J. Steven Landefeld, PhD

3016 Tidewater Lane Huntingtown Md. [email protected] 410-414-5263 443-684-6305 (cell)

Employment

Consultant to the United Nations, 2014 - present

Distinguished Visiting Professor in , Naval Academy, 2015

Lecturer in Economics, University of Maryland, 2014

Director, Bureau of Economic Analysis, U. S. Department of Commerce, May 1995 – May 2014

Deputy Director, Bureau of Economic Analysis, U.S. Department of Commerce, February 1993-May 1995

Associate Director for International Economics, Bureau of Economic Analysis, U.S. Department of Commerce, August 1990-June 1994

Special Assistant to the Chairman/Chief of Staff, The President's Council of Economic Advisers, November 1988-August 1990

Senior Staff Economist, The President's Council of Economic Advisers, November 1987- November 1990

Director, Business Issues Analysis Division, U.S. Department of Commerce, August 1984- November 1987

Chief, Manufacturing Investment Branch, Business Outlook Division, Bureau of Economic Analysis, U.S. Department of Commerce, July 1982-August 1984

Economist, Business Investment Branch, Business Outlook Division, Bureau of Economic Analysis, U.S. Department of Commerce, October 1981-July 1982

Economist, Environmental Non-market Economics Division, Bureau of Economic Analysis, U.S. Department of Commerce, August 1979-October 1981

Research Assistant Professor/Research Associate, Georgetown University, Public Services Laboratory, August 1976-August 1979

1 Lecturer/Instructor in Economics at the University of Maryland, Georgetown University, George Washington University, and the U.S. Department of Agriculture’s Graduate School, 1975-1981

Statistical Accomplishments:

During my tenure at BEA, the Bureau -- in collaboration with its statistical partners -- has:

 Expanded the coverage of domestic and international services through BEA, Census, and BLS surveys.

 Improved the balance of payments financial accounts through bilateral and multilateral data exchanges; expanded coverage of newly emerging financial instruments; and more complete integration and benchmarking.

 Updated and improved the timeliness, scope, and accuracy of regional and industry data.

 Introduced chain output and price indexes that addressed long-standing biases in the measures of real GDP, productivity and inflation.

 Expanded the use of hedonic indexes that better measure the prices of high-tech goods and services.

 Capitalized R&D and other intangible assets to better track the impact of innovation on the economy

 Accounted for defined benefit pension plans on an accrual basis for better retirement tracking, oversight, planning, and policy;

 Introduced satellite accounts to better measure household production, the environment, human capital, medical care, travel and tourism, the activities of multinational companies, and the distribution of income and spending.

 Developed Integrated BEA-FRB Income, Product, and Financial Accounts and Integrated BEA-BLS Aggregate and Industry Level Productivity-Production Accounts.

 Established the BEA and Federal Economic Statistics Advisory Committee (the joint Advisory Committee for cross-cutting issues affecting BEA, BLS and Census)

2 Management Recognition:

The U.S. Office of Management and Budget (OMB) rated BEA as the most effective agency within the Department of Commerce and among the top five percent of federal agencies rated on their performance by OMB.

According to results from the Organizational Assessment Survey conducted by the U.S. Office of Personnel Management (OPM) BEA is one of the top Federal work places. BEA met or exceeded the highest rating among Federal Agencies on 10 out of 12 dimensions covered by the Survey.

BEA has been rated “green” by the Department of Commerce on all 5 elements of the President’s Management Agenda: Human Capital, Competitive Sourcing, Financial Performance, E-Government, and Budget and Performance.

OMB rates IT investments on ten aspects of IT management such as project management and IT security. OMB ratings of BEA’s IT are among the highest overall scores given to investments within the Department of Commerce

Membership on Committees and Working Groups:

Member of the Executive Board of the National Bureau of Economic Research’s Conference on Research in Income and Wealth, 1995 - present

Member of the Executive Board of the International Association for Official Statistics (IAOS) and Chair of the Publications Committee, 2013-2014

Chair of the United Nation’s Working Group on Integrated National Accounts, 2008- 2014

Member of the Conference Board’s Business Cycle Advisory Panel, 1996-2014

Member of Statistics Canada’s National Accounts Advisory Committee, 2001-2014

Member of the Steering Committee, Joint Program on Survey Methodology, 2000-2014

Member of the U.S. Interagency Council on Statistical Policy, 1995 - 2014

Member of the Expert Committee to Review the National Accounts of Sweden, 2001- 2002

Member of the International Monetary Fund's Balance of Payments Committee, 1992- 94

Member of the IMF Working Party on the Measurement of International Capital Flows, 1991-92

Member of IMF Expert Group on the Balance of Payments Manual, 1992

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Member of the IRS Commissioner's Task Force on Transfer Pricing, 1992-93

Member of the OECD Revision Committee for the Benchmark Definition of Foreign Direct Investment, 1990-92

Awards:

Fellow of the National Association for Business Economics, March, 2015

Distinguished Service Award, Society of American Business Writers and Editors, 2014

Julius Shiskin Award for Leadership in Economic Statistics, National Association for Business Economics, and the Economic Statistics Section of the American Statistical Association, 2006

David O. Cooke Award for Leadership in the Federal Public Service, Washington Area Chapter of the American Society for Public Administration and Government Executive Magazine, 2004 (Presentation by )

Harry Freeman Award for Outstanding Contributions to International Services, Coalition of Service Industries, 2004

Presidential Distinguished Executive Award, 2001

Henri Willem Methorst Medal, International Statistical Institute, 1996

Gold Medal Award, U.S. Department of Commerce, 1994

Silver Medal Award, U.S. Department of Commerce, 1991

Abramson Scroll Award, National Association of Business Economists, 1988

Abramson Scroll Award, National Association of Business Economists, 1986

Bronze Medal Award, U.S. Department of Commerce, 1985

Education:

Ph.D., University of Maryland, 1979 (Economics)

M.A., University of Maryland, 1975 (Economics)

B.S., University of Maryland, 1972 (Business

4 Publications

Measuring Economic Sustainability and Progress, with Dale Jorgenson and Paul Schreyer, NBER Studies in Income and Wealth, University of Chicago Press, October, 2014

Guidelines for Integrated Economic Statistics, (Chair of the Committee on Integrated Economic Statistics), United Nations, , 2013

“The Role of Statistics in the United States’ Economic Future, “ with Shaunda Villones, in Part I, “Beyond GDP, “ in The Global Macro Economy and Finance, Edited by Franklin Allen, Masahiko Aoki, Jen-Paul Fitoussi, Nobuhiro Kiyotaki, Roger Gordon, and Joseph E. Stiglitz, International Economics Association, 2012

“Multinational Enterprises and the Allocation of Output and Value Added to National Economies,” pp. 9-26, with Brent Mouton and Obie Whichard, in The Impact of Globalization on National Accounts, edited by Peter Van de Ven, Chair of the Globalization Working Group, United Nations, New York and Geneva, 2011

“GDP and Beyond: Measuring Economic Progress and Sustainability,” with Brent Moulton, Joel Platt, and Shaunda Villones, Survey of Current Business, April, 2010

“Comments on “The Income- and Expenditure-Side Estimates of U.S. Output Growth,” by Jeremy Nalewaik, Brookings Papers on Economic Activity, Spring 2010

“A New Architecture for the U.S. National Accounts: A Reply to Andre Vanolli,” with Dale Jorgenson, Steve Landefeld, and William Nordhaus, Review of Income and Wealth, 2010

“National Time Accounting and National Economic Accounting,” with Shaunda Villones Measuring the Subjective Well-Being of Nations, edited by Alan B. Krueger, University of Chicago Press, 2009

“Accounting for Household Production; A Prototype Satellite Account Using the American Time Use Survey” with Barbara M. Fraumeni and Cindy M. Vojtech, Review of Income and Wealth, June 2009

“Implementation of a New Architecture for the US National Accounts,” with Dale Jorgenson, American Economic Review, Papers and Proceedings, May 2009

“Taking the Pulse of the Economy: Measuring GDP,” with Eugene P. Seskin and Barbara Fraumeni, Journal of Economic Perspectives, Spring 2008

“SNA 2008: Updating and Improving the Theoretical Foundation for National Accounts,” with Shaunda Villones, Papers and Proceedings of the International Statistical Institute Meetings, Lisbon Portugal, September 2007

5 Publications, continued:

“The Importance of Data Sharing to Consistent Macroeconomic Data,” with Dennis Fixler, Improving Business Statistics Through Inter-Agency Data Sharing, September, National Academies Press, 2006

A New Architecture for the National Accounts, with Dale Jorgenson and William Nordhaus, NBER Studies in Income and Wealth, University of Chicago Press, July, 2006

“The Importance of, and Pitfalls in, Measuring Globalization,” with Obie Whichard, al Review, Statistical Journal of the United Nations Commission for Europe, Volume 23, Number 2-3, 2006

“Updating Concepts and Methods for Index Numbers, Prices, and Productivity: How Are We Doing?” Proceedings from the SSHRC International Conference on Index Number Theory and the Measurement of Prices and Productivity, Vancouver, Canada, July 2, 2004

“Globalization and Multinational Companies: What Are the Questions, and How Are We Doing in Answering Them?” with Ralph Kozlow, Statistical Journal of the United Nations Commission for Europe, Volume 20, Number 2, 2003

“Chained-Dollar Indexes: Issues, Tips on Their Uses, and Upcoming Changes,” with Brent R. Moulton and Cindy M. Vojtech, Survey of Current Business, November, 2003

“Hedonic Analysis of Arthritis Drugs: Comment,” in Medical Care Output and Productivity, Editors David M. Cutler and Ernst R. Berndt, Studies in Income and Wealth Volume 62, University of Chicago Press, 2001

“Measuring the New Economy,” with Barbara M. Fraumeni, Survey of Current Business, March 2001

“A Note on the Impact of Hedonics and Computers on Real GDP,” with Bruce T. Grimm, Survey of Current Business, December 2000

“Accounting for Household Production Within a National Accounts Framework, with Stephanie L. McCulla, The Review of Income and Wealth, September, 2000

“Wassily Leontief and His Contributions to Economic Accounting,” with Stephanie L. McCulla, Survey of Current Business, March 1999

“Robert Eisner’s Contributions to Economic Measurement,” with Stephanie L. McCulla, Survey of Current Business, January 1999

“Integrated Economic and Environmental Accounts: Lessons from the IEESA,” with Stephanie L. Howell, in Environmental Accounting in Theory and Practice, edited by Kimio Uno and Peter Bartelmus, Kluwer, 1998 6 Publications, continued

“BEA’s Chain Indexes, Time Series, and Measures of Long-term Economic Growth,” with Robert P. Parker, Survey of Current Business, May 1997

"Accuracy, Timeliness, and Relevance," in Economic Statistics: Accuracy, Timeliness, and Relevance, editor, Zoltan Kennesy, International Statistical Institute, July 1997

"BEA's Mid-Decade Strategic Plan: A Progress Report," with Robert P. Parker, Survey of Current Business, June 1996

“BEA’s Benchmark Revision of the NIPA’s: New Measures of Output and Prices,” The Economic Outlook for 1996, University of Michigan, 1995

"Preview of the Comprehensive Revision of the National Income and Product Accounts: BEA's New Featured Measures of Output and Prices," with Robert P. Parker and Jack E. Triplett, Survey of Current Business, July 1995

"Mid-Decade Strategic Review of BEA's Economic Accounts: An Update," with Carol S. Carson, Survey of Current Business, April 1995

"Mid-Decade Strategic Review of BEA's Economic Accounts," with Carol S. Carson, Survey of Current Business, February 1995.

"Integrated Economic and Environmental Satellite Accounts," with Carol S. Carson et al, Survey of Current Business, April 1994

"Accounting for Natural Resources: Issues and BEA's Initial Estimates," with Carol S. Carson et al, Survey of Current Business, April 1994

"Alternative Frameworks for U.S. International Transactions," with Obie G. Whichard and Jeffrey H. Lowe, Survey of Current Business, September 1993

“Expansion of the Balance of Payments Framework,” Voorborg Group: Eighth Meeting On Service Statistics, Statistics Norway, 1993

“Rates of Return on Direct Investment," with Ann M. Lawson and Douglas B. Weinberg, Survey of Current Business, August 1992

"Factors Driving Foreign Direct Investment," with Sumiye O. McGuire, Chapter 2, Foreign Direct Investment in the United States, August 1991

"Valuation of the U.S. Net International Investment Position," with Ann M. Lawson, Survey of Current Business, May 1991

"Inflation and the International Outlook for Profits," U.S. Corporate Earnings Outlook," The Conference Board, 1989

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Publications, continued

"U.S. Trade in Services," with Kan Young in United States Service Industries Handbook, edited by Wray O. Candillis, Praeger, 1988

"Why are Returns to Capital Falling?" Business Economics, January 1988 (Recipient of the National Association of Business Economist's Abramson Scroll Award)

"Rates of Return on Private Non-Residential Capital," with Dennis Pastore, 1988 U.S. Industrial Outlook, January 1988

"International Trade in Services: Its Composition, Importance, and Links to Merchandise Trade," Business Economics, April 1987

"A Comparison of Anticipatory Surveys and Econometric Models in Forecasting U.S. Business Investment," with Eugene Seskin, Journal of Economic and Social Measurement, April 1986

"The Trade Deficit and the Value of the Dollar," with Kan Young, Business Economics, October 1985. (Also recipient of the National Association of Business Economist's Abramson Scroll Award.)

"National Accounting for Non-Renewable Natural Resources in the Mining Industries," with James R. Hines, Review of Income and Wealth, International Association for Research in Income and Wealth, March 1985

"Measuring the Returns to Biomedical Research: Issues and Problems," in Pharmaceutical Economics, edited by Bjorn Lindgren, Liber Forlag, 1984

"Estimates of the Service Values and Opportunity Costs of Government Capital, 1948- 78," with Frank Martin and Janice Peskin, Review of Income and Wealth, September 1984

"Plant and Equipment Expenditures, The Four Quarters of 1983," with Eugene Seskin, Survey of Current Business, and eight other articles on investment spending and capacity utilization between September 1982 to June 1984.

"The Economic Value of Life: Linking Theory to Practice," with Eugene Seskin, American Journal of Public Health, June 1982. (At one point this methodology was used by a wide range of countries for cost-benefit analysis involving the valuation of life)

"Measuring the Contribution of Biomedical Research to the Production of Health," with Charles Vehorn and Douglas Wagner, Research Policy, Spring 1982

"Biomedical Research and Illness: 1900-1979," with Solomon Schneyer and Frank Sandifer, Health and Society: Millbank Memorial Fund Quarterly, Spring 1981

8 Publications, continued

"Estimating Health and Economic Benefits: The Case of Occupational Safety Regulations," Proceedings of the Public Health Conference on Records and Statistics, December 1980

"Estimated Direct Costs of Illness," with Charles Vehorn, Douglas Wagner, and Robert Rycroft, in Cost of Disease and Illness in the United States in the Year 2000, Selma Mushkin et al, special supplement to Public Health Reports, September/October 1978

Presentations:

I have regularly given presentations and talks to key partners and customers. In recent years, I have given talks to:

 International and national statistical organizations including those of the Organization for Economic Co-ordination and Development (OECD), the International Monetary Fund (IMF), the European Union (EU) , the United Nations (UN), the Russian Federation, and the Chinese National Bureau of Statistics.

 Professional organizations including the International Association for Research in Income and Wealth (IARIW), the NBER’s Conference on Research in Income and Wealth (CRIW), the Association of University and Business Researchers (AUBER), the Consortium of Social Science Associations (COSSA), American Economic Association (AEA), the Society of Government Economists (SGE), the Council for Economic and Community Research(C2ER), and the Council of Professional Associations on Federal Statistics (COPAFS).

 Business groups including the National Association for Business Economics (NABE), the National Intellectual Property Task Force, and Local Business Economics Groups from cities such as New York, Chicago, Dallas, Washington, Charlotte, and Charleston.

 Policy makers at the Federal Reserve, the Congress, the Council of Economic Advisers, Treasury, the Department of Commerce, and international policy groups at the IMF, the OECD, the EU, and the UN.

Testimony before the U.S. Congress:

In addition to hearings and testimony before Appropriations Sub-Committee members and staff on BEA’s budget, I have also appeared before Congress for testimony on non- budget issues including:

 Testimony on GDP and the state of the economy before a Joint Economic Committee Hearing on “The Impact of the Recovery Act on Economic Growth,“ October 29, 2009

9 Testimony before the U.S. Congress, continued:

 Testimony on GDP and the state of the economy before a Joint Economic Committee Hearing on “Faltering Economic Growth and the Need for Stimulus,“ October 30, 2008

 Testimony on alternative measures of economic welfare before a Senate Commerce Committee Hearing on “Rethinking GDP,” March 12, 2008

 Testimony on BEA and the Statistical System before the Census Sub-Committee on Government Reform, April 5, 2001

Media:

As BEA Director and in my professional capacity, I am often interviewed and cited in major print and on-line media including the Wall Street Journal, the New York Times, the Washington Post, the L.A. Times, The Economist, Business Week, Bloomberg News, McClatchy Newspapers, and the Associated Press. I also am called upon to give more extensive interviews and participate in discussion groups and call-in shows. Examples include:

 PBS News Hour: “From Machines to Manicures, what goes into GDP these days?” April 29, 2014, see: http://www.pbs.org/newshour/making-sense/machines- manicures-goes-gdp-days/

 C-Span: I have appeared eight times on C-Span television programs including five appearances on the Washington Journal call-in show to discuss U.S. Productivity, Myths and Misperceptions About the U.S. Economy, Economic Growth and Well Being, U.S. International Trade and Investment, and the Personal Saving Rate. For example, see: http://www.c-spanvideo.org/program/WJStev. I have also appeared three times on other extended C-Span programs, including testimony for Congress on Stimulus for Economic Recovery.

 CBS News, What is the Origin of GDP, and CBS Evening News Arts and Entertainment now part of GDP Act 7/31/13, http://www.cbsnews.com/video/watch/?id=50152029n; . http://www.cbsnews.com/video/watch/?id=50152052n&tag=api

 National Public Radio: I been interviewed by NPR on a number of occasions. For their All Things Considered program. The topics discussed have included Better Accounting Will Boost U.S. GDP and Why GDP Is Like GPA. See for example: http://www.npr.org/2013/07/30/207048430/better-accounting-will-boost-u-s-gdp

10 Media, continued

 Over the years, I have appeared on other media outlets such as BBC News, CNBC News, Power Lunch, and on CNN’s Lou Dobbs Tonight program.

 The Economist: I participated in one of the Economist’s on-line debates. My “opponent” was Andrew Oswald, and Michael Boskin and Enrico Giovannini were featured guest speakers from the floor. The topic was “GDP as a Measure of Standards of Living,” The continuing multi-part debate was published in The Economist’s on-line edition, April 20-28, 2010 http://www.economist.com/debate/overview/171.

 American Statistical Association’s AMSTAT News: “Meet BEA Director Steve Landefeld,” http://magazine.amstat.org/blog/2011/08/01/landefeldaug11/

 I also posted regular items on the BEA Director’s Blog, and “tweet” on questions and topics of concern and interest to BEA customers and the public. For example, see http://blog.bea.gov/2013/09/11/economic-measurement-toolkit/

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