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INTANGIBLE ASSETS AND NATIONAL INCOME ACCOUNTING
Author(s) -
Nakamura Leonard I.
Publication year - 2010
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.2010.00390.x
Subject(s) - economics , deflation , national accounts , measures of national income and output , point (geometry) , divergence (linguistics) , national income and product accounts , accounting , macroeconomics , monetary policy , linguistics , philosophy , geometry , mathematics
In this paper I relate the measurement of intangibles to the project of measuring the sources of growth. I focus on three related and difficult areas of the measurement of national income: the measurement of new goods, the deflation of intangible investment, and the divergence between the social and private valuations of intangible assets. I argue that the economic theory and practice underlying measurement of these items is currently controversial and incomplete, and I point toward how concretely to move forward.