![](https://webarchive.library.unt.edu/eot2008/20081029061630im_/https://www.bea.gov/beawebstyle/images/spacer.gif) |
Abstract
Information Processing Equipment and
Software in the National Accounts, by Bruce T. Grimm, Brent R. Moulton,
and David B.Wasshausen
Presented at the Conference on Measuring Capital in the New Economy, sponsored
by the NBER/CRIW, April 26-27, 2002, Federal Reserve Board, Washington,
D.C.
In the U.S. national income and product accounts (NIPA's), most of the
types of goods in the investment category "information processing
(IP) equipment and software" have experienced rapidly changing technology
and are thus candidates for inclusion in the new economy. The NIPA price
indexes for computers and peripheral equipment, computer software, and
communication equipment all, at least in part, include quality adjustments
based on hedonic studies. In addition, anecdotal evidence strongly indicates
that instruments have also have undergone substantial quality improvements,
although no hedonic quality adjustments are currently being made to their
prices. Together, these goods make up more than nine-tenths of the category.
There is also some evidence that there have been substantial quality improvements
for the remaining two types of goods in the category, photocopy and related
equipment and office and accounting equipment. In order to facilitate
research leading to improved measurement of information technology, this
paper discusses the relationship between private fixed investment in IP
equipment and software and GDP, explains how the current- and constant-dollar
estimates are prepared, and finally assess recent progress in measurement
and plans for improvement.
![](https://webarchive.library.unt.edu/eot2008/20081029061630im_/https://www.bea.gov/beawebstyle/images/between_dots_repeat.gif) |
Last changed:
May 07, 2002
|
![](https://webarchive.library.unt.edu/eot2008/20081029061630im_/https://www.bea.gov/beawebstyle/images/spacer.gif) |