This paper provides an update of the NESTA Innovation Index and tries to calculate some facts for the 'knowledge economy'. Building on the work of Corrado, Hulten and Sichel (CHS, 2005,9), using new data sets and a new micro survey, we (1) document UK intangible investment and (2) see how it...

This note responds to a critique of our recent paper, “Can Intangible Investment Explain the UK Productivity Puzzle?â€. In that critique Martin and Rowthorn (MR) present a re-working of data on labour composition which they feel refutes an element of our argument. In this response we...

This paper investigates whether intangibles might explain the UK productivity puzzle. We note that since the recession: (a) firms have upskilled faster than before; (b) intangible investment in R&D and software has risen whereas tangible investment has fallen; and (c) intangible and telecoms...

We model the production and use of knowledge investment and show how the model can be used to infer the unknown price of knowledge using two approaches. The first is often used by national accounting offices and is based on costs in the knowledge-producing sector. We show this implicitly assumes...

Presents a multi-factor productivity analysis, using an experimental quality-adjusted labour input measure and experimental estimates of capital services growth as inputs.This article presents multi-factor productivity, sometimes referred to as total factor productivity or growth accounting,...

Digital technologies have transformed the way many creative works are generated, disseminated and used. They have made cultural products more accessible, challenged established business models and the copyright system, and blurred the boundary between producers and consumers. This unique...

Attempts to explain the subtle differences in the methodologies used to construct index numbers.Many of the statistics produced by the Office for National Statistics,particularly economic statistics, are published in the form ofindices. However, there are a number of different forms of indices...

Presents new data for the New labour productivity measures from the ABI, calculated using published ABI data, updating previousresults for 1998 to 2000.This article presents new current price labour productivity data calculated using published data from the Annual BusinessInquiry (ABI). This is...