Intangibles: what put the new in the new economy?
AbstractGenerating new products requires corporations to spend very large sums of money. These expenditures often lead to the development of intangible assets, such as patents and copyrights, that can add considerably to a company's coffers and stock market value. However, in general, our accounting conventions do not recognize these expenditures as investments--a holdover from the days when these types of investments were a negligible portion of total investment. Leonard Nakamura argues that these conventions cause profits and savings to be understated and that correcting them makes U.S. economic and financial performance more comprehensible
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Federal Reserve Bank of Philadelphia in its journal Business Review.
Volume (Year): (1999)
Issue (Month): Jul ()
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Leonard I. Nakamura, 1995. "Measuring inflation in a high-tech age," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 13-25.
- Jason G. Cummins, 2003.
"A New Approach to the Valuation of Intangible Capital,"
NBER Working Papers
9924, National Bureau of Economic Research, Inc.
- Jason G. Cummins, 2005. "A New Approach to the Valuation of Intangible Capital," NBER Chapters, in: Measuring Capital in the New Economy, pages 47-72 National Bureau of Economic Research, Inc.
- Jason G. Cummins, 2004. "A new approach to the valuation of intangible capital," Finance and Economics Discussion Series 2004-17, Board of Governors of the Federal Reserve System (U.S.).
- Carol A. Corrado & Charles R. Hulten & Daniel E. Sichel, 2006.
"Intangible Capital and Economic Growth,"
NBER Working Papers
11948, National Bureau of Economic Research, Inc.
- Alfredo Martín-Oliver & Vicente Salas-Fumas, 2007. "How do intangible assets create economic value? an application to banks," Banco de Espaï¿½a Working Papers 0730, Banco de Espa�a.
- Stephen D. Oliner & Daniel E. Sichel & Kevin J. Stiroh, 2007.
"Explaining a Productive Decade,"
Brookings Papers on Economic Activity,
Economic Studies Program, The Brookings Institution, vol. 38(1), pages 81-152.
- Carol Corrado & Charles Hulten & Daniel Sichel, 2004.
"Measuring capital and technology: an expanded framework,"
Finance and Economics Discussion Series
2004-65, Board of Governors of the Federal Reserve System (U.S.).
- Carol Corrado & Charles Hulten & Daniel Sichel, 2005. "Measuring Capital and Technology: An Expanded Framework," NBER Chapters, in: Measuring Capital in the New Economy, pages 11-46 National Bureau of Economic Research, Inc.
- Christophe Boucher, 2003. "La valorisation des sociétés de la Nouvelle économie par les options réelles : vertiges et controverses d’une analogie," Revue d'Économie Financière, Programme National Persée, vol. 72(3), pages 299-315.
- Robert Hunt, 1999. "Patent reform: a mixed blessing for the U.S. economy?," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 15-29.
- Gema Pastor-Agustin & Manuel Espitia-Escuer & Marisa Ramirez-Aleson, 2007. "A Q Model Investment System in Material and Immaterial Assets," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 43-64.
- Supriyo De, 2007. "Software Production, Human Capital and Endogenous Growth: Theoretical Analysis and Empirical Evidence from India," DEGIT Conference Papers c012_007, DEGIT, Dynamics, Economic Growth, and International Trade.
- Demetrios Eliades & Olaf Weeken, 2005. "The stock market and capital accumulation: an application to UK data," Bank of England working papers 251, Bank of England.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Beth Paul).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.