Satellite Accounts - R&D

This paper translates research and development expenditure data organized based on the Frascati Manual for the U.S. to a measure of gross output consistent with The System of National Accounts 1993. A set of detailed tables translates U.S. survey data on the performance of R&D from the National Science Foundation for 2001.

This paper provides a framework for translating research and development expenditure data organized based on the Frascati Manual to a measure of gross output consistent with The System of National Accounts 1993. This translation sets up the output measures and sectoral framework for the capitalization of R&D expenditures in a Satellite Account.

This paper presents an analysis of an international component in the R&D satellite account. It provides experimental estimates of the impact of treating R&D as investment on several dimensions of international transactions. It also discusses several important conceptual and methodological issues pertaining to the estimates.

This paper discusses how the industry-specific rates of depreciation for R&D used to construct the 2007 R&D Satellite Account were determined after a review of the literature.

This paper is part of a series that provides the details behind the Bureau of Economic Analysis's (BEA) satellite account on research and development (R&D) activity. In the current work, the focus is on the theoretical underpinnings and empirical implementation of the R&D price index used to construct real R&D output. We examine four alternative price indexes. For each, we lay out the theoretical assumptions needed for the approach to be valid and examine how well the approach works in practice. We then compare these four alternative price indexes and explain the choice of our preferred price index.

This paper is part of a series that provides the details behind the Bureau of Economic Analysis's (BEA) satellite account on research and development (R&D) activity. It describes the data and experimental methodology used to create the GDP-by-Industry component of the satellite account for thirteen R&D-intensive industries and an aggregation of all other for-profit industries.

This paper discusses the methodologies used in constructing current-dollar R&D investment in the 2007 R&D Satellite Account. It also provides an overview of the current treatment of R&D in the national economic accounts and discusses how R&D as investment would affect gross domestic product.

This paper discusses the methodologies used in constructing current- and constant-cost R&D net stocks and depreciation flows in the 2007 R&D Satellite Account. It also constructs net rates of return on private assets inclusive of R&D in a manner consistent with recent issues of the Survey of Current Business, and it discusses how such net rates might be constructed to be consistent with the user-cost of production economics.

This paper develops a framework for constructing an R&D output price index. Based on a model of the innovator, we show that the price of innovation is equal to the expected discounted stream of profits attributable to the adoption of the innovation. Using this relationship, we construct an R&D output price index using data on NAICS 5417, Scientific R&D services. We compute that R&D output prices increased, on average, by 5.8 percent at an annual rate from 1987 to 2005. Using our price index, we deflate nominal Scientific R&D services revenues and find that real Scientific R&D services revenues grew at an average rate of 2.6 percent. Finally, we propose deflating total R&D nominal expenditures with two price indexes; use our output-based price index for the portion of total R&D expenditures from NAICS 5417 and an aggregate input-cost price index for the remainder of R&D expenditures. Under this strategy we find that real total R&D expenditures grew at an average annual rate of 1.4 percent. Only using an aggregate input-cost price index understates R&D price growth for NAICS 5417. This boosts the real growth of total R&D expenditures over our time horizon, leading to substantial mis-measurement of total R&D expenditures.