have fallen [ 12 ] , and Proposition 4 says that falling mechanically widens the drift band that any measured selection term must clear before it means anything. An economy moving toward the concentrated end of the range above is not only changing its market structure; it is degrading the statistical power of every reallocation decomposition run on the resulting data, exactly when reallocation is the thing everyone most wants to measure precisely.
Learn the underlying idea
A subscript is a label attached below a symbol. It often selects a time step, component, category, or member of a sequence.
Open the illustrated subscripts: which member of a family? guide →
Sources cited in the surrounding passage
These citations provide research context; check each source for the exact claim it supports.