The current-cost adjustment to direct investment income and capital was revised to reflect revised estimates of economic depreciation and updated source data for historical-cost depreciation and for expensed exploration and development expenditures reported by direct investment affiliates. The updated estimates largely reflected revised prices for equipment and structures investment in the United States from the 1999 comprehensive revision of BEA’s national income and product accounts and revised prices for equipment and structures investment in foreign countries. The work extended the significant improvements to the current-cost adjustment that were made in 1999. Estimates were revised for 1982-1999.
Published