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Nov 17

Measuring Innovation and Change During Turbulent Economic Times

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Location: The Heritage Foundation's Allison Auditorium

Notwithstanding the large volume of high quality macroeconomic data published by the Bureau and Economic Analysis (BEA) and other government agencies, our nation continues to face important challenges associated with the measurement of our standard of living and turning points in our economy. For example, the recent recession has highlighted important measurement issues in the financial and housing areas. In addition, the National Income and Product Accounts continue to lack comprehensive metrics of the contributions to economic activity from innovation and entrepreneurial activity, although the BEA and allied government and private sector organizations are moving ahead to address these shortcomings through the incorporation of more information on innovation and entrepreneurship. This day-long conference will explore the measurement challenges associated with the recession, particularly in the financial and housing sectors; how innovation can become a standard component of our national accounting system; and how incorporating innovation metrics will aid the development of a unified picture of the sources of growth and economic disruption.

More About the Speakers

Survey of Current Business Online, February, 2010

Opening Remarks (9:45-10:00 a.m.)
William Beach
The Heritage Foundation

Karen Dynan
The Brookings Institution

Measuring Innovation and Change (10:00 a.m.-10:20 a.m.)

How Should We Think about Measuring Innovation and Change?
Rebecca Blank
Economics and Statistics Administration
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Addressing Gaps in Economic Data on Saving and Retirement Incomes
Marshall Reinsdorf
Bureau of Economic Analysis
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Download Personal Savings Paper
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Paul Smith
Federal Reserve Board
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Break (11:00-11:15 a.m.)

Measuring Innovation and Change (11:15 a.m.-12:30 p.m.)

Filling Gaps in the Nation's Economic Accounts
Steven Landefeld
Bureau of Economic Analysis
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Stress Testing Economic Data
Alan Krueger
U.S. Department of the Treasury
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Discussants:

Mark Doms
Economics and Statistics Administration

Karen Dynan
The Brookings Institution
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Donald Marron
Lightyear Capital
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Luncheon Buffet (12:30-1:30 p.m.)

Bringing Innovation into the U.S. Economic Accounts (1:30-2:30 p.m.)

Integrating R&D and Innovation Measurement

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Dennis Fixler
Bureau of Economic Analysis
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Michael Harper
Bureau of Labor Statistics
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Discussant:
E.J. Reedy
The Kauffman Foundation
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Break (2:30-2:45 p.m.)

Integrating Statistics: Developing a Unified Picture of the Sources of Growth and Disruptions (2:45-3:45 p.m.)

Integrating Macro and Industry Data

Brent Moulton
Bureau of Economic Analysis
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Brian Moyer
Bureau of Economic Analysis

Michael Harper
Bureau of Labor Statistics

Discussant:
Martin Baily
The Brookings Institution

Conference Wrap-Up (3:45-4:00 p.m.)

Dale Jorgenson
Harvard University
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