Measuring Capital in the New Economy

Measuring Capital in the New Economy

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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. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors 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.Carol Corrado, John Haltiwanger, Daniel Sichel ... For instance, in late 1991, 9600-baud analog modems were introduced, followed by 14400-baud modems in 1992Q3 and 28800- baud ... The speed of the signals is dictated by the speed of electricity over copper wires, whereas the signal can be modified and refined toanbsp;...

Title:Measuring Capital in the New Economy
Author:Carol Corrado, John Haltiwanger, Daniel Sichel
Publisher:University of Chicago Press - 2009-02-15


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