Corrado, Carol; Hulten, Charles; Sichel, Daniel - Federal Reserve Board (Board of Governors of the … - 2004
Business outlays on intangible assets are usually expensed in economic and financial accounts. Following Hulten (1979 … expenditures that are current consumption versus those that are capital investment. This framework suggests that any business … this principle to newly developed estimates of business spending on intangibles, we find that, by about the mid-1990s …