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An example of "embodied technical change" is
Yield-To-Maturity
Yield-to-maturity (YTM) is the total return anticipated on a bond if the bond is held until it matures, incorporating both interest payments and the capital gain or loss realized upon maturity.
Zero-Coupon Bond
A bond bought at a price lower than its face value, with no recurring interest payments, that matures at its face value.
Yield To Maturity
The total return anticipated on a bond if the bond is held until it matures, incorporating all interest payments and the repayment of principal, expressed as an annual rate.
Imputed Interest
Interest that is considered to be paid for tax purposes, even though no actual interest payment has been made, often applied to below-market or interest-free loans.
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