Measuring Capital in the New Economy
Carol Corrado, John Haltiwanger, and Daniel Sichel
Abstract
As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. This book offers new approaches f ... More
As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. This book offers new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the chapters show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed analysis of the problem and its solutions, the chapters study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.
Keywords:
intangible assets,
high-technology investments,
high-technology capital,
technological advancement,
United States' economy,
measuring capital,
economists,
policymakers,
financial community,
accounting community
Bibliographic Information
| Print publication date: 2005 |
Print ISBN-13: 9780226116129 |
| Published to Chicago Scholarship Online: February 2013 |
DOI:10.7208/chicago/9780226116174.001.0001 |
