J. Steven Landefeld

J. Steven Landefeld
Bureau of Economic Analysis · Department of Commerce

Doctor of Philosophy

About

39
Publications
4,814
Reads
How we measure 'reads'
A 'read' is counted each time someone views a publication summary (such as the title, abstract, and list of authors), clicks on a figure, or views or downloads the full-text. Learn more
811
Citations
Additional affiliations
May 1995 - May 2014
Bureau of Economic Analysis
Position
  • Managing Director
November 1988 - November 1990
The President's Council of Economic Advisers
Position
  • Chief of Staff

Publications

Publications (39)
Chapter
The paper "makes a powerful case for better measurement of income distribution, an improved accounting framework to take stock of the immaterial economy, natural resources, the healthcare sector and public services. Of particular importance and relevance is their call for new measures to better identify and manage unsustainable trends in financial...
Article
In his review of A New Architecture for the U.S. National Accounts (Jorgenson et al., 2006), published in this issue (Vanoli, 2010), André Vanoli: • Suggests that the methods for integrating and increasing the consistency of national accounts contained in the New Architecture volume and in the recent United Nations (UN) Friends of the Chair Working...
Article
The topic of Jeremy Nalewaik's paper, the measurement of aggregate output, is of central importance. His case for preferring GDP(I) to GDP(E) is well argued and in certain key respects persuasive. Henceforth it will be impossible for macroeconomic analyses to proceed comfortably simply using GDP(E), as if the choice between GDP(E) and GDP(I) were i...
Article
The two official measures of U.S. economic output, gross domestic product (GDP) and gross domestic income (GDI), have shown markedly different business cycle fluctuations over the past 25 years, with GDI showing a more pronounced cycle than GDP. This paper reports a broad range of results that indicate that GDI better reflects the business cycle fl...
Article
The key elements of a new architecture for the U.S. national accounts have been developed in a prototype system constructed by Dale W. Jorgenson and J. Steven Landefeld, Director of the Bureau of Economic Analysis, U.S. Department of Commerce. The focus of the U.S. national accounts is shifting from economic stabilization policy toward enhancing th...
Article
Expanded measures of government product normally include imputations for the services of government capital. This article discusses several approaches to measuring the value of the services of government capital and focuses on the conceptual and empirical difficultes associated with making such imputations. In addition, four sets of alternative est...
Article
This paper looks at the U.S. experience and uses it as a benchmark for identifying the key questions that are being asked about the role and influence of MNC's and the types of statistics that are required to answer those questions. The paper goes on to assess whether the U.S. statistics that are now available are adequate to help us answer those q...
Article
Full-text available
This paper provides background information on the new economy and how it relates to BEA's economic accounts. It is designed to answer the following questions: What structural changes have occurred that define the new economy? Why is it important that these changes in the economy be captured in gross domestic product (GDP) and BEA's other economic a...
Article
Full-text available
h appears, in part, to be founded on misunderstandings about the nature of hedonic price indexes, the extent to which they are used in the accounts, the possible discontinuities in BEA's time series due to the introduction of hedonic price indexes, the importance of using chain-type indexes in computing real GDP and prices, the robustness of hedoni...
Article
The satellite accounts illustrated in this paper reflect the household's role as a producer and an investor in durables as well as a consumer by modifying the NIPA's to (1) incorporate the value of nonmarket (unpaid) household work into GDP; and (2) treat expenditures on consumer durables as investment and measure the value of the services those du...
Article
One of the most important goals of agencies producing economic statistics is that those statistics be relevant and regularly used by public and private decision makers. Achieving this goal requires several elements including accuracy, timeliness, and sound concepts and methods. However, perhaps most important, in a world of constrained resources, i...
Chapter
In April 1994, the United States Bureau of Economic Analysis (BEA) introduced a framework of Integrated Economic and Environmental Satellite Accounts (IEESAs) designed to cover the interactions of the economy and the environment. Modelled on the United Nations handbook on Integrated Environmental and Economic Accounting, they are constructed as sat...
Article
This paper compares the performance of several anticipatory surveys of U.S. business investment with each other and with projections generated by large-scale econometric models. The Commerce Department survey outperformed both the McGraw-Hill and Merrill Lynch surveys. The relatively strong representation of small and medium size firms in the Comme...
Article
This paper discusses alternatives to current national accounting procedures for non-renewable natural resources in the mining industries. Three alternative approaches to valuing the discovery and use of these resources are compared and alternative estimates for U.S. oil and gas for the period 1948-79 are presented. The focus is on the conceptual an...
Article
Full-text available
Human capital estimates of the economic value of life have been routinely used in the past to perform cost-benefit analyses of health programs. Recently, however, serious questions have been raised concerning the conceptual basis for valuing human life by applying these estimates. Most economists writing on these issues tend to agree that a more co...
Article
Technologically induced increases in health care costs have compelled policy-makers to ask hard budgetary questions about the value of biomedical research. Specific examples can be given to illustrate the returns from biomedical research on a disease-by-disease basis, but this information does not give a comprehensive enough perspective. The purpos...
Article
At a time when expenditures for biomedical research and for medical care are higher than ever before, some critics doubt the wisdom of allowing them to continue to rise. These critics question the contribution that medicine and research have made to health progress in the twentieth century. Such arguments, however, fail to distinguish between resea...
Article
Typescript. Thesis--University of Maryland. Vita. Includes bibliographical references (leaves 263).

Network

Cited By

Projects

Project (1)
Project
An International Handbook on an Extended Set of National Accounts and Business Statistics for Measuring Global Value Chains (UN, OECD, EUROSTAT, IMF, World Bank WTO and National Statistical Offices)