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.


Do Price Deflators for High-Tech Goods Overstate Quality Change?

 

 

This paper studies chained price indexes for goods in high-tech sectors, how they handle quality change and whether they will likely suffer from chain drift issues. We argue that chained indexes do not handle quality change properly; though the underlying bilateral indexes hold quality constant… Read more

By Ana M. Aizcorbe, Daniel Ripperger-Suhler
Published

Expanding the Frontier of Economic Statistics Using Big Data: A Case Study of Regional Employment

 

 

Big data offers potentially enormous benefits for improving economic measurement, but it also presents challenges (e.g., lack of representativeness and instability), implying that their value is not always clear. We propose a framework for quantifying the usefulness of these data sources for… Read more

By Abe C. Dunn, Eric English, Kyle K. Hood, Lowell Mason, Brian Quistorff
Published

The Impact of Subsidies on Measuring Productivity and the Sources of Economic Growth

 

 

Taxes and subsidies drive a wedge between prices received and paid by producers and those paid by purchasers. Motivated by the large economic subsidies that were part of the policy response to the COVID-19 pandemic, this paper introduces a new treatment for taxes and subsidies into the BEA-BLS… Read more

By Jon D. Samuels, Corby Garner, Justin Harper
Published

An Application of the Oaxaca-Blinder Decomposition to the Price Deflation Problem

 

 

We apply the Oaxaca-Blinder decomposition method used in the labor literature to split changes in average prices into inflation and quality components. The inflation measure is a full imputation Törnqvist price index. Using this index to deflate nominal spending properly allocates changes in the… Read more

By Ana M. Aizcorbe, Jan de Haan
Published