A consumption measure for automobiles
Caleb Cho et al.
What the paper says
distributed among the individual PCE categories. 4 In the NIPAs, these expenditures are also recorded as imports of goods and services; thus, the PCE and import entries cancel out in deriving GDP. 5 Conversely, the payments by foreign residents to U.S. residents for travel services and the purchases by foreign residents while traveling, working, attending school, or receiving medical treatment in the United States are not included in PCE-though they are included in U.S. production. However, these expenditures are included in the source data that underlie the estimates of most individual PCE categories, where they are indistinguishable from expenditures made by U.S. residents. 6 In order to exclude these expenditures from PCE, they are recorded collectively as "Less: Expenditures in the United States by nonresidents" in the category "Net foreign travel"; this entry negates the expenditures by foreign residents that are embedded in the source data. In the NIPAs, the expenditures by foreign residents are also recorded as exports of goods and services; thus, they are included in deriving GDP.
2 citations
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.15 × 0.4 = 0.06 |
| M · momentum | 0.55 × 0.15 = 0.08 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.