Intangible Assets and Productivity: An Occupation-Based Approach

Hannu Piekkola, Carter Bloch, Marina Rybalka, Tjaša Redek

Research output: Contribution to book/anthology/report/proceedingBook chapterResearchpeer-review

Abstract

This chapter presents an occupation-based method to measure intangible assets based on linked employer–employee data and shows its importance for analyzing growth and technological change. We broadly define intangible capital as R&D, ICT, and organizational capital. In addition, we apply a recently developed method for valuing the role of the quality of intangible work in the economy. The analysis covers firms with five or more employees in both manufacturing and services in four countries: Denmark, Norway, Finland, and Slovenia. Intangible investments are estimated based on specific (innovative) occupation-related labor costs combined with other related factor inputs used to produce intangibles. Intangible investments are further used in a model that considers improved labor quality as a measure of intangible-work-biased technological change (IBTC). We find that future growth indeed relies on technological change driven by intangibles and related skills, where we observe no decreasing trend since the financial crisis.

Original languageEnglish
Title of host publicationIntangible Assets, Productivity and Economic Growth : Micro, Meso and Macro Perspectives
EditorsC. Bloch, A. Protogerou, N.S. Vonortas
Number of pages25
Place of publicationAbingdon
PublisherRoutledge
Publication dateFeb 2024
Pages103-127
Chapter6
ISBN (Print)9781032348674, 9781032348681
ISBN (Electronic)9781003324225
DOIs
Publication statusPublished - Feb 2024

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