Measuring innovation is a challenging task, both for researchers and for national statisticians, and it is increasingly important in light of the ongoing digital revolution. National accounts and many other economic statistics were designed before the emergence of the digital economy and the growth in importance of intangible capital. They do not yet fully capture the wide range of innovative activity that is observed in modern economies. This volume examines how to measure innovation, track its effects on economic activity and on prices, and understand how it has changed the structure of production processes, labor markets, and organizational form and operation in business. The contributors explore new approaches to and data sources for measurement, such as collecting data for a particular innovation as opposed to a firm and using trademarks for tracking innovation. They also consider the connections between university-based R&D and business start-ups and the potential impacts of innovation on income distribution. The research suggests strategies for expanding current measurement frameworks to better capture innovative activity, including developing more detailed tracking of global value chains to identify innovation across time and space and expanding the measurement of innovation's impacts on GDP in fields such as consumer content delivery and cloud computing.

• Contents
• Prefatory Note
• Introduction | Carol Corrado, Jonathan Haskel, Javier Miranda, and Daniel Sichel
• I. Expanding Current Measurement Frameworks
  • 1. Expanded GDP for Welfare Measurement in the Twenty-First Century | Charles Hulten and Leonard I. Nakamura
  • 2. Measuring the Impact of Household Innovation Using Administrative Data | Javier Miranda and Nikolas Zolas
  • 3. Innovation, Productivity Dispersion, and Productivity Growth | Lucia Foster, Cheryl Grim, John C. Haltiwanger, and Zoltan Wolf
• II. New Approaches and Data
  • 4. How Innovative Are Innovations? A Multidimensional, Survey-Based Approach | Wesley M. Cohen, You-Na Lee, and John P. Walsh
  • 5. An Anatomy of US Firms Seeking Trademark Registration | Emin M. Dinlersoz, Nathan Goldschlag, Amanda Myers, and Nikolas Zolas
  • 6. Research Experience as Human Capital in New Business Outcomes | Nathan Goldschlag, Ron Jarmin, Julia Lane, and Nikolas Zolas
• III. Changing Structure of the Economy
  • 7. Measuring the Gig Economy: Current Knowledge and Open Issues | Katharine G. Abraham, John C. Haltiwanger, Kristin Sandusky, and James R. Spletzer
  • 8. Information and Communications Technology, R&D, and Organizational Innovation: Exploring Complementarities in Investment and Production | Pierre Mohnen, Michael Polder, and George van Leeuwen
  • 9. Digital Innovation and the Distribution of Income | Dominique Guellec
• IV. Improving Current Measurement Frameworks
  • 10. Factor Incomes in Global Value Chains: The Role of Intangibles | Wen Chen, Bart Los, and Marcel P. Timmer
  • 11. Measuring Moore’s Law: Evidence from Price, Cost, and Quality Indexes | Kenneth Flamm
  • 12. Accounting for Innovations in Consumer Digital Services: IT Still Matters | David Byrne and Carol Corrado
  • 13. The Rise of Cloud Computing: Minding Your Ps, Qs, and Ks | David Byrne, Carol Corrado, and Daniel Sichel
  • 14. BEA Deflators for Information and Communications Technology Goods and Services: Historical Analysis and Future Plans | Erich H. Strassner and David B. Wasshausen
• Contributors
• Author Index
• Subject Index