Research Economist
Rachel Soloveichik
Education
Marketing, Other Intangibles, and Output Growth in 61 United States Industries (PDF)
Leo Sveikauskas , Rachel Soloveichik , Corby Garner , Peter B. Meyer , James Bessen , and Mathew Russell
Capitalizing Data: Case Studies of Tax Forms and Individual Credit Reports (PDF)
Rachel Soloveichik
Natural Resource Exploration as Intangible Investment (PDF)
Rachel Soloveichik
Consumer Prices During A Stay-in-Place Policy: Theoretical Inflation for Unavailable Products (PDF)
Rachel Soloveichik
The internationally agreed guidelines for national economic accounts, System of National Accounts 2008 (hereafter referred to as SNA 2008) (United Nations Statistics Division 2008), explicitly recommend that illegal market activity should be included in the measured economy. This recommendation has not yet been implemented by the U.S. Bureau of Economic Analysis (BEA) because of challenges inherent in identifying suitable source data and differences in conceptual traditions. This paper explores how tracking illegal activity in the U.S. national economic accounts might impact nominal Gross Domestic Product (GDP), real GDP, productivity, and other economic statistics. Nominal GDP rises in 2017 by more than 1 percent when illegal activity is tracked in the U.S. National Income and Product Accounts (NIPAs). By category, illegal drugs add $108 billion to measured nominal GDP in 2017, illegal prostitution adds $10 billion, illegal gambling adds $4 billion, and theft from businesses adds $109 billion. Real GDP and productivity growth also change. Real illegal output grew faster than overall GDP during the 1970s and post–2008. As a result, tracking illegal activity ameliorates both the 1970s economic slowdown and the post–2008 economic slowdown considerably.
Rachel Soloveichik
Accounting for Improved Brick and Mortar Shopping Experiences: (PDF)
Rachel Soloveichik
Measuring the "Free" Digital Economy within the GDP and Productivity Accounts (PDF)
Leonard Nakamura , Jon D. Samuels , and Rachel Soloveichik
Valuing 'Free' Media in GDP: An Experimental Approach (PDF)
Leonard Nakamura , Jon D. Samuels , and Rachel Soloveichik
Copyright-Protected Assets in the National Accounts (PDF)
Rachel Soloveichik and David B. Wasshausen