This paper finds that the shift from buying music as a physical product towards subscribing to music services implies a decrease of 85 percent in the price paid per song. We estimate that in 2019 the global quality adjusted value from streamed music was $76 billion compared to current revenues...

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...

This note reports on collaboration between Imperial College, the Office for National Statistics (ONS), the Intellectual Property Office (IPO), and industry sources to improve measurement of UK investment in artistic originals. We focus on creation of long-lived artistic original assets protected...

This report estimates:(a) The level of UK market sector investment in knowledge assets protected by Intellectual Property Rights (IPRs) and(b) The impact of investment in those assets via their contribution to labour productivity growth in the UK market sector. Estimates for investment and the...