In modern economies, technical change is rapid and competitive edges of companies are closely related to 'intangible' capital. While some intangibles are covered by established capital measures in the national accounts, many are outside the measurement boundary. The NBER volume at hand brings together the most up-to-date empricial and conceptual work that aims at measuring intangibles comprehensively. The different articles show that there is neither a single definition nor a single method to measure intangibles. This is not surprising given the very nature of these assets. The many challenges for measurement also mean that more work needs to be done before considering a broad set of intangibles assets for recognition in the national accounts. This reduces in no way the value of current and future research on the issue and the NBER volume constitutes an excellent reference for analysts and national accountants.
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Find related papers by JEL classification: Y3 - Miscellaneous Categories - - Book Reviews C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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