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.

Tracking Cultivated Assets in Measures of Capital

Americans invested $72 billion in cultivated assets in 2019.  By category, investment was: $7 billion in long-lived food animals, $2 billion in horses, $10 billion in farm plants, and $53 billion in landscaping plants.  System of National Accounts 2008, the internationally agreed… Read more

Rachel Soloveichik
Published
JEL Code(s)E01, O17, Q1
WP2021-6

Tracking Marijuana in the National Accounts

The internationally agreed guidelines for national economic accounts, System of National Accounts 2008 (United Nations Statistics Division 2008), explicitly recommend that illegal market activity should be tracked together with legal market activity. This recommendation is not currently… Read more

Rachel Soloveichik
Published
JEL Code(s)E01, O17, Q19
WP2021-5

Estimating Regional Price Parities Using New Data on Medical Goods and Services

I report on a project to improve estimates of Regional Price Parities (RPPs) by making use of a large commercial dataset on health care prices, the Health Marketscan dataset. Using the new data, I obtain estimates of regional price levels for health related goods and services that are stable… Read more

James P. Choy
Published
JEL Code(s)E31
WP2021-4

Work Context and Industrial Composition Determine the Epidemiological Responses in a Multi-Group SIR Model

Key economic indicators, such as GDP and unemployment rates, provide a useful backdrop for assessing the state of the economy. However, more nuanced statistics can be of use during the COVID-19 pandemic. In this paper, we extend the domain of relevance for economic statistics by developing a… Read more

Juan Moreno-Cruz
Published
JEL Code(s)I10
WP2020-13

Assessing Residual Seasonality in the U.S. National Income and Product Account Aggregates

There is an ongoing debate on whether residual seasonality is present in the estimates of real Gross Domestic Product (GDP) in U.S. national accounts and whether it explains the slower quarter-one GDP growth rate in the recent years. This paper aims to bring clarity to this topic by 1)… Read more

Baoline Chen, Tucker S. McElroy, Osbert C. Pang
Published
JEL Code(s)E01
WP2021-2

Alternative Price and Volume Measures for Commercial Bank and Fund Management Services

In the U.S. National Income and Product Accounts, commercial bank and fund management services grew modestly or declined in volume terms after 2008, despite substantial increases in the levels of assets and liabilities managed by these businesses. These estimates of limited growth result partly… Read more

Robert Kornfeld
Published
JEL Code(s)E01
WP2021-01

Preliminary Estimates of the U.S. Space Economy, 2012–2018

 

 
Tina Highfill, Annabel Jouard, Connor Franks
Published
JEL Code(s)None Assigned

Consumer Prices During A Stay-in-Place Policy: Theoretical Inflation for Unavailable Products

Major product categories like full service restaurant meals, live entertainment, and nonessential personal services are unavailable during a stay-in-place policy. As a result, their inflation rates cannot be measured directly. The standard methodology used by the Bureau of Labor Statistics (BLS… Read more

Rachel Soloveichik
Published
JEL Code(s)E31
WP2020-14

Measuring Inequality in the National Accounts

This paper provides context for the Bureau of Economic Analysis (BEA) prototype estimates of the distribution of income. It describes measurement questions, such as what concept of income should be used, and a summary of the results for the 2007–2018 period. The paper also presents a… Read more

Dennis J. Fixler, Marina Gindelsky, David Johnson
Published
JEL Code(s)None Assigned
WP2020-3

Measuring Infrastructure in the Bureau of Economic Analysis National Economic Accounts

Infrastructure provides critical support for economic activity, and assessing its role requires reliable measures. This paper provides an overview of U.S. infrastructure data in the National Economic Accounts. After developing definitions of basic, social, and digital infrastructure, we assess… Read more

Jennifer Bennett, Robert Kornfeld, Daniel E. Sichel, David B. Wasshausen
Published
JEL Code(s)E22
WP2020-12