Latest Research

The views expressed in these papers are solely those of the authors and not necessarily those of the U.S. Bureau of Economic Analysis or the U.S. Department of Commerce.

The Increasing Pace of Weather-Related Cost Shocks: Should Net Domestic Product be Affected by Climate Disasters?



The monetary costs of weather and climate disasters in the U.S. grew rapidly from 1980 to 2022, rising more than five percent in real terms annually, and implying a faster depreciation of real assets. We argue that the expected depreciation from these events could be included in consumption of… Read more

By Brian Sliker, Leonard Nakamura

Marketing, Other Intangibles, and Output Growth in 61 United States Industries



Experts in the System of National Accounts (SNA) recently considered whether marketing could be included as a capital asset in the national accounts and later recommended that marketing should be an intangible in the 2025 SNA (IMF, 2022; IMF, 2023). This paper contributes to that discussion by… Read more

By Leo Sveikauskas, Rachel Soloveichik, Corby Garner, Peter B. Meyer, James Bessen, Mathew Russell

A Direct Measure of Medical Innovation on Health Care Spending: A Condition-Specific Approach



While technological innovation is believed to be a key driver of spending growth, measuring this relationship is challenging. We address this challenge using a large database of cost-effectiveness studies, which we use to develop proxy measures of inno- vation for specific conditions. We connect… Read more

By Abe C. Dunn, Lasanthi Fernando, Eli Liebman

Experimental Ultimate Host Economy Statistics for U.S. Direct Investment Abroad



Following international guidelines, BEA statistics on bilateral U.S. direct investment abroad are compiled and presented by immediate partner economy. While this approach is well suited for many purposes, it can lead to difficulty in interpreting direct investment statistics, especially in… Read more

By Kirsten Brew, Jessica Hanson, Ricardo Limés, Ryan Smith, Larkin Terrie