2019, Janice C. Eberly, "Sluggish Investment"

Among trends of great concern in the United States are a decades-long decline in productivity growth and relatively weak investment in physical capital that has persisted since the Great Recession. Research by Janice C. Eberly of Northwestern University and the NBER shows that the rise in importance of intangible capital can help explain both trends. Moreover, she finds that intangibles may be contributing to the rise of market concentration.