The BEA Advisory Committee advises the Director of BEA on matters related to the development and improvement of BEA's national, regional, industry, and international economic accounts, especially in areas of new and rapidly growing economic activities arising from innovative and advancing technologies, and provides recommendations from the perspectives of the economics profession, business, and government.

Upcoming Meetings

  • May 14, 2021

November 13, 2020 – Virtual Meeting

 Watch the November 13 meeting.

 

Time Topics Speakers  
10:00 AM - 10:20 AM Welcome & Bureau Update
  • Dan Sichel
  • Mary Bohman
10:20 AM - 11:00 AM BEA's response to COVID-19: Enhanced Products and Early Research
  • Erich Strassner
  • Full Committee Discussion

PresentationBEA's Response to COVID-19: Enhanced Products and Early Research by Erich Strassner

BackgroundNew data highlighting the effects of Selected Federal Pandemic Response Programs

Second Quarter Industry, State GDP Stats Come Earlier This Year

COVID Session Discussion Questions

11:00 AM - 11:10 AM Break

 

 

11:10 AM - 12:15 PM

Measuring the Small Business Economy

  • Tina Highfill
  • Discussants:
  • Richard Prisinzano University of Pennsylvania
  • Danny Leung Statistics Canada
  • John Haltiwanger University of Maryland

Presentation Measuring the Small Business Economyby Tina Highfill

Presentation Small Business Identification: How and Whyby Richard Prisinzano

Presentation Measuring the Contribution of Small Businesses to the Canadian Economyby Danny Leung

Presentation BEA Satellite Account on Small Business Activityby John Haltiwanger

BackgroundMeasuring the Small Business Economy

Experimental Estimates of Wages and Gross Output by Business Size and Industry, 2002-2012

Background Information for BEA's Small Business Satellite Account

12:15 PM - 1:00 PM Lunch

 

 

1:00 PM  -   2:00 PM Prototype GDP Statistics for Puerto Rico
  • Aya Hamano
  • Amy Filipek
  • Discussants:
  • Ricardo FuentesFinancial Oversight & Management Board for Puerto Rico
  • Barry P. Bosworth
  • Juan Bauza Economic Development Administration

Presentation Puerto Rico GDP Project: Prototype Estimates For 2012–2018by Aya Hamano and Amy Filipek

Presentation BEA GDP Accounts for Puerto Rico, 2012-2018by Barry Bosworth

BackgroundPrototype Gross Domestic Product for Puerto Rico, 2012-2018

Technical Note

Summary of Methods

2:00 PM Adjournment    

About the Committee

The BEA Advisory Committee advises the Director of BEA on matters related to the development and improvement of BEA's national, regional, industry, and international economic accounts, especially in areas of new and rapidly growing economic activities arising from innovative and advancing technologies, and provides recommendations from the perspectives of the economics profession, business, and government.

Committee Members

Appointed: April 2015

Current Term Ends: April 1, 2021

Daniel E. Sichel

Wellesley College

BEA’s Advisory Committee Chairman

Dan Sichel is a professor of economics at Wellesley College. He is a Research Associate at the National Bureau of Research and serves on the Executive Committee of the Conference on Income and Wealth.

As an economist at the Federal Reserve Board, 1988–1993 and 1996-2012, he worked on a range of macroeconomic issues, including helping to guide the Fed's forecasts and analysis of the U.S. economy. He served as assistant to the chair of the Airline Transportation Stabilization Board, which provided loan guarantees to airlines that suffered losses from the 9/11 terrorist attacks.

While at the Brookings Institution, Sichel wrote The Computer Revolution, a book that analyzed the relationship between information technology and economic growth. He also served as Deputy Assistant Secretary for Macroeconomic Policy at the U.S. Treasury.

He has written about economic measurement, technology and economic growth, and macroeconomics.

Sichel received a Ph.D. in economics from Princeton University and a bachelor's degree in economics and master's degree in public policy from the University of Michigan.

Appointed: May 2014

Current Term Ends: April 30, 2023

Katharine G. Abraham

University of Maryland

Katharine G. Abraham is professor of economics and survey methodology and director of the Maryland Center for Economics and Policy at the University of Maryland. She served as commissioner of the Bureau of Labor Statistics, 1993–2001, and as a member of the President's Council of Economic Advisers, 2011–13. 

Abraham served as chairperson of the Commission on Evidence-Based Policymaking, helping Congress develop a strategy for using data to evaluate the government's effectiveness. She also serves on standing academic advisory committees convened by the Congressional Budget Office and the Federal Reserve Bank of Chicago. 

She is a research associate of the National Bureau of Economic Research and an elected fellow of the American Statistical Association and the Society of Labor Economists. 

Her research areas include the work and retirement decisions of older Americans and the effects of financial aid on college attendance.

She received her Ph.D. in economics from Harvard University and her B.S. from Iowa State University.

Appointed: October 2003

Current Term Ends: September 30, 2021

Alan J. Auerbach

University of California, Berkeley

Alan J. Auerbach is the Robert D. Burch Professor of Economics and Law, director of the Burch Center for Tax Policy and Public Finance, and former chair of the Economics Department at the University of California, Berkeley. He is also a research associate of the National Bureau of Economic Research and previously taught at Harvard and the University of Pennsylvania.

Auerbach was deputy chief of staff of the U.S. Joint Committee on Taxation in 1992 and has been a consultant to government agencies and institutions in the United States and abroad.

He served as an executive committee member and vice president of the American Economic Association; as editor of that association's Journal of Economic Perspectives and American Economic Journal: Economic Policy; and as president of the National Tax Association, receiving the Daniel M. Holland Medal.

He received his Ph.D. in economics from Harvard University and his B.A. in economics and mathematics from Yale University.

Appointed: October 2003

Current Term Ends:  September 30, 2021

Barry P. Bosworth

The Brookings Institution

Barry Bosworth is a senior fellow in the Economic Studies Program (the Robert V. Roosa Chair in International Economics) at the Brookings Institution in Washington, D.C.

He was director of the President's Council on Wage and Price Stability, 1977–79; a visiting lecturer at the University of California, Berkeley; an assistant professor at Harvard University; and an economist for the White House Council of Economic Advisers, 1968–69.

His research has involved the determinants of economic growth in developing countries, saving, capital formation, and productivity growth.

Some recent publications include: The Decline in Saving: A Threat to America's Prosperity? (2012); The Economy of Puerto Rico: Restoring Growth, with Susan Collins and Miguel A. Soto-Class (2006); Productivity in the U.S. Services Sector: New Sources of Economic Growth, with Jack Triplett (2004); and "Accounting for Growth: Comparing China and India," (with Susan Collins) Journal of Economic Perspectives (2008).

Bosworth received his B.A. and Ph.D. from the University of Michigan.

Appointed: October 2003

Current Term Ends: September 30, 2021

Robert J. Gordon

Northwestern University

Robert Gordon is the Stanley G. Harris Professor of the Social Sciences at Northwestern University. He is a macroeconomist whose interests include unemployment, inflation, and the long-run and cyclical aspects of labor productivity.

For more than three decades, he has been a member of the National Bureau of Economic Research's Business Cycle Dating Committee. He served on the Boskin Commission to assess the accuracy of the U.S. Consumer Price Index. He is the author of a textbook in intermediate macroeconomics, now in its 12th edition. His new book is The Rise and Fall of American Growth.

Gordon is a fellow of the Econometric Society and the American Academy of Arts and Sciences and a Distinguished Fellow of the American Economic Association. In 2016, Bloomberg named him to its annual list of 50 most influential people.

Gordon received his Ph.D. in economics from the Massachusetts Institute of Technology, a B.A. from Oxford University, and a B.A. from Harvard University.

Appointed: November 2020

Current Term Ends: November 1, 2023

Julia Coronado

MacroPolicy Perspectives

Julia Coronado is president and founder of the economic research firm MacroPolicy Perspectives LLC and a clinical associate professor at the McCombs School of Business at the University of Texas at Austin.

Previously, she was chief economist at Graham Capital Management and the global investment bank BNP Paribas, and a senior economist at Barclays Capital. She served as a staff economist at the Federal Reserve Board.

Coronado has published scholarly articles about pension finances, Social Security, retirement saving, data collection, and monetary policy. She is a member of the Economic Advisory Panel of the Federal Reserve Bank of New York and the Economic Studies Council at the Brookings Institution.

She served on the board of the National Association of Business Economists and as president of the New York Association of Business Economists.

Coronado received her B.A. in economics from the University of Illinois at Urbana-Champaign and her Ph.D. from the University of Texas at Austin.

Appointed: October 2003

Current Term Ends: September 30, 2022

Maurine A. Haver

Haver Analytics, Inc.

Maurine Haver is founder of Haver Analytics, an economic information services company. Haver Analytics provides time series economic data, maintaining more than 200 complex databases with information from more than 1,200 government and private sources, and has an extensive offering of forecast data covering the world's economies.

Haver is a member of the Bureau of Labor Statistics' Data Users Advisory Committee and served on the Financial Research Advisory Committee, advising the Treasury Department about analyzing systemic financial risk. She is the past chair of the Council of Professional Associations on Federal Statistics.

Previously, she was an economist in the economic forecasting group of General Electric in New York, a member of the International Staff of Compagnie Bull General Electric in Paris, and a consultant at Chase Manhattan Bank in London. She served as president of the National Association of Business Economists, 1994–95, and chair of the NABE Statistics Committee.

Appointed: October 2003

Current Term Ends: September 30, 2021

Dale W. Jorgenson

Harvard University

Dale W. Jorgenson is the Samuel W. Morris University Professor at Harvard University.

He is a former president and distinguished fellow of the American Economic Association and was awarded the association's John Bates Clark Medal.

His research includes work on information technology and economic growth, energy and the environment, tax policy and investment behavior, and applied econometrics. He's the author of more than 300 articles in economics and author or editor of 37 books.

He was a founding member of the Board on Science, Technology, and Economic Policy of the National Research Council and also served as board chairman. He was elected to fellowship in the American Association for the Advancement of Science, the American Statistical Association, and the Econometric Society, where he also served as president.

Jorgenson was chairman of Harvard's Department of Economics, 1994–97. He received a B.A. in economics from Reed College in Portland, Ore., and his Ph.D. from Harvard University.

Appointed: May 2010

Current Term Ends: April 30, 2021

Ellen R. McGrattan

Federal Reserve Bank of Minneapolis

Ellen McGrattan is a consultant at the Federal Reserve Bank of Minneapolis, a professor of economics at the University of Minnesota, and director of the Heller-Hurwicz Economics Institute.

She is a research associate at the National Bureau of Economic Research, a fellow of the Econometric Society, a fellow of the Society for the Advancement of Economic Theory, and president-elect of the Midwest Economics Association.

 

McGrattan's research is concerned with the aggregate effects of monetary and fiscal policy, in particular the effects on GDP, investment, the allocation of hours, the stock market, and international capital flows. Her recent work reexamines some business cycle puzzles in macroeconomics, considering the fact that some investments are unmeasured.

She has taught at Duke University, European University Institute, University of Pennsylvania, Stockholm School of Economics, and the International Monetary Fund, among others.

McGrattan received her B.S. in economics and mathematics from Boston College and her Ph.D. from Stanford University.

Appointed: May 2010

Current Term Ends: May 1, 2023

Therese J. McGuire

Northwestern University

Therese J. McGuire is professor of strategy at the Kellogg School of Management at Northwestern University.

McGuire's areas of expertise are state and local public finance, fiscal decentralization, property tax limitations, education finance, and regional economic development. She has written about and worked with various governments on state tax reform and on the impact of taxes on economic growth.

In 1989 McGuire worked with a blue-ribbon commission and directed a study of revenues and expenditures for the state of Arizona. McGuire was president of the National Tax Association and has served as editor of the National Tax Journal. Her publications have appeared in the National Tax Journal, the Journal of Regional Science, the Journal of Urban Economics, International Tax and Public Finance, and the Journal of Public Economics.

McGuire has a B.A. with a dual major in mathematics and economics from the University of Nebraska-Lincoln and a Ph.D. in economics from Princeton University.

Appointed: October 2007

Current Term Ends: September 30, 2022

Joel L. Prakken

IHS Markit

Joel Prakken is a founding member of the economic consulting firm Macroeconomic Advisers. Before that, he was senior economist at IBM Corp.'s world headquarters and served with the Federal Reserve Bank of New York. He has held positions on the faculties of New York University's Graduate School of Business and the Economics Department and the Olin School of Business at Washington University.

He served as a director and as president of the National Association for Business Economics and was president of the Gateway Association of Business Economists in Saint Louis.

Prakken has written papers for the Council of Economic Advisers, the American Council for Capital Formation, and the Center for the American Study of Business on topics including tax reform, budget policy, monetary policy, and the impact of technology on productivity.

Prakken completed his undergraduate degree in economics at Princeton University and received his Ph.D. from Washington University in Saint Louis.

Appointed: October 2008

Current Term Ends: September 30, 2021

Andrew D. Reamer

George Washington University

Andrew Reamer is a research professor at the George Washington University's Institute of Public Policy. His research efforts, intended to inform the public and decision-makers, aim to encourage U.S. national economic development and competitiveness.

His areas of focus include strategic economic analysis and policy, innovation and entrepreneurship, workforce development, and the federal economic statistics system.

Reamer joined the Institute of Public Policy in 2010, after six years at the Brookings Institution's Metropolitan Policy Program and 20 years as a consultant in U.S. regional economic development and public policy.

Reamer is a member of several federal advisory committees, including the National Advisory Council on Innovation and Entrepreneurship, the Workforce Information Advisory Council, and the Bureau of Labor Statistics Data Users Advisory Committee. 

He received a Ph.D. in economic development and public policy and a master's of city planning from the Massachusetts Institute of Technology, and a B.S. in economics at the Wharton School, University of Pennsylvania.

Appointed: November 2020

Current Term Ends: November 1, 2023

Susan Wachter

The Wharton School of the University of Pennsylvania

Susan Wachter is the Albert Sussman Professor of Real Estate and a professor of finance at The Wharton School of the University of Pennsylvania.

She is the author of more than 200 scholarly publications and the recipient of several awards for teaching excellence at The Wharton School. She co-founded and is co-director of the Penn Institute for Urban Research. She also founded and serves as director of Wharton’s Geographical Information Systems Lab.

Previously, Wachter was chairperson of the Real Estate Department and professor of real estate and finance. She was the editor of Real Estate Economics from 1997 to 1999 and currently serves on the editorial boards of several real estate journals.

Wachter received the American Real Estate and Urban Economics Lifetime Achievement Award in 2005. She has served on multiple boards, including the Affordable Housing Advisory Committee of Fannie Mae and the Office of Financial Research Advisory Committee of the U.S. Treasury.

Past Meetings

Time Topics Speakers  
10:00 AM - 10:30 AM Bureau & Committee Update
  • Mary Bohman
  • Ernie Berndt
  • Dan Sichel
 
10:30 AM - 11:00 AM

GDP and Beyond: Reaching a Milestone

  • Steve Landefeld

Presentation GDP and Beyond: Update

 
  • Prototype Distributional Measures of Personal Income
  • Dennis Fixler
  • David Johnson
  • Marina Gindelsky

PresentationA Distribution of Personal Income

BackgroundMeasuring Inequality in the National Accounts

Technical Document: A Methodology for Distributing Personal Income

11:00 AM - 11:15 AM Break

 


 

11:15 AM - 12:15 PM
  • Prototype Distributional Measures of Personal Income, continued
  • Discussion Panel:
  • David Splinter Joint Committee on Taxation
  • Jonathan Rothbaum Census Bureau
  • Bilal Habib Congressional Budget Office
  • Committee Discussion

Presentation Comments on BEA's Personal Income Distributionby David Splinter

Presentation Correcting Underreporting in Survey Incomeby Jonathan Rothbaum

Presentation How CBO Adjusts for Underreporting of Means-Tested Transfersby Bilal Habib

12:15 PM  -   1:00 PM Current issue: Impact of Covid-19 on BEA's Economic Accounts
  • Erich Strassner
  • Ben Mandel
  • Mark Ludwick

PresentationImpact of Covid-19 on BEA's Economic Accounts

BackgroundTechnical Note: Coronavirus (COVID-19) Impact on First-Quarter 2020 GDP

COVID-19 Pandemic: Federal Recovery Legislation and the NIPAs

How did BEA adjust March 2020 wages and salaries?

How does the 2020 CARES Act affect BEA's estimates of personal interest payments?

How does BEA measure public education services during the closings of schools and college campuses?

Additional Information

   
  • Discussion Panel:
  • Joel Prakken
  • Julia CoronadoMacroPolicy Perspectives
  • Committee Discussion

 

1:00 PM Adjournment    
Download/Print Complete Agenda
Time Topics Speakers  
8:30 AM - 9:00 AM Registration and Coffee    
9:00 AM - 9:45 AM Opening Remarks & Bureau Update
  • Brian Moyer
 
  • Evidence Act Implementation
  • Puerto Rico Prototype Statistics
  • Lucas Hitt
  • Aya Hamano

PresentationEconomic Statistics for Puerto Rico: Consumer Spending, Business Investment, and Trade in Goods

BackgroundSummary of Methodologies: Puerto Rico Personal Consumption Expenditures, Private Fixed Investment, and Net Exports of Goods

9:45 AM - 10:45 AM Improving Measures of Housing Services in BEA's Accounts
  • David Wasshausen
  • Dylan Rassier
  • Bettina Aten

PresentationImproving Measures of Housing Services in BEA's Accounts by Bettina H. Aten and Dylan G. Rassier

BackgroundImproving Measures of National and Regional Housing Services in the U.S. Accounts

BackgroundThe Owner-Premium Adjustment in Housing Imputations

BackgroundValuing Owner-Occupied Housing: an empirical exercise using the American Community Survey (ACS) Housing files

10:45 AM - 11:00 AM Break

 


 

11:00 AM - 12:15 PM Improving Measures of Housing Services in BEA's Accounts, continued
  • Discussion Panel:Dale Jorgenson (moderator)
  • Robert Cage Bureau of Labor Statistics
  • Randal Verbrugge Federal Reserve Bank of Cleveland
  • Susan Wachter Wharton School, University of Pennsylvania
  • Committee Discussion

Presentation Measurement of Owner Occupied Housing in the U.S. Consumer Price Indexby Robert Cage

Presentation Comments on Proposed Methodology for Measuring Flow of Services from Owner-Occupied Housing by Randy Verbrugge

Presentation Improving Measures of Housing Services in BEA's Accountsby Susan M. Wachter

Background Housing Services Discussion Questions

12:15 PM - 1:30 PM Lunch    
1:30 PM  -   2:00 PM Toward Simultaneous Releases of National, State and Industry-level GDP
  • Erich Strassner

  • Committee Remarks: Maurine Haver
    Joel Prakken

PresentationBringing Together National, Industry, and State GDP for the First Timeby Erich H. Strassner

2:00 - 3:30 PM State-level Estimates of Defined Benefit Pension Plans for State & Local Governments
  • David Lenze

  • Discussants:
  • Donald BoydRockefeller College, University at Albany, SUNYAlan Auerbach

PresentationTransactions of State and Local Government Defined Benefit Pension Plans: New experimental data on a state by state basisby David G. Lenze

PresentationState-level Public Pension Estimates by Don Boyd

PresentationState & Local Government DB Plansby Alan Auerbach

BackgroundTransactions of State and Local Government Defined Benefit Pension Plans

3:30 PM Adjournment    
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Time Topics Speakers  
8:30 AM - 9:00 AM Registration and Coffee    
9:00 AM - 9:30 AM Opening Remarks
  • Ernie Berndt
  • Brian Moyer
 
9:30 AM - 10:15 AM Measuring the Digital Economy
  •  
 
  • Plans & Progress
  • Erich Strassner

PresentationMeasuring the Digital Economy: Plans and Progressby Erich Strassner

 
  • Comparing the Digital and Physical Sectors
  • Michael Mandel Progressive Policy Institute

PresentationComparing the Digital and Physical Sectors Using BEA Approach to Digital Economyby Michael Mandel

BackgroundCompetition and Concentration: How the Tech/Telecom/Ecommerce Sector is Outperforming the Rest of the Private Sector

10:15 AM - 10:30 AM Break

 


 

10:30 AM - 12:00 PM Measuring the Digital Economy, continued

 

 

 
  • Disentangling Smartphone Spending
  • Ana Aizcorbe

PresentationDisentangling Cell Phone Spending from Cellular Telephone Servicesby Ana Aizcorbe

BackgroundGetting Smart About Phones: New Price Indexes and the Allocation of Spending Between Devices and Services Plans in Personal Consumption Expenditures
 
  • Measuring Data in the National Accounts
  • Robert Kornfeld

PresentationMeasuring Data in the National Accountsby Robert Kornfeld

BackgroundTreatment of Data in National Accounts

BackgroundValue of Data: There's No Such Thing as a Free Lunch in the Digital Economy

 
  • "Free" Media and Information
  • Rachel Soloveichik

Presentation"Free" Media and Informationby Rachel Soloveichik

BackgroundMeasuring the "Free" Digital Economy Within the GDP and Productivity Accounts

BackgroundValuing "Free" Media in GDP: An Experimental Approach

12:00 PM - 1:00 PM Lunch    
1:00 PM  -   2:00 PM Measuring the Digital Economy, continued
  • Dan Sichel (moderator)

 

 

 
  • Panel & Committee Discussion
  • Shane GreensteinHarvard Business School

 

   
  • David FriedmanBureau of Labor Statistics

 

2:00 - 3:30 PM Update: GDP & Beyond
  • Steve Landefeld

PresentationGDP and Beyond: Next Stepsby Steve Landefeld

 
  • Toward Distributional Measures of Personal Income
  • David Johnson University of Michigan

PresentationImproving the Measure of the Distribution of Personal Incomeby David Johnson

BackgroundImproving the Measure of the Distribution of Personal Income

BackgroundToward National and Regional Distributions of Personal Income

 
  • Distributional Financial Accounts of the U.S.
  • Elizabeth HolmquistFederal Reserve Board

PresentationDistributional Financial Accounts of the United Statesby Elizabeth Holmquist

BackgroundIntroducing the Distributional Financial Accounts of the United States

    
  • Committee discussion

 

3:30 PM Adjournment    
Download/Print Complete Agenda
Time Topics Speakers  
8:30 AM - 9:00 AM Registration and Coffee    
9:00 AM - 9:45 AM Opening Remarks & BEA Update
  • Brian Moyer
 
9:45 AM - 10:15 AM Update Session: GDP by County
  • Joel Platt

PresentationGross Domestic Product by County Statistics: A Project Update PPTXby Joel Platt

BackgroundGDP Statistics for U.S. Counties Coming Dec. 12

10:15 AM - 10:30 AM Break

 


 

10:30 AM - 12:00 PM GDP and Beyond: Priorities  & Plans
  • Steve Landefeld

PresentationGDP and Beyond: Priorities and Plans PPTXby Steve Landefeld

BackgroundGDP and Beyond: Measuring Economic Progress and Sustainability

   
  • DiscussantsDale Jorgenson

PresentationComments on GDP and Beyond: Priorities and Plans PPTX



 

   
  • Katharine Abraham

BackgroundMeasuring Economic Progress and Sustainability PDF

PresentationGDP and Beyond: Priorities and Plans PDF

12:00 PM - 1:15 PM Lunch    
1:15 PM  -   2:15 PM Current Issue: Offshore Profit Shifting
  • Ray Mataloni
















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PresentationCurrent Issue: Offshore Profit Shifting PPTXby Ray Mataloni

BackgroundStrategic Movement of Intellectual Property within U.S. Multinational Enterprises PDF

Offshore Profit Shifting and Domestic Productivity Measurement

Multinational Profit Shifting and Measures Throughout Economic Accounts PDF

   
  • Alan Auerbach 

PresentationOffshore Profit Shifting and the National Accounts PPTXby Alan Auerbach

2:15 PM - 3:30 PM Machine Learning for National Economic Accounting
  • Jeff Chen
     

PresentationMachine Learning for National Economic Accounting PPTXby Jeff Chen

BackgroundOff to the Races: A Comparison of Machine Learning and Alternative Data for Nowcasting of Economic Indicators PDF

   
  • Discussant: Pat Bajari Amazon.com     

PresentationDiscussion of "Machine Learning National Economic Accounts" PPTXby Pat Bajari

3:30 PM Adjournment    
Download/Print Complete Agenda
Time Topics Speakers  
8:30 AM - 9:00 AM Registration & Coffee    
9:00 AM - 9:10 AM Opening Remarks
  • Brian Moyer
  • Ernie Berndt
 
9:10 AM - 10:00 AM Current Issue: Impact of Tax Reform on BEA's Accounts
  • Ben Mandel

Presentation2017 Tax Cuts and Jobs Act: Impact on the U.S. National Accounts PDFby Ben Mandel

   
  • Joel Prakken

PresentationComments on The Tax Cuts & Jobs Act PDFby Joel Prakken

BackgroundThe Macroeconomic Impact of the Tax Cuts and Jobs Act PDFby Joel Prakken, Chris Varvares

10:00 AM - 10:45 AM Update on the Outdoor Recreation Satellite Account
  • Lucas Hitt

PresentationOutdoor Recreation Satellite Account: Prototype Estimates, 2012–2016 PDFby Lucas Hitt

     

BackgroundSurvey of Current Business: Introducing the Outdoor Recreation Satellite Accountby Tina Highfill, Connor Franks, Patrick S. Georgi, and Thomas F. Howells III

     

News Release: Outdoor Recreation Satellite Account: Prototype Statistics for 2012-2016

     

Blog: Prototype Statistics: Outdoor Recreation Accounted for 2 Percent of GDP in 2016

   
  • DiscussantRob SouthwickSouthwick Associates

PresentationIndustry's Perspectives on ORSA PDFby Rob Southwick

10:45AM - 11:00 AM Break    
11:00 AM - 11:20 AM Bureau Update
  • Brian Moyer
 
  Launching a New bea.gov
  • Lucas Hitt
 
11:20 AM - 12:30 PM Housing Services: Alternative Measures and Data Sources
  • Erich Strassner

PresentationHousing Services and the National Accounts PDFby Erich Strassner

   
  • Bettina Aten

PresentationOwner-occupied Housing: Alternative methods of valuing expenditures PDFby Bettina H. Aten

BackgroundWorking Paper: Valuing Owner-Occupied Housing: an empirical exercise using the American Community Survey (ACS) Housing files PDFby Bettina H. Aten

Working Paper: Rental equivalence estimates of national and regional housing expenditures PDFby Bettina H. Aten

Working Paper: Imputing Rents to Owner-Occupied Housing by Directly Modelling Their Distribution PDFby Arnold J. Katz

   
  • Scott Wentland

PresentationBig Data in Housing: An Overview of Zillow Microdata and its Potential for National Accounts PDFby Scott Wentland and Marina Gindelsky

BackgroundMonetary Policy and Home Prices: Big Data Research Applications at BEA PDFby Scott Wentland (BEA) & Jeremy Moulton (UNC)

12:30 PM - 1:45 PM Lunch    
1:45 PM - 3:00 PM Housing Services: Alternative Measures and Data Sources (continued)
  • Raven MolloyFederal Reserve Board

PresentationThoughts on Measuring Aggregate Housing Services PDFby Raven Molloy

   
  • Discussion Panelists:David JohnsonUniversity of MichiganMarshall ReinsdorfIMF

PresentationDiscussion of Housing Services PDFby David Johnson

   
  • André LorangerStatistics Canada

BackgroundCanadian Housing Statistics Program Overview PDF
CHSP Vancouver PDF
CHSP Toronto PDF

   
  • Susan WachterUniversity of Pennsylvania, Wharton School of Business
 
3:00 PM - 3:30 PM Toward Prototype GDP by County Statistics
  • Joel Platt
 
   
  • Ledia Guci

PresentationResearch and Development of Prototype Gross Domestic Product by County Statistics PDFby Ledia Guci

BackgroundWorking Paper: A Research Agenda for Measuring GDP at the County Level PDFby Ledia Guci, Charles Ian Mead, Sharon D. Panek

3:30 PM Adjournment    
Download/Print Complete Agenda
Time Topics Speakers Presentations & Background Materials
8:30 AM - 9:00 AM Registration and Coffee    
9:00 AM - 9:30 AM Opening Remarks & Bureau Update
  • Ernie Berndt
  • Brian Moyer
 
9:30 AM - 10:00 AM Current Issue:
Treatment of Disasters in BEA's Economic Accounts
  • Robert Kornfeld

PresentationThe Treatment of Disasters in the National Income and Product Accounts PDF  

10:00AM - 11:00 AM Quality-Adjusted Prices for Medical Care
  • Abe Dunn

PresentationAre Medical Care Prices Still Declining? A Systematic Examination of Quality-Adjusted Price Index Alternatives for Medical Care PDF  

BackgroundAre Medical Care Prices Still Declining? A Systematic Examination of Quality-Adjusted Price Index Alternatives for Medical Care PDF by Seidu Dauda, Abe Dunn, and Anne Hall

   
  • DiscussantLouise SheinerThe Brookings Institution

PresentationDiscussion of "Are Medical Care Prices Still Declining?"  PDF

   
  • Committee Discussion led byErnie Berndt
 
11:00 AM - 11:15 AM Break    
11:15 AM - 12:00 PM Toward a Satellite Account for Outdoor Recreation
  • Erich Strassner
  • Committee Discussion

PresentationOutdoor Recreation Satellite Account PDF

12:00 PM - 1:15 PM Lunch    
1:15 PM - 2:00 PM Update on Seasonal Adjustment Plans
  • Sally Thompson

PresentationUpdating BEA's National Accounts: Update on Seasonal Adjustment Plans PDF

   
  • Claudia SahmFederal Reserve Board

PresentationResidual Seasonality in GDP … Again? PDF

BackgroundFEDS Notes: Residual Seasonality in GDP (2015) by Charles E. Gilbert, Norman J. Morin, Andrew D. Paciorek, and Claudia R. Sahm

FEDS Notes: Another Look at Residual Seasonality in GDP (2017) by Paul Lengermann, Norman Morin, Andrew Paciorek, Eugenio Pinto, and Claudia Sahm

   
  • Committee Discussion
 
2:00 PM - 3:30 PM Quality-Adjusted Prices for High Tech Goods/Services – Current Work and Future Plans
  • David Wasshausen

PresentationQuality-Adjusted Prices for High Tech Goods/Services: Current Work and Future Plans PDF

   
  • DiscussantMarshall ReinsdorfIMF
 
   
  • Committee Discussion led byAna Aizcorbe

Questions for Committee Discussion PDF

3:30 PM Adjournment    
Time Topics Speakers Presentations & Background Materials
9:15 AM - 9:30 AM Registration    
9:30 AM - 9:45 AM Welcome & Opening Remarks
  • Ernie Berndt
  • Brad BurkeDeputy Under Secretary for Economic Affairs
 
9:45 AM - 11:15 AM Measuring Quality Adjusted Prices in the 21st Century
  • Erica GroshenFormer Commissioner, BLS
  •  
  •  
   
  • Dave Wasshausen
   
  • David ByrneFederal Reserve Board
  •  
   
  • Michael HarperFormer Associate Commissioner for Productivity and Technology, BLS
  • Committee Discussion
 
11:15 AM - 12:30 PM Launching a New Bea.gov
  • Lucas Hitt
  • Alec Minor
 
12:30 PM - 1:30 PM Lunch    
1:30 PM - 1:45 PM BEA Update
  • Brian Moyer
 
1:45 PM - 2:30 PM Updating BEA's National Accounts    
  Overview of Plans Including Seasonal Adjustment
  • Sally Thompson
  • Committee Discussion
2:30 PM - 2:45 PM Break    
2:45 PM - 3:30 PM Updating BEA's National Accounts, continued    
  Consumer Spending & Use of Big Data
  • Kyle Brown
  The Government Sector & Harmonized Treatment of Pensions
  • Pamela Kelly
  Investment & Capital Services
  • Bob Kornfeld
  • Committee Discussion
3:30 PM Adjournment    
Time Topics Speakers Presentations Background Materials
8:30 AM - 9:00 AM Registration and Coffee      
9:00 AM - 9:15 AM Opening Remarks Justin Antonipillai, ESA    
9:15 AM - 10:45 AM Update on GDP Initiatives:
Source Data Acceleration & Impacts on GDP
Ron Jarmin, Census Bureau Source Data Acceleration & Impacts on GDP  PDF by Ron Jarmin  
    David Wasshausen Source Data Acceleration PDF by Thomas Howells and David Wasshausen  
  Seasonal Adjustment Improvements Brent Moulton Residual Seasonality in GDP and GDI  PDF by Brent Moulton Residual Seasonality in GDP and GDI: Findings and Next Steps PDFby Brent Moulton and Benjamin Cowan BEA Moves Ahead on Second Phase to Combat Potential for Residual Seasonality in GDP
    Discussant: Joel Prakken    
10:45 AM - 11:00 AM Break      
11:00 AM - 12:00 PM Trade in Services Initiative Paul Farello
Kristy Howell
Trade in Services Initiative  PDF by Paul Farello and Kristy Howell New Separately Published Countries Handout  PDF
Services Detail by Type Handout  PDF
 
    Discussant:
William Shpiece, USTR
   
12:00 PM - 1:30 PM Working Lunch:
Update on the Commission on Evidence-Based Policymaking
Katharine Abraham Commission on Evidence-Based Policymaking PDF by Katharine G. Abraham About CEP PDF
1:30 PM - 1:50 PM Update on BEA Activities Brian Moyer    
1:50 PM - 2:00 PM Break      
2:00 PM - 3:30 PM Measuring the Digital Economy Erich Strassner Measuring the Digital Economy PDF by Erich Strassner  
  Quality Adjustment of High-Tech Goods and Services Prices Ana Aizcorbe Improving ICT Deflators in the National Accounts PDF by Ana Aizcorbe  
    Daniel Sichel A New Look at Prices of Personal Computers, Tablets, and Cell Phones: A Progress Report PDF by Daniel Sichel
    Discussants:    
    Giulia McHenry, NTIA Measuring the Digital Economy: Motivations and Initiatives PDF by Giulia McHenry  
    Carol Corrado, The Conference Board Discussion of Improving ICT Deflators in the National Accounts PDF by Carol Corrado  
3:30 PM Adjournment      
     
Time Topics Speakers Presentations Background Materials
8:30 AM - 9:00 AM Registration and Coffee    
9:00 AM - 9:30 AM Opening Remarks & Bureau Update Brian Moyer    
    Ellen McGratten    
9:30 AM - 10:45 AM Exploring the Boundaries of Production: Cultivated Assets and Valuing "Free" Media Brent Moulton, Rachel Soloveichik
The Future of the SNA's Asset Boundary PDFBy Brent R. Moulton and Nicole Mayerhauser
Long-Lived Farm Animals As Capital Assets PDFBy Eldon Ball, Roberto Mosheim (ERS) and Rachel Soloveichik (BEA)
Valuing "Free" Media Across Countries in GDP PDFBy Leonard Nakamura and Rachel Soloveichik
    Discussant: Chuck Hulten    
10:45 AM - 11:00 AM Break    
11:00 AM - 12:15 PM Update Session:      
  Latest Results from the Health Care Satellite Account Abe Dunn
Introducing the New BEA Health Care Satellite Account PDFBy Abe Dunn, Lindsey Rittmueller, and Bryn Whitmire
  New Measurements of the Impacts of Globalization Jim Fetzer, Tom Howells
Update on New Measurements of the Impacts of Globalization PDFby James J. Fetzer and Thomas F. Howells III
Supply-Use Tables for the United States PDFby Jeffrey A. Young, Thomas F. Howells III, Erich H. Strassner, and David B. Wasshausen
  New FDI Data on Greenfield and Acquisitions Patricia Abaroa  
    Committee Discussion    
12:15 PM - 1:45 PM Lunch    
1:45 PM - 2:45 PM Big Data: Tackling New Projects and Exploring New Sources Dennis Fixler
    Discussant:
Roberto RigobonMassachusetts Institute of Technology
   
2:45 PM - 3:30 PM Prototyping BEA's Next Generation Website: A Better Way to Connect with Customers Lucas Hitt
    P.J. Urquilla    
    Committee Discussion    
3:30 PM Adjournment    
         
Time Topics Speakers Presentations Background Materials
8:30 AM - 9:00 AM Registration and Coffee    
9:00 AM - 9:15 AM Welcome and Opening Remarks
Brian Moyer
Ernst Berndt
   
9:15 AM - 10:45 AM BEA's Regional Program:
Recent Improvements and Future Work
Joel Platt & Ledia Guci
Ray Rasker, Headwaters Economics
Discussant: Andrew Reamer
BEA's Regional Program PDFby Ledia Guci
Prototype Personal Consumption Expenditures by State for 1997–2012 PDFby Christian Awuku-Budu, Ledia Guci, Christopher A. Lucas, and Charles Ian Mead
Prototype Quarterly Gross Domestic Product by State Statistics for 2005–2013 PDFby Lam Cao, Charles Ian Mead, Todd Siebeneck, and Catherine (Zheng) Wang
10:45 AM - 11:00 AM Break    
11:00 AM - 12:00 PM Update Session:
Harmonizing BEA's Measures of GDP, GDI, and Value Added
Brent Moulton
Committee Discussion
 
12:00 PM - 1:30 PM Lunch:
Plans for BEA's Web Site Redesign
Lucas Hitt & P.J. Urquilla
 
1:30 PM - 1:45 PM International Trade and Investment Facts Web Application
Ryan Howley
1:45 PM - 2:15 PM Update on BEA Activities 
Under Secretary Mark Doms
Brian Moyer
   
2:15 PM - 3:30 PM Better Measuring the Financial Sector Output:
BEA/FRB Integrated Macro Accounts and Shadow Banking
Bob Kornfeld & Kyle Hood
Discussants: Susan Hume McIntosh, Federal Reserve Board, & Daniel Sichel
Financial Subsectors in the Integrated Macroeconomic Accounts PDFby Robert Kornfeld, Lisa Lynn, and Takashi Yamashita
Financial Subsectors in the Integrated Macroeconomic Accounts PDFby Robert Kornfeld, Lisa Lynn, and Takashi Yamashita
3:30 PM Adjournment    
         
Time Topics Presentation Background Materials
8:30 AM - 9:00 AM Registration and Coffee
9:00 AM - 9:30 AM Welcome and Opening Remarks  
9:30 AM - 11:00 AM Health Care Satellite Account
Household Consumption Expenditures for Medical Care: An Alternate Presentation PDFby Ana Aizcorbe, Eli B. Liebman, David M. Cutler, and Allison B. Rosen
11:00 AM - 11:15 AM Break  
11:15 AM - 12:15 PM Update Session:
Factoryless Goods Manufacturing, Global Value Added Chains
12:15 PM - 1:30 PM Lunch  
1:30 PM - 2:15 PM Update on BEA Activities   
2:15 PM - 3:30 PM Revisions to GDP/GDI
Revisions to GDP/GDI PDFby Dennis J. Fixler
Discussant's Remarks:
Comments on Dennis J. Fixler's, "Revisions to GDP and GDI" PDFby Ellen R. McGrattan
The Revisions to GDP, GDI, and Their Major Components PDFby Dennis J. Fixler, Ryan Greenaway-McGrevy, and Bruce T. Grimm
3:30 PM Adjournment  
       
 

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The BEA Advisory Committee meets twice yearly. To attend, or to request additional information, please contact Gianna Marrone at gianna.marrone@bea.gov.