Framework for an Industry-based R&D Satellite Account
This paper introduces a proposed framework for estimating an Industry-based R&D Satellite Account (IRDSA). The IRDSA builds on the preliminary Research and Development Satellite Account (R&DSA) released in September 2006, and provides industry and commodity detail. It adapts the U.S. input-output (I-O) accounts to present a consistent and systematic framework to assess the role of R&D in the economy at both an industry and commodity level. Inclusion of R&D in the industry accounts provides the framework for examining differences among industries’ investments in R&D and the impact of these investments on GDP by industry. It shows the sources of R&D output, R&D industry value added (gross output minus intermediate inputs), and R&D final uses. It allows a detailed look at the composition of R&D funding and performance across industries and the development of improved R&D deflators. In the longer term, the framework can be used as a basis for incorporating R&D into the core national economic accounts.
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- Carol Corrado & John Haltiwanger & Dan Sichel, 2005. "Measuring Capital in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number corr05-1.
- Adam M. Copeland & Gabriel W. Medeiros & Carol A. Robbins, 2007. "Estimating Prices for R&D Investment in the 2007 R&D Satellite Account," BEA Papers 0083, Bureau of Economic Analysis.
- Corrado, Carol & Haltiwanger, John & Sichel, Daniel (ed.), 2005. "Measuring Capital in the New Economy," National Bureau of Economic Research Books, University of Chicago Press, edition 0, number 9780226116129, February.
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