188:"Innovation and intangible investment in Europe, Japan, and the United States" measures innovation by analyzing intangible investment and its relation with information and communication technology, spillovers, and policy. Corrado's paper examines the various perspective of innovation by providing a clear understanding of the diverse approaches to innovation. She points out that many believe innovation in EU countries is decreasing and more innovation is necessary in order to fix destabilized economies. Corrado addresses these beliefs by breaking down what exactly innovation is and how can it be measured as well as observing the role and value of policy in innovation. She finds that current measures of innovation are too ambiguous and are in need of additional measures that together form a more complete framework. She notes that innovation has largely shifted from being tangible to intangible, a reality important to consider when analyzing modern growth and innovation. As a result, she proposes a new model of measurement that takes into account intangible investment within the framework of computerized information, innovative property, and economic competencies in addition to the already measured intangibles of research and development, and software. From this measurement Corrado finds that in the United States intangible capital accounts for half of their total capital deepening where as in the EU countries it only accounts for 23.8%. Subsequently, she points out that all variables which mediate the monetization of countries investment in knowledge will be imperative factors contributing to the future growth and innovation in EU countries.
180:
of the components of GDP such as consumption, along with leisure and measures of security" to accurately represent the transformed modern economy. She points out that the current measure is susceptible to double counting and does not account for necessary market weights which is currently measured by prices. To fix this
Corrado recommends that we need to "repoint" GDP to account for prices that are "quality-adjusted" in the rapidly expanding "knowledge economy" which is experiencing a digital paradigm. The digitization of the "knowledge economy" is leading to an increase in non-market activities that are not accounted for in the current GDP measure as it strictly measures market production. Thus a reappointed GDP measure needs to redefine and reestablish the "boundary line" between non-market and market production that has become increasingly blurred by digitization.
150:
the "technological revolution" which has increased the level of intangible investment in the United States economy. Subsequently, modern accounting measures omit a large percentage of actual GDP in their calculated measure. By including intangibles in their measure
Corrado, Hulten and Sichel find that over "$ 3 trillion of business intangible capital stock" has been left out of calculated GDP measures and lead to inaccurate representations of the United States economic growth. Since being published in 2009
25:
348:
for the 21st century, additionally, she has received a special achievement award from the Board of
Governors of the Federal Reserve System in 1998. In 2003 Corrado was awarded the Julius Shiskin award from the American Statistical Association for her statistical work regarding industrial production,
200:
The book examines how technology has altered the U.S. economy, increasing the role of intangible assets and technology investment. They propose a variety of new approaches and necessary factors that should be included in calculations of capital in order to create more accurate measures of capital in
179:
measure. Corrado offers a modern re-evaluation of the measure proposing that it should "measure intangible and environmental capital, to quality-adjust prices, to run online experiments on willingness-to-pay for free goods" along with "extending GDP to measure economic well-being better: using some
149:
Corrado's paper "Intangible
Capital and U.S. Economic Growth" that she co-authored with Charles Hulten and Daniel Sichel analyzes the exclusion of intangible investment from calculated GDP and the impact it has on measured economic growth. They point out how accounting practices have lagged behind
128:
Corrado's research focuses on macroeconomic issues in the United States, China, Europe and Japan. She focuses her research on intangible assets, innovation and economic growth where she has authored a number of papers. Much of her research addresses the changing digital economy and the role that
174:
Corrado's Indigo Prize winning paper "Improving GDP: Demolishing, Repointing or
Extending?*" considers the GDP measure and its validity as a measurement of the modern economy which has significantly changed since the introduction of the
349:
capacity measurement, productivity measurement and information technology output and prices. In 2010 she was the winner of the
Kendricks Prize awarded by the International Association of Research on Income and Wealth for her paper
96:
Centre for
Business and Public Policy where she focuses on economics of growth and innovation as well as fiscal and monetary policies. In addition to these positions, Corrado is involved with the
301:
Corrado, C., Haskel, J., Jona-Lasinio, C., & Iommi, M. (2018) Intangible investment in the EU and US before and since the Great
Recession and its contribution to productivity growth.
281:
Corrado, C., Van Ark, B., Erumban, A., & Levanon, G. (2016) Navigating the
Digital Economy: Capturing the Benefits from Increased Flexibility and Cost Reductions – CFO Implications.
100:
as well as the
Technical Advisory Committee of the Bureau of Labor Statistics. With the American Statistical Association Corrado serves as the chair-elect of Business and Economics.
288:
Corrado, C., Van Ark, B., Erumban, A., & Levanon, G. (2016) Navigating the New Digital Economy: Driving Digital Growth and Productivity from Installation to Deployment.
251:
Corrado, C., Haskel, J., Jona-Lasinio, C., & Iommi, M. (2012) Intangible capital and growth in advanced economies: Measurement methods and comparative results.
710:
294:
Corrado, C., Haskel, J., & Jona-Lasinio, C. (2019) Productivity Growth, Capital Reallocation and the Financial Crisis: Evidence from Europe and the US.
720:
700:
690:
685:
116:
in Pittsburgh, where she received a B.S. in Management Science in 1969. After her time at Carnegie Mellon, Corrado began her PhD in 1970 at the
258:
Corrado, C., Van Ark, B., Hao, J. X., & Hulten, C. (2009) Measuring Intangible Capital and its Contribution to Economic Growth in Europe.
86:
705:
695:
129:
information and communication technology (ICT) has had on economic and productivity growth. Further, a large portion of her work with
109:
78:
377:
97:
328:
Corrado, C., Haskel, J., & Jona-Lasinio, C. (2016) Intangibles, ICT and industry productivity growth: Evidence from the EU.
133:
has been on the topic of the knowledge economy and the role of intangible assets in driving innovation and growth on both the
307:
Corrado, C., Haskel, J., & Jona-Lasinio, C. (2017) Public Intangibles: The Public Sector and Economic Growth in the SNA.
93:
658:
219:
Corrado, C., & Hao, J. X. (2014) The Growing Value of Brands and Their Contribution to Worldwide Economic Growth.
117:
113:
489:
715:
345:
268:
Corrado, C., Haskel, J., & Jona-Lasinio, C. (2017) Knowledge Spillovers, ICT and Productivity Growth.
238:
Corrado, C., Hulten, C., & Sichel, D. (2002) Measuring Capital and Technology: an expanded framework.
176:
609:
90:
130:
82:
154:
has received considerable international recognition, winning the Kendricks Prize and being cited in
35:
614:. National Bureau of Economic Research Studies in Income and Wealth. University of Chicago Press.
517:
579:
225:
Corrado, C. (2013) Investments in Intellectual Property: New Footprints in Macroeconomic Data.
509:
314:
Corrado, C., & Byrne, D. (2017) "ICT Asset Prices: Marshaling Evidence into New Measures.
591:
501:
321:
Corrado, C., & Byrne, D. (2017) What do they tell us about Productivity and Technology?
50:
369:
89:'s (NBER) conference on research on income and wealth. She is a senior policy scholar at
138:
134:
46:
274:
Corrado, C., & Hulten, C. (2010) How do you Measure a "Technological Revolution"?
679:
578:
Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cecilia; Iommi, Massimiliano (2013).
505:
521:
427:
341:
196:
In 2005 Corrado along with John Haltiwanger and Daniel Sichel released the book
81:
and currently serves as a senior advisor and research director in economics on
580:"Innovation and intangible investment in Europe, Japan, and the United States"
184:"Innovation and intangible investment in Europe, Japan, and the United States"
112:
in Hershey, Pennsylvania before she began her undergraduate degree in 1965 at
513:
74:
595:
458:
650:
540:
402:
625:
120:
in Philadelphia, where in 1976 she obtained a PhD in Economics.
18:
85:. She serves as a member of the executive committee for the
244:
Corrado, C., & Mattey, J. (1997) Capacity Utilization.
205:
Corrado, C., Haltiwanger, J.C., & Sichel, D.E. (2005).
488:
Corrado, Carol; Hulten, Charles; Sichel, Daniel (2009).
170:"Improving GDP: Demolishing, Repointing or Extending?*"
42:
303:
Journal of Infrastructure, Policy and Development, 2.
77:
who was the former chief of industrial output at the
463:National Institute of Economic and Social Research
330:The World Economy: Growth or Stagnation?, 319-346.
344:in 2017 for her work calculating the remaining
490:"Intangible Capital and U.s. Economic Growth"
340:Corrado was the first place recipient of the
214:The Conference Board Executive Action Reports
145:"Intangible Capital and U.S. Economic Growth"
8:
270:Oxford Bulletin of Economics and Statistics.
351:Intangible Capital and U.S. Economic Growth
152:Intangible Capital and U.S. Economic Growth
209:Chicago: The University of Chicago Press.
276:American Economic Review, 100(5), 99-104
432:Center for Business & Public Policy
361:
316:Finance and Economics Discussion Series
380:from the original on November 21, 2010
323:Finance and Economic Discussion Series
246:Journal of Economic Perspectives 11(1)
207:Measuring Capital in the New Economy.
198:Measuring Capital in the New Economy.
7:
711:McDonough School of Business faculty
661:from the original on January 3, 2011
611:Measuring Capital in the New Economy
573:
571:
569:
567:
565:
563:
561:
535:
533:
531:
483:
481:
479:
453:
451:
449:
397:
395:
87:National Bureau of Economic Research
14:
721:University of Pennsylvania alumni
701:Carnegie Mellon University alumni
691:21st-century American economists
686:20th-century American economists
584:Oxford Review of Economic Policy
506:10.1111/j.1475-4991.2009.00343.x
240:The University of Chicago Press.
98:American Statistical Association
23:
309:Review of Income and Wealth, 63
1:
296:Journal of Macroeconomics, 61
94:McDonough School of Business
494:Review of Income and Wealth
737:
706:Federal Reserve economists
118:University of Pennsylvania
114:Carnegie Mellon University
32:This biographical article
696:American women economists
374:www.conference-board.org
108:Carol Corrado attended
651:"Kendrick Prize Award"
201:the changing economy.
290:The Conference Board.
253:IZA Discussion Papers
227:The Conference Board.
221:The Conference Board.
91:Georgetown University
79:Federal Reserve Board
45:by revising it to be
630:community.amstat.org
596:10.1093/oxrep/grt017
283:The Conference Board
131:The Conference Board
83:The Conference Board
110:Hershey High School
233:Other publications
16:American economist
68:
67:
728:
671:
670:
668:
666:
647:
641:
640:
638:
636:
622:
616:
615:
606:
600:
599:
575:
556:
555:
553:
551:
537:
526:
525:
485:
474:
473:
471:
469:
455:
444:
443:
441:
439:
424:
418:
417:
415:
413:
399:
390:
389:
387:
385:
366:
71:Carol A. Corrado
63:
60:
54:
27:
26:
19:
736:
735:
731:
730:
729:
727:
726:
725:
676:
675:
674:
664:
662:
649:
648:
644:
634:
632:
626:"ASA Community"
624:
623:
619:
608:
607:
603:
577:
576:
559:
549:
547:
539:
538:
529:
487:
486:
477:
467:
465:
457:
456:
447:
437:
435:
434:. June 18, 2019
428:"Carol Corrado"
426:
425:
421:
411:
409:
401:
400:
393:
383:
381:
370:"Carol Corrado"
368:
367:
363:
359:
338:
235:
216:
194:
186:
172:
147:
126:
106:
73:is an American
64:
58:
55:
43:help improve it
40:
28:
24:
17:
12:
11:
5:
734:
732:
724:
723:
718:
713:
708:
703:
698:
693:
688:
678:
677:
673:
672:
642:
617:
601:
590:(2): 261–286.
557:
527:
500:(3): 661–685.
475:
445:
419:
391:
360:
358:
355:
337:
334:
333:
332:
326:
319:
312:
305:
299:
292:
286:
279:
272:
266:
256:
249:
242:
234:
231:
230:
229:
223:
215:
212:
211:
210:
193:
190:
185:
182:
171:
168:
164:New York Times
146:
143:
125:
122:
105:
102:
66:
65:
31:
29:
22:
15:
13:
10:
9:
6:
4:
3:
2:
733:
722:
719:
717:
716:Living people
714:
712:
709:
707:
704:
702:
699:
697:
694:
692:
689:
687:
684:
683:
681:
660:
656:
655:www.iariw.org
652:
646:
643:
631:
627:
621:
618:
613:
612:
605:
602:
597:
593:
589:
585:
581:
574:
572:
570:
568:
566:
564:
562:
558:
546:
545:Carol Corrado
542:
536:
534:
532:
528:
523:
519:
515:
511:
507:
503:
499:
495:
491:
484:
482:
480:
476:
464:
460:
454:
452:
450:
446:
433:
429:
423:
420:
408:
407:Carol Corrado
404:
398:
396:
392:
379:
375:
371:
365:
362:
356:
354:
352:
347:
343:
335:
331:
327:
324:
320:
317:
313:
310:
306:
304:
300:
297:
293:
291:
287:
284:
280:
277:
273:
271:
267:
264:
261:
257:
254:
250:
247:
243:
241:
237:
236:
232:
228:
224:
222:
218:
217:
213:
208:
204:
203:
202:
199:
191:
189:
183:
181:
178:
169:
167:
165:
161:
157:
153:
144:
142:
140:
139:macroeconomic
136:
135:microeconomic
132:
123:
121:
119:
115:
111:
103:
101:
99:
95:
92:
88:
84:
80:
76:
72:
62:
52:
48:
44:
38:
37:
36:like a résumé
30:
21:
20:
665:November 24,
663:. Retrieved
654:
645:
635:November 24,
633:. Retrieved
629:
620:
610:
604:
587:
583:
550:November 24,
548:. Retrieved
544:
497:
493:
468:November 24,
466:. Retrieved
462:
459:"Corrado, C"
438:November 24,
436:. Retrieved
431:
422:
412:November 24,
410:. Retrieved
406:
384:November 24,
382:. Retrieved
373:
364:
350:
342:Indigo Prize
339:
329:
322:
315:
308:
302:
295:
289:
282:
275:
269:
263:14(1), 62-93
262:
259:
252:
245:
239:
226:
220:
206:
197:
195:
187:
173:
163:
159:
156:Businessweek
155:
151:
148:
127:
107:
70:
69:
56:
51:encyclopedic
33:
260:EIB Papers,
34:is written
680:Categories
541:"Research"
357:References
162:, and the
59:April 2024
514:1475-4991
160:Economist
104:Education
75:economist
659:Archived
522:54507148
378:Archived
124:Research
141:level.
47:neutral
41:Please
520:
512:
336:Awards
158:, the
518:S2CID
403:"Bio"
667:2019
637:2019
552:2019
510:ISSN
470:2019
440:2019
414:2019
386:2019
192:Book
137:and
49:and
592:doi
502:doi
346:GDP
177:GDP
682::
657:.
653:.
628:.
588:29
586:.
582:.
560:^
543:.
530:^
516:.
508:.
498:55
496:.
492:.
478:^
461:.
448:^
430:.
405:.
394:^
376:.
372:.
353:.
166:.
669:.
639:.
598:.
594::
554:.
524:.
504::
472:.
442:.
416:.
388:.
325:.
318:.
311:.
298:.
285:.
278:.
265:.
255:.
248:.
61:)
57:(
53:.
39:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.