Final Program for IARIW-ESCoE Conference “Measuring Intangible Assets and The Contribution to Growth”

To register for the conference, please click here.


Hold at the RSA House, 8 John Adam St., London, November 11-12, 2021 

* indicates a remote presentation

The author in bold will present the paper

Day 1: Thursday, November 11, 2021

9.00 Registration (Benjamin Franklin Room)

9.30-9:45. Opening Remarks by Marshall Reinsdorf (Immediate Past President, IARIW) and Rebecca Riley (Director, ESCoE) (Great Room)

9:45-10:45 Keynote Address (Great Room)

Chair: Mary O’Mahony (King’s College London)

Dan Sichel (Wellesley College, United States) “Intangibles: How Far We Have Come and the Road Ahead”

10:45-11.15 Break (Benjamin Franklin Room)


Session 1: Defining and Measuring Intangibles (Chair: Mary O’Mahony (King’s College London)) (Great Room)

Chair: Sylaja Srinivasan (Bank of England)

Josh Martin (Office for National Statistics), Cain Baybutt (Office for National Statistics)  “The F words: why surveying businesses about intangibles is so hard”

Discussant: Gaganan Awano (Cabinet Office)

Leonard Nakamura (Federal Reserve Bank of Philadelphia) “Deflating Intangible Investment: Some New Ideas and Estimates”

Discussant: Marshall Reinsdorf (IMF Retired)

Patrick Breithaupt (ZEW Mannheim), Reinhold Kesler (University of Zurich), Thomas Niebel* (ZEW Mannheim), and Christian Rammer (ZEW Mannheim)

“Intangible Capital Indicators Based on Web Scraping of Social Media”

Discussant: Charlotte Meng (National Institute of Economic and Social Research)

12:45- 14.00 Lunch (Benjamin Franklin Room)

14.00-15.30 Parallel Sessions.

Session 2A: Management/Organisational Capital (Great Room)

Chair: Paul Mizen (University of Nottingham)

Anna Ardanaz-Badia (Office for National Statistics), Josh Martin (Office for National Statistics), Mika Morgan (Office for National Statistics) and Jakob Schneebacher (Office for National Statistics) “Channels of Managerial Capital Accumulation – A Framework and New Evidence from UK Microdata”

Discussant: Cher Li (University of Nottingham)

Nicholas Bloom (Stanford University), Takafumi Kawakubo (London School of Economics), Charlotte Meng (Economic Statistics Centre of Excellence), Paul Mizen (University of Nottingham), Rebecca Riley (King’s College London), Tatsuro Senga (Queen Mary University of London) and John Van Reenen (London School of Economics)  “Managing Expectations: How Better Managed Firms Make Better Macro and Micro Forecasts”

Discussant: Marko Melolinna (Bank of England)

Wendy Li* (Moon Economics Institute) and P. J. Chi (University of California Los Angeles)  “Online Platforms’ Creative “Disruption” in Organizational Capital The Accumulated Information of the Firm”

Discussant: Chander Velu (University of Cambridge)

Session 2B: Measurement Issues in Intangible Capital I (Prince Philip Room)

Chair : Marianne Paasi (TU Berlin)

Mojca Bavdaž (University of Ljubljana),  Hannu Piekkola (University of Vaasa) and Tjaša Redek (University of Ljubljana) “Conceptualizing and Measuring Intangible Capital Using Existing Survey Data Sources in the European Statistical System”

Discussant: Eurydice Fotopoulou (Office for National Statistics)

Hannu Piekkola (University of Vaasa and Aarhus University), Marina Rybalka (Statistics Norway) and Tjaša Redek (University of Ljubljana) “Intangibles from innovative work – their valuation and technological change”

Discussant: Catherine Robinson (University of Kent)

15.30 – 16.00 Break (Benjamin Franklin Room)

16.00 – 17.30 Parallel Sessions

Session 3A: Productivity and Intangibles I (Great Room)

Chair: Tony Venables (University of Manchester)

Emile Cammeraat (OECD), Lea Samek* (OECD), and Mariagrazia Squicciarini (OECD) “Management, Skills and Productivity” 

Discussant: Larissa Marioni (National Institute of Economic and Social Research)

Cecilia Jona Lasinio* (LUISS University and ISTAT), Valentina Meliciani (LUISS University) and Silvia Sopranzetti (Italian Ministry of Economy and Finance) “Organizational capital and global value chain participation: fostering productivity growth in the digital economy”

Discussant: Monique Ebell (Department of Business Energy and Industrial Strategy)

Dennis Fixler* (US Bureau of Economic Analysis) and Eva de Francisco (US Bureau of Economic Analysis) “The Reliability of the Contribution of Intellectual Property Products to GDP Growth”

Discussant: Joe Grice (Office for National Statistics)

Session 3B: Measurement Issues in Intangible Capital II (Prince Philip Room)

Chair: Mary O’Mahony (King’s College London)

Anna Thum-Thysen (European Commission), Peter Voigt (European Commission) and Christoph Weiss (European Investment Bank) “Reflections on complementarities in capital formation and production: Tangible and intangible assets across Europe

Discussant: Augustin De Coulon (King’s College London)

Mary O’Mahony (King’s College London) and Martin Weale (King’s College London) “Depreciation and Net Capital Services: how much do Intangibles contribute to Economic Growth?”

Discussant: Leonard Nakamura (Federal Reserve Bank of Philadelphia)

David Stroll (Birkbeck College) “Collecting Firm Level Data on Intangible Assets”

Discussant: Josh Martin (Office for National Statistics)

5:30 -6:45 Drinks (Benjamin Franklin Room)

Conference Dinner 6:45 (Great Room)

Day 2: Friday, November 12, 2021

9:30 – 11.00

Session 4: Valuing Data (Great Room)

Chair: Arthur Turrell (Office for National Statistics)

Carol A. Robbins* (National Science Foundation), Gizem Korkmaz (University of Virginia), Ledia Guci (National Science Foundation), José B. Santiago Calderón (University of Virginia) and Brandon L. Kramer (University of Virginia) “A First Look at Open-Source Software Investment in the United States and in Other Countries, 2009-2019”

Discussant: Juan Mateos Garcia (Nesta)

Diane Coyle (University of Cambridge) and Stephanie Diepeveen, (University of Cambridge) “Creating and governing social value from data”

Discussant: Martin Weale (King’s College London)

Hugo de Bondt (Statistics Netherlands) and Nino Mushkudiani (Statistics Netherlands) “Estimating the Value of Data in the Netherlands”

Discussant: Eurydice Fotopoulou (Office for National Statistics)

11.00-11.30 Break (Benjamin Franklin Room)


Session 5A: Productivity and Intangibles II (Great Room)

Chair : Anna Valero (LSE)

Carol Corrado (The Conference Board), Chiara Criscuolo (OECD), Jonathan Haskel (Imperial College and the Bank of England), Alexander Himbert* (OECD), and Cecilia Jona-Lasinio (ISTAT and LUISS University) “New Evidence on Intangibles, Diffusion and Productivity”

Discussant: Anthony Savagar (University of Kent)

Corby Garner* (US Bureau of Labor Statistics), Matthew Russell (US Bureau of Labor Statistics), James Bessen (the Boston University School of Law), Peter B. Meyer (US Bureau of Labor Statistics),  ]and Leo Sveikauskas (US Bureau of Labor Statistics) “Intangible Capital and US Productivity Growth in 61 Industries”

Discussant: Bart van Ark (University of Manchester)

Martin Borowiecki (OECD), Jon Pareliussen (OECD), Daniela Glocker (OECD), Eun-Jung Kim (OECD), Michael Polder (Statistics Netherlands) and Iryna Rud (Statistics Netherlands)  “The impact of digitalisation on productivity: Firm-level evidence from the Netherlands

Discussant: Jakob Schneebacher (Office for National Statistics)

Session 5B: Evaluating Intangibles (Prince Philip Room)

Chair: Monique Ebell (Department of Business Energy and Industrial Strategy)

Gerrit Hugo van Heuvelen (CPB Netherlands Bureau for Economic Policy Analysis), Leon Bettendorf (CPB Netherlands Bureau for Economic Policy Analysis), Gerdien Meijerink (CPB Netherlands Bureau for Economic Policy Analysis) and Daan Freeman (CPB Netherlands Bureau for Economic Policy Analysis) “Intangible Investment, Labour Composition and Productivity”

Discussant: Rebecca Riley (King’s College London)

Ernst R. Berndt (Massachusetts Institute of Technology and National Bureau of Economic Research) and Alvin J. Silk (Harvard Business School) “Aggregate Advertising Expenditure in the U.S. Economy: Measurement Growth Issues in the Digital Era”

Discussant: Gavin Wallis (Bank of England)

Nadia Accoto (Bank of Italy), Stefano Federico (Bank of Italy), and Giacomo Oddo (Bank of Italy) “Trade in services, intangible capital, and the profit-shifting hypothesis”

Discussant: Meredith Crowley (University of Cambridge)

12.45-14.00 Lunch (Benjamin Franklin Room)

14.00-15.00 Keynote Address (Great Room)

Chair: Rebecca Riley (Director, ESCoE)

Jonathan Haskel – (Imperial College and the Bank of England) “Intangibles: Productivity and Policy”

15.00-15.30 Break (Benjamin Franklin Room)

15.30-16.30 Closing Panel: Future Directions for Research on Intangible Assets (Great Room)

Chair: Chris Giles (Economics Editor, Financial Times)


Tera Allas (McKinsey & Co.)

Richard Heys (Office for National Statistics)

Rachel Solveichik* (US Bureau of Economic Analysis)

Stian Westlake (Royal Statistical Society)

Day 3: Saturday, November 13, 2021

11:00 AM – 2:30 PM: Walking Tour of London’s Financial District, “How the City Got Rich”