Barbara M. Fraumeni

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As part of the recent comprehensive revision of the ’s,  introduced an improved methodology for calculating depreciation. The improved methodology uses empirical evidence on the prices of used equipment and structures in resale markets, which has shown that depreciation for most types of assets approximates a geometric pattern. Previously, the(More)
This paper reports direct evidence on how recent changes in technology are related to changes in wage gaps by schooling, experience, and gender. Wage gaps by schooling in the full-year 1979 and 1989 Current Population Surveys increased the most in industries with rising R&D intensity and accelerating growth in the capital-labor ratio. Estimates of the(More)
HE “new economy” and the favorable economic conditions accompanying it have been the subject of considerable attention in the media, on Wall Street, among economists, at central banks, and in government agencies. Although some seem to take it on faith that there is a permanent change in the economy powering the strong performance of the U.S. economy over(More)
In this paper we reconstruct the fixed non-residential capital stock of South Korea and Taiwan. These are based on long-term series of investment in non-residential buildings and machinery and equipment, using the perpetual inventory method with assumptions on lifetimes and age-efficiency patterns that are standardised across countries. Comparisons with(More)
The publication of the 1993 System of National Accounts served as a major milestone in creating international standards for compiling a fully integrated set of accounts measuring a nation’s production, income, and wealth. While statistical agencies continue to make progress toward full implementation of the 1993 SNA, attention is now turning to perceived(More)
IN THE NEWS story “Who has your DNA— or wants it” (25 September, p. 1475), J. Kaiser listed 17 projects that aim to chart human genetic diversity across the globe in the context of a dozen ongoing national genome sequencing initiatives (1). Yet Russia—a country with 1/10th of Earth’s landmass, 1/50th of the world’s people, and descendants from critical(More)
In the July 1997 issue of the Survey of Current Business the Bureau of Economic Analysis presented new methods for the measurement of capital in the U.S. National Income and Product Accounts. This is one of the most important advances in national accounting since the creation of the United Nations (1968) System of National Accounts and presents the critical(More)
*This paper represents views of the authors and is not an official position of the Bureau of Economic Analysis or the Department of Commerce. The authors thank Mikael Mortensen for his assistance in producing empirical estimates and acknowledge the helpful comments of Ned Howenstine, Daniel Yorgason, and other members of the International Investment(More)
This paper presents a satellite account in which investment in human capital is considered as a produced product/asset. It is not the education sector but the individual person taking education or training/courses that is the genuine producer of human capital. The former only provides education services that are used as one of the production inputs for the(More)