Raymond Mataloni Jr.

Bureau of Economic Analysis
4600 Silver Hill Road
Washington, DC 20233

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Institutional Affiliation: Bureau of Economic Analysis

NBER Working Papers and Publications

October 2019Strategic Movement of Intellectual Property within U.S. Multinational Enterprises
with Derrick Jenniges, Sarah Stutzman, Yiran Xin
in The Challenges of Globalization in the Measurement of National Accounts, Nadim Ahmad, Brent Moulton, J. David Richardson, and Peter van de Ven, editors
April 2017Offshore Profit Shifting and Domestic Productivity Measurement
with Fatih Guvenen, Dylan G. Rassier, Kim J. Ruhl: w23324
Beginning in 2004, official statistics display a slowdown in U.S. productivity growth. We show how offshore profit shifting by U.S. multinational enterprises affects GDP and, thus, productivity measurement. Profit shifting increased in the mid- 1990s, resulting in lower measured productivity growth. We construct value added adjusted for profit shifting. The adjustments raise aggregate productivity growth rates by 0.09 percent annually for 1994–2004, 0.24 percent annually for 2004–2008, and lower annual aggregate productivity growth rates by 0.09 percent after 2008. The adjustments are large in R&D-intensive industries, where value added increases by as much as 8 percent in the mid-2000s.
April 2006Comment on "The Contribution of Multinational Corporations to U.S. Productivity Growth, 1977-2000"
in International Trade in Services and Intangibles in the Era of Globalization, Marshall Reinsdorf and Matthew J. Slaughter, editors

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