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.


Concepts and Challenges of Measuring Production of Artificial Intelligence in the U.S. Economy

 

 

Much of the current literature on the economic impact of Artificial Intelligence (AI) focuses on the uses of AI, but little is known about the production of AI and its contribution to economic growth. In this paper, we discuss basic concepts and challenges related to measuring the production of… Read more

By Tina Highfill, David B. Wasshausen, Gregory Prunchak
Published

Radio Spectra as Telecommunications Assets

 

 

This paper demonstrates that the measured wealth stock of the United States increases by $2 trillion in 2022 when radio spectra are included on the balance sheet. Furthermore, this paper also demonstrates that tracking radio spectra can impact the National Income and Product Accounts (NIPAs)… Read more

By Rachel Soloveichik
Published

How Much Are Medical Innovations Worth? A Detailed Analysis Using Cost-Effectiveness Studies

 

 

Medical innovation is a key driver of cost growth and improved life expectancy, but measuring the welfare contribution of innovations is challenging. We leverage thousands of medical studies to estimate the quality of treatments for 13 health conditions and combine these estimates with insurance… Read more

By Abe C. Dunn, Lasanthi Fernando, Eli Liebman
Published

Consumer Learning and Price Index Bias: How Diffusion of Product Quality Knowledge Impacts Measures of Price Change

 

 

There is a general consensus that the bias associated with the entry of new merchants has nontrivial implications for measuring inflation. However, quantifying the bias empirically has proven difficult in part because little is known about how much of the price differences in goods sold by new… Read more

By Daniel Ripperger-Suhler
Published