The production relationship is estimated by regression using quarterly data over the 1993-2002 period. Thus, unlike that of TDRI and AFO, this study incorporates a more restricted production function framework of fixed coefficients with no allowance for a secular component of TFP growth. The result for the aggregate economy is a relationship that assigns a weight of 0.51 to non-IT capital, 0.13 to IT-capital, and 0.36 to labor. The relatively large weight attached to capital is virtually guaranteed by the exclusion of any independent trend or other allowance for changes in TFP: capital is the only right-hand-side variable that is growing at a rate approaching that of output.