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 Geography of Consumption and Local Economic Shocks: The Case of the Great Recession



We estimate across-county spending flows between firms and consumers for every county in the United States, providing a new consumption link that has not been studied previously. We highlight the importance of this link by estimating the effect of changes in local housing wealth on consumption… Read more

By Abe C. Dunn, Mahsa Gholizadeh

Valuing the U.S. Data Economy Using Machine Learning and Online Job Postings



With the recent proliferation of data collection and uses in the digital economy, the understanding and statistical treatment of data stocks and flows is of interest among compilers and users of national economic accounts. In this paper, we measure the value of own-account data stocks and flows… Read more

By J Bayoán Santiago Calderón, Dylan Rassier

First Quarter Wages and Employment by Industry for Small Businesses Using Establishment-Based Size Classes, 2012–2021



Quarterly Census of Employment and Wages data from the Bureau of Labor Statistics, disaggregated by number of employees in an establishment, are used to estimate first quarter wages and employment by industry for small, medium, and large businesses between 2012 and 2021. This is the first set of… Read more

By Tina Highfill, Richard Cao

Multinational Firms in the U.S. Economy: Insights from Newly Integrated Microdata



This paper describes the construction of two confidential crosswalk files enabling a comprehensive identification of multinational firms in the U.S. economy. The effort combines firm-level surveys on direct investment conducted by the U.S. Bureau of Economic Analysis (BEA) and the U.S. Census… Read more

By Fariha Kamal, Jessica McCloskey, Wei Ouyang