We build a general equilibrium model where growth is driven by new ideas that can have varying degrees of complementarity with previous innovations. The model links micro-level complementarities with the aggregate value of intangible capital and provides a new mapping between measures of knowledge accumulation found in patent data and aggregate TFP growth. We show how to measure the degree of c...

The views expressed in the paper do not necessarily reflect the views of the Bureau of Economics or the Department of Commerce. Introduction There has been a great deal of recent attention directed to the importance of investments in intangibles in the growth of economies. The Bureau of Economic Analysis in 2006 and 2007 released R&D Satellite Accounts that illustrate how the incorporation of R...

We examine the relation between a firm’s campaign contributions and lobbying expenditures and its Tobin’s q. We follow other studies that use q to measure the value of the firm’s intangible capital (e.g., the value of advertising, R&D, or environmental performance). Researchers have found a positive and significant relation between intangible assets and q. If political capital exists, it is an ...

This paper presents an optimization model for the design of global supply chains where the emphasis is made on transfer pricing for both tangible and intangible elements. We adopt the profit split transfer pricing method which is dictated by OECD guidelines and may be accepted by fiscal authorities. The proposed model is particularly suited for the offshoring context. In addition to transfer pr...

Nowadays, knowledge has become a determinant capital for enterprise to retain and improve competitive advantage. In other words, knowledge and intellectual capital are crucial intangible resources and also need to be emphasized and manage appropriately. Because knowledge is abstract, intangible, and difficult to measure, it becomes an important issue to evaluate intellectual capital for busines...

Every modern company should measure the value of its intellectual capital and to report to complement the traditional annual balance sheets. The purpose of this work is to measure the intellectual capital in an Algerian company (or production system) using the Weightless Wealth Tool Kit (WWTK). The results of the measurement of intellectual capital are supplemented by traditional financial rati...

OBJECTIVES The study performs a cost-effectiveness analysis of procedures for atrial septal defects occlusion, comparing conventional surgery to septal percutaneous implant. METHODS A model of analytical decision was structured with symmetric branches to estimate cost-effectiveness ratio between the procedures. The decision tree model was based on evidences gathered through meta-analysis of l...

The burden of illness of rheumatoid arthritis (RA) falls on patients, families and society through the direct costs, indirect costs, and intangible costs. A large number of RA cost-of-illness studies have been performed in recent decades with discrepant results due to patient heterogeneity, and different health-care organization, employment rate or social support, job opportunities, and methodo...

____________________________ The authors gratefully acknowledge financial support from the College of Business Administration at the University of Rhode Island. We would like to thank Tian Xiao at NAIC for useful comments and Xuanjuan Chen, doctoral student at University of Rhode Island, for computational assistance. We also thank participants at the 2003 Western Risk and Insurance Conference. ...

In the knowledge-based economy the wealth-creating capacity of organisations is no longer based on tangible assets such as buildings, equipment, and vehicles alone. Intangible assets are key contributors to securing sustainable competitive advantage. It is therefore critically important that intangible Information Assets (IA) such as data, documents, content on web sites, and knowledge are unde...