Charles R. Hulten

Professor
Department of Economics
University of Maryland
College Park, MD
Phone: 301-405-3549
E-Mail: hulten@econ.umd.edu
Curriculum Vitae

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BIOGRAPHY

Charles R. Hulten is Professor of Economics at the University of Maryland, where he taught from 1985 to 2016 and is now Professor Emeritus. He is also a Research Associate of the National Bureau of Economic Research and was Chairman of the Conference on Research in Income and Wealth from 1985 to 2016. He is also a Senior Fellow at The Conference Board. and a member of the Advisory Committee of the Bureau of Economic Analysis. Before joining the University of Maryland, he was a Senior Research Associate at the Urban Institute and Assistant Professor of Economics at Johns Hopkins University. His undergraduate and Ph.D. degrees are from the University of California, Berkeley (1965 and 1973, respectively).

RESEARCH INTERESTS

Productivity analysis, economic growth and development, capital formation and the measurement of economic depreciation, and intangible capital and the effects of intangibles on economic growth and corporate wealth.

SELECTED PAPERS

INTANGIBLE CAPITAL AND THE NEW ECONOMY

• Hulten, Charles, and Leonard Nakamura, "Accounting for Growth in the Age of the Internet: The Importance of Output-Saving Technical Change," NBER Working Paper 23315, April 2017 (revised).
• Hulten, Charles, "The Importance of Education and Skill Development for Economic Growth in the Information Era," in Education, Skills, and Technical Change: Implications for Future U.S. GDP Growth, Hulten and Ramey, eds., Studies in Income and Wealth, The University of Chicago Press for the NBER, Chicago, forthcoming.
• Hulten, Charles, and Valery A. Ramey, "Education, Skills, and Technical Change, Implications for Future U.S. GDP Growth: An Introduction and Overview", in Education, Skills, and Technical Change: Implications for Future U.S. GDP Growth, Hulten and Ramey, eds., Studies in Income and Wealth, The University of Chicago Press for the NBER, Chicago, forthcoming.
• Hulten, Charles, and Leonard Nakamura, "Measuring GDP and Welfare in the 21st Century," Paper Presented at the NBER Conference on Research in Income and Wealth Measuring and Accounting for Innovation in the 21st Century, Carol Corrado, Javier Miranda, Jonathan Haskel, and Daniel Sichel, Organizers, Washington D.C., March 10-11, 2017.
• Hulten, Charles, "Measuring the Economy of the 21st Century", NBER Reporter, 4, December, 2015, 1-7.
• Corrado, Carol, Charles Hulten, and Daniel Sichel, "Intangible Capital and U.S. Economic Growth," Review of Income and Wealth, 55, 3, September 2009, 661-685. NBER Working Paper 11948 version.
• Corrado, Carol, and Charles Hulten, "How Do you Measure a 'Technological Revolution'?," American Economic Review, May 2010, 99-104 (with Carol A. Corrado).
• Hulten, Charles,"Decoding Microsoft: Intangible Capital as a Source of Company Growth," NBER Working Paper 15799, March 2010.
• Corrado, Carol, Charles Hulten, and Daniel Sichel, "Measuring Capital and Technology: An Expanded Framework," in Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger and Daniel Sichel, eds., Studies in Income and Wealth, vol. 65, The University of Chicago Press for the National Bureau of Economic Research, Chicago, 2005, 11-41 (with Carol Corrado, and Daniel Sichel).

PRODUCTIVITY THEORY and MEASUREMENT

• Hulten, Charles, "Growth Accounting," NBER Working Paper 15431, September 2008. (revised version of the paper in the Handbook of the Economics of Innovation, Bronwyn H. Hall and Nathan Rosenberg (eds.), Elsevier-North Holland,
• Hulten, Charles, "Total Factor Productivity: A Short Biography," in New Developments in Productivity Analysis, Charles R. Hulten, Edwin R. Dean, and Michael J. Harper, eds., Studies in Income and Wealth, vol. 63, The University of Chicago Press for the National Bureau of Economic Research, Chicago, 2001, 1-47.
• Baily, Martin N., Charles Hulten, and David Campbell, "Productivity Dynamics in Manufacturing Plants," Brookings Papers on Economic Activity, Microeconomics 1992, 187-249.
• Hulten, Charles, "Growth Accounting when Technical Change is Embodied in Capital," American Economic Review, Vol. 82, No. 4, September 1992, 964-980.
• Hulten, Charles, "Productivity Change, Capacity Utilization, and the Sources of Efficiency Growth," Journal of Econometrics, Vol. 33, 1986, 31-50.
• Hulten, Charles, "On the 'Importance' of Productivity Change," American Economic Review, Vol. 69, No. 1, March 1979, 126-135.
• Hulten, Charles, "Growth Accounting with Intermediate Inputs," Review of Economic Studies, Vol. 45, No. 3, October 1978, 511-518.
• Hulten, Charles, "Divisia Index Numbers," Econometrica, Vol. 41, No. 6, November 1973, 1017-25.

INFRASTRUCTURE AND ECONOMIC DEVELOPMENT

• Hulten, Charles, and Robert Schwab, "Does Infrastructure Investment Increase the Productivity of Manufacturing Industry in the U.S.?," Econometrics and the Cost of Capital: Essays in Honor of Dale Jorgenson, Lawrence J. Lau, ed., M.I.T. Press, 2000, 143-164. As NBER Working Paper.
• Hulten, Charles, Esra Bennathan, and Sylaja Srinivasan, "Infrastructure, Externalities, and Economic Development: A Study of Indian Manufacturing Industry," World Bank Economic Review, Vol. 20, No. 2, 2006, 291-308.
• Hulten, Charles, "Infrastructure Effectiveness as a Determinant of Economic Growth: How Well You Use it May Be More Important than How Much You Have," NBER Working Paper 5847, December 1996 (revised December 2005).
• Hulten, Charles, "Transportation Infrastructure, Productivity, and Externalities," paper prepared for the 132nd Round Table of the European Conference of Ministers of Transport, at the Joint OECD/EMCT Transport Research Center, Paris, France, December 2 and 3, 2004. Revised version of paper published in conference volume.

MEASUREMENT OF CAPITAL

• Hulten, Charles, and Frank C. Wykoff, "The Measurement of Economic Depreciation," in Depreciation, Inflation, and the Taxation of Income from Capital, Charles Hulten, ed., The Urban Institute, Washington, D.C., 1981, 81-125 (with).
• Hulten, Charles, "The Measurement of Capital," in Fifty Years of Economic Measurement: The Jubilee of the Conference on Research in Income and Wealth, Ernst R. Berndt and Jack E. Triplett, eds., Studies in Income and Wealth, Vol. 54, The University of Chicago Press for the National Bureau of Economic Research, Chicago, 1990, 119-152.
• Hulten, Charles, "The 'Architecture of Capital Accounting: Basic Design Principles," in A New Architecture for the National Accounts, Conference on Research in Income and Wealth, Dale Jorgenson, Stephen Landefeld, and William Nordhaus, eds., Studies in Income and Wealth, vol. 66, The University of Chicago Press for the National Bureau of Economic Research, Chicago, 2006, 193-214.
• Hulten, Charles, "Getting Depreciation (Almost) Right," paper presented at the meeting of the Canberra II Group in Paris, April 23-27, 2007.