Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the...

Emerging from the ruins of the Second World War, the Japanese economy has grown at double-digit rate throughout much of the 1950s and 1960s, and, when the oil crisis of the 1970s slowed growth throughout the industrialized world, Japanese growth throughout the industrialized world, Japanese...

Economists wish to compare prices, real income, and output across countries and regions for many purposes. In the past, such comparisons were made in nominal terms, or by using exchange rates across countries, ignoring differences in price levels and thus distorting the results. Great progress...

Since the Great Depression, researchers and statisticians have recognized the need for more extensive methods for measuring economic growth and sustainability. The recent recession renewed commitments to closing long-standing gaps in economic measurement, including those related to...

As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we...