Estimating Prices for R&D Investment in the 2007 R&D Satellite Account
AbstractThis paper is part of a series that provides the details behind the Bureau of Economic Analysis's (BEA) satellite account on research and development (R&D) activity. In the current work, the focus is on the theoretical underpinnings and empirical implementation of the R&D price index used to construct real R&D output. We examine four alternative price indexes. For each, we lay out the theoretical assumptions needed for the approach to be valid and examine how well the approach works in practice. We then compare these four alternative price indexes and explain the choice of our preferred price index.
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Bibliographic InfoPaper provided by Bureau of Economic Analysis in its series BEA Papers with number 0083.
Date of creation: Nov 2007
Date of revision:
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- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
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