PPT Slide
Corrado, Hulten, and Sichel
“Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change, but our estimates suggest that as much as $800 billion is still excluded from U.S. published data (as of 2003), and that this leads to the exclusion of more than $3 trillion of business intangible capital stock.”
See Carol A. Corrado, Charles R. Hulten, and Daniel E. Sichel, “Measuring Capital and Technology: An Expanded Framework,” Federal Reserve Board, August 2004, and
. . . “Intangible Capital and Economic Growth” NBER Working Paper No. 11948 January 2006