The Impact of Capitalizing Data on Productivity Growth in the U.S.

Jul 20, 2026·
Jon D. Samuels
Dr. José Bayoán Santiago Calderón
Dr. José Bayoán Santiago Calderón
,
Garner, Corby
· 0 min read
Abstract
The System of National Accounts 2025 revision recommends treating own-account data as an intangible capital asset. This study explores the impact of this recommendation on the sources of economic growth for the U.S. economy from 2002 to 2024. We use experimental estimates for own-account data and databases to modify the {BEA}-{BLS} Integrated Industry-Level Production Accounts ({ILPA}). The adjustments to the {ILPA} include changes on the output side of the accounts to capture new gross fixed capital formation. On the input side, data provides a capital service to all industries that use data. We find that including own-account data as an asset raises the contribution of {IT}-related capital assets to {GDP} growth by about one-third between 2002 and 2024, but the effects differ significantly across industries.
Type
Publication
U.S. Bureau of Economic Analysis Working Paper Series
Status
Peer-reviewed Open access
publications
Dr. José Bayoán Santiago Calderón
Authors
Research Economist

José Bayoán Santiago Calderón is a senior research economist in the national economic accounts research group at the U.S. Bureau of Economic Analysis. Before joining the federal statistical system, Dr. Santiago Calderón had years of experience in the private sector as a research scientist at various companies. Bayoán also held academic appointments with the Biocomplexity Institute and Initiative at the University of Virginia, where he started his career in public service.

His research has centered on improving decision-making. His transdisciplinary research approach has enabled him to routinely collaborate across disciplines and develop a diverse set of domain knowledge and methodological toolset. He also participates in various open-source software communities (e.g., JuliaLang) and civic activism (e.g., Code4PR, Mentes Puertorriqueñas en Accion).

In his non professional life, Bayoán enjoys spoiling his dog (Sadaharu), playing video games, watching TV, reading manga, and programming.

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