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Working Paper
Does the United States invest \"too little?\"
The standard measures of nominal capital formation show the United States investing a proportion of GDP much lower than those of other developed countries throughout the last 2 years and falling further behind over time. In contrast, measures we have calculated in real terms across and over time indicate that U.S. investment ratios have been rising over time and have been coming closer and closer to those of the other countries. A broader measure of capital formation, more consonant with economic concepts, shows the United States to have been close to the other countries since 1970 and to ...
Journal Article
Measuring real investment: trends in the United States and international comparisons
The standard measures of nominal capital formation suggest that the proportion of GDP the United States is dedicating to investment has been much lower than that of other developed countries throughout the last 25 years. By calculating the measures in real terms across countries and over time, authors Milka S. Kirova and Robert E. Lipsey show that the U.S. investment ratios have been rising over time, coming increasingly closer to those of other countries. Using a broader measure of capital formation that is more consonant with economic concepts, they show that U.S. investment has been close ...
