This page provides access to papers and presentations prepared by BEA staff. Abstracts are presented in HTML format; complete papers are in PDF format with selected tables in XLS format. 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.

Investment Funds in the U.S. National Accounts

Investment funds, which include mutual funds, other regulated investment companies, and real estate investment trusts, play an increasingly important role in the U.S. economy, with financial assets of about $23 trillion in 2017. Currently, in the U.S. National Income and Product Accounts (NIPAs… Read more

Robert Kornfeld
Published
JEL Code(s)None Assigned
WP2019-5

Including Illegal Activity in the U.S. National Economic Accounts

The internationally agreed guidelines for national economic accounts, System of National Accounts 2008 (hereafter referred to as SNA 2008) (United Nations Statistics Division 2008), explicitly recommend that illegal market activity should be included in the measured economy. This recommendation… Read more

Rachel Soloveichik
Published
JEL Code(s)None Assigned
WP2019-4

Are Medical Care Prices Still Declining? A Systematic Examination of Quality-Adjusted Price Index Alternatives for Medical Care

More than two decades ago a well-known study provided evidence from heart attack treatments suggesting that prices in medical care were actually declining, when appropriately adjusted for quality. Our paper revisits this subject looking at a large number of conditions and more recent and more… Read more

Seidu Dauda, Abe C. Dunn, Anne E. Hall
Published
JEL Code(s)None Assigned
WP2019-3

Accounting for Improved Brick and Mortar Shopping Experiences:

Brick and mortar retailers spent $484 billion providing “free” shopping experiences in 2016. For example, vehicle dealerships provide “free” test drives, book stores provide “free” book signings and grocery stores provide “free” food samples. To capture the value of “free” shopping experiences,… Read more

Rachel Soloveichik
Published
JEL Code(s)None Assigned
WP2019-2

Improving the Measure of the Distribution of Personal Income

Developing a national account-based measure of the distribution of income from the commonly used Census based concept of money income has been the subject of earlier research. We use publicly available survey and administrative data to construct a distribution of personal income after enhancing… Read more

Dennis J. Fixler, Marina Gindelsky, David Johnson
Published
JEL Code(s)D31, E01
WP2019-1

Benchmark 2011 Integrated Estimates of the Japan-U.S. Price Level Index for Industry Outputs

This paper provides new benchmark estimates of industry-level price differentials between Japan and the U.S. for 2011 based on a bilateral price accounting model anchored to the Japan-US input-output tables. We apply the model to translate available demand-side data on purchaser’s price PPPs for… Read more

Koji Nomura, Kozo Miyagawa, Jon D. Samuels
Published
JEL Code(s)None Assigned
WP2018-15

Accounting for Special District Governments in the U.S. National Accounts

Special district governments are a type of local government that may embody characteristics of both governments and private businesses and are an important source of public services. Given the combined characteristics of special districts and their economic importance, a complete and consistent… Read more

Melissa J. Braybrooks, Tina Highfill, Dylan Rassier
Published
JEL Code(s)E01
WP2018-14

Estimating Extended Supply-Use Tables in Basic Prices with Firm Heterogeneity for the United States: A Proof of Concept

This paper presents proof-of-concept trade-in-value added (TiVA) statistics estimated from extended supply-use tables for the United States that account for firm heterogeneity. The tables used to estimate the TiVA statistics extend recently-introduced supply-use tables for the United States by… Read more

James J. Fetzer, Thomas F. Howells III, Lin Z. Jones, Erich H. Strassner, Zhi Wang
Published
JEL Code(s)L16
WP2018-12

Accounting for Firm Heterogeneity within U.S. Industries: Extended Supply-Use Tables and Trade in Value Added using Enterprise and Establishment Level Data

This paper presents experimental trade-in-value added statistics estimated from extended supply-use tables (SUTs) for the United States for 2005 and 2012 that account for firm heterogeneity. The tables used to estimate the TiVA statistics extend supply-use tables for the United States by… Read more

James J. Fetzer, Tina Highfill, Kassu W. Hossiso, Thomas F. Howells III, Erich H. Strassner, Jeffrey A. Young
Published
JEL Code(s)L16
WP2018-13

Improving the Analysis of Randomized Controlled Trials: a Posterior Simulation Approach

The randomized controlled trial (RCT) is the standard for establishing efficacy and tolerability of treatments. However, the statistical evaluation of treatment effects in RCTs has remained largely unchanged for several decades. A new approach to Bayesian hypothesis testing for RCTs that… Read more

Jeffrey A. Mills, Gary Cornwall, Beau A. Sauley, Jeffrey R. Strawn
Published
JEL Code(s)None Assigned
WP2018-9