Dec 11 -- At the Federal Economic Statistics Advisory Committee meeting, BEA Industry Analysis Division Chief Tom Howells provided an overview of current BEA efforts to provide data on global supply chains. "New Data on Analyzing Global Supply Chains" at https://apps.bea.gov/fesac/meetings/2020-12-11/20201204_FESAC_Howells_Final.pptx
In the presentation, Tom described a new BEA-NSF collaboration to understand the role of science and technology in supply chains; development of a single-country trade in value-added (TiVA) framework; and extensions involving bilateral trade, expanded trade in services, expanded geographic and industry detail, and extended supply-use tables (SUTs). Extensions contemplated include decomposition of value added into capital and labor services; decomposition of capital services by type of asset; and real TiVA statistics.
Questions for AEA members:
• Which research paths are most interesting and most beneficial for data users, policymakers, etc.?
• How should BEA package these statistics to make the data most useful for users?
• What are your priorities for new and expanded statistics to fill data gaps on international trade?
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