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National Bureau of Economic Research
NBER.jpg
Basic facts
Location: Cambridge, Mass.
Type: 501(c)(3)
Top official: James Poterba, President
Yr founded: 1920
Employees: 45
Website: Official website
Budget
2015: $34,555,844

The National Bureau of Economical Research (NBER) is a think tank that supports, publishes, and distributes scholarly research on economics and economical policy. More than 1,400 professors and scholars work on NBER research projects. Founded in 1920, it is a 501(c)(three) nonprofit organisation located in Cambridge, Mass., with a branch role in New York City.[1]

Mission

On its website, NBER gives the following mission statement:[1]

"

NBER is a private, non-profit, non-partisan arrangement defended to conducting economic enquiry and to disseminating research findings amid academics, public policy makers, and business professionals. [2]

"
—National Agency of Economical Enquiry[1]

History

NBER was founded in 1920. According to its website, "twenty-v Nobel Prize winners in Economics and thirteen past chairs of the President's Council of Economic Advisers take held NBER affiliations."[1]

Work

The primary action of the National Bureau of Economic Inquiry is to support and publish current scholarly research in diverse fields of economics. The recollect tank operates twenty research programs and fifteen working groups, each led by a director or two co-directors.[iii] It too sponsors a Business concern Cycle Dating Committee.[4]

NBER works with more than than i,400 researchers, near of whom are professors and scholars of economics or business organization at North American colleges and universities. The organization also employs a support staff of 45 people. Its main office is located in Cambridge, Mass., and in that location is a branch office in New York City.[1]

Economist, author, and erstwhile NBER research boyfriend Steven Levitt wrote that the organization is important every bit an "data clearinghouse" considering it "serves the critical function of letting economists know what other economists are working on now, as opposed to two or three years from now, when the research really appears in bookish, peer-reviewed journals."[5]

Inquiry programs

NBER researchers are ordinarily affiliated with at to the lowest degree one research plan. According to the organisation'due south website, these programs "correspond loosely to traditional fields of study within the field of economics, and they cover a broad range of research inside such fields." About programs hold biannual meetings and participate in the NBER Summer Plant. Beneath is a list of the research programs currently supported by NBER:[3]

  • Aging (AG)
  • Asset Pricing (AP)
  • Children (CH)
  • Corporate Finance (CF)
  • Development Economics (DEV)
  • Development of the American Economic system (DAE)
  • Economics of Education (ED)
  • Economical Fluctuations and Growth (EFG)
  • Environmental and Energy Economics (EEE)
  • Wellness Care (HC)
  • Health Economics (HE)
  • Industrial Organisation (IO)
  • International Finance and Macroeconomics (IFM)
  • International Trade and Investment (ITI)
  • Labor Studies (LS)
  • Law and Economics (LE)
  • Monetary Economics (ME)
  • Political Economic system (Pol)
  • Productivity, Innovation, and Entrepreneurship Program (PR)
  • Public Economics (PE)

More than complete descriptions of these programs can be accessed here, on the NBER website.

Working groups

Scholars that vest to NBER working groups usually convene in one case per yr to share research findings and draft publications, known as working papers. These groups piece of work on specific topics and sub-fields of economics, unremarkably more directed than programs. Below is a list of the working groups currently supported past NBER:[vi] [7]

  • Behavioral Finance (BF)
  • Chinese Economy (CE)
  • Cohort Studies (CS)
  • Economic science of Criminal offense (CRI)
  • Economic science of National Security (ENS)
  • Entrepreneurship (ENT)
  • Household Finance (HF)
  • Innovation Policy (IPE)
  • Insurance (INS)
  • Market Design (MD)
  • Market place Microstructure (MM)
  • Organizational Economic science (OE)
  • Personnel Economic science (PER)
  • Risks of Financial Institutions (FR)
  • Urban Economics (UE)

A list of NBER working papers, organized by topic area, can be accessed here. Former NBER research fellow Steven Levitt estimated that past 2008, the organization had nerveless more than 13,000 working papers.[v]

Business concern Cycle Dating Commission

In 1978, the think tank created a committee intended to identify the offset and finish dates of economic recessions in the United States:[4] [v]

"

The NBER's Business organization Cycle Dating Committee maintains a chronology of the U.S. business concern cycle. The chronology comprises alternating dates of peaks and troughs in economical activity. A recession is a period betwixt a peak and a trough, and an expansion is a flow between a trough and a peak. During a recession, a significant decline in economic activity spreads beyond the economy and can last from a few months to more than a yr. Similarly, during an expansion, economic activity rises essentially, spreads across the economy, and usually lasts for several years. [2]

"
—National Agency of Economic Inquiry[iv]

Leadership

As of July 2016, the president of the National Bureau of Economical Inquiry was Dr. James Poterba. He took on this position in 2008. Poterba is also the Mitsui Professor of Economics at the Massachusetts Institute of Technology, and a Swain of the American Academy of Arts and Sciences and the Econometric Society. He studied economics at Harvard University and then as a Marshall Scholar at Oxford Academy, where he received his Doctor of Philosophy degree.[8] [5]

Board of Directors

As of September 2015, the Board of Directors of NBER included the post-obit individuals:[9]

Officers

  • Martin B. Zimmerman, Chairman
  • Karen N. Horn, Vice Chairman
  • James Poterba, President and Chief Executive Officer
  • Robert Mednick, Treasurer
  • Alterra Milone, Corporate Secretary
  • Kelly Horak, Controller and Banana Corporate Secretary
  • Denis Healy, Assistant Corporate Secretarial assistant

Directors by University Appointment

  • Timothy Bresnahan, Stanford University
  • Pierre-André Chiappori, Columbia University
  • Alan V. Deardorff, University of Michigan
  • Ray C. Off-white, Yale University
  • Edward Foster, Academy of Minnesota
  • John P. Gould, University of Chicago
  • Mark Grinblatt, University of California at Los Angeles
  • Bruce Hansen, University of Wisconsin-Madison
  • Benjamin Hermalin, Academy of California at Berkeley
  • Marjorie B. McElroy, Duke University
  • Joel Mokyr, Northwestern University
  • Andrew Postlewaite, Academy of Pennsylvania
  • Cecilia Rouse, Princeton University
  • Richard Schmalensee, Massachusetts Constitute of Technology
  • David B. Yoffie, Harvard University

Directors by Appointment of Other Organizations

  • Jean-Paul Chavas, Agricultural and Applied Economic science Clan
  • Martin J. Gruber, American Finance Association
  • Arthur Kennickell, American Statistical Clan
  • Jack Kleinhenz, National Association for Business concern Economics
  • William W. Lewis, Committee for Economical Development
  • Robert Mednick, American Constitute of Certified Public Accountants
  • Alan L. Olmstead, Economic History Clan
  • Peter L. Rousseau, American Economical Association
  • Gregor W. Smith, Canadian Economics Association
  • William Spriggs, American Federation of Labor and Congress of Industrial Organizations
  • Bart van Ark, Conference Lath

Directors at Large

  • Peter C. Aldrich
  • Elizabeth E. Bailey
  • John H. Biggs
  • John S. Clarkeson
  • Don R. Conlan
  • Kathleen B. Cooper
  • Charles H. Dallara
  • George C. Eads
  • Jessica P. Einhorn
  • Mohamed El-Erian
  • Linda Ewing
  • Jacob Frenkel
  • Judith M. Gueron
  • Robert S. Hamada
  • Peter Blair Henry
  • John Lipsky
  • Laurence Meyer
  • Michael H. Moskow
  • Alicia H. Munnell
  • Robert T. Parry
  • John S. Reed
  • Marina five. North. Whitman

Directors Emeriti

  • George Akerlof
  • Jagdish Bhagwati
  • Carl F. Christ
  • Franklin Fisher
  • George Hatsopoulos
  • Saul H. Hymans
  • Rudolph A. Oswald
  • Peter G. Peterson
  • John J. Siegfried
  • Craig Swan

Finances

Based on IRS tax records published on GuideStar, the post-obit is a breakdown of the organization'south finances for fiscal years 2011-2015:[x] [11]

Annual revenue and expenses for NBER, 2011-2014
Tax Year Total Revenue Full Expenses
2015 $34,555,844 $32,891,002
2014 $35,711,166 $32,979,628
2013 $39,720,762 $35,749,616
2012 $39,164,745 $36,411,282
2011 $40,002,023 $38,449,627

NBER'southward website says that it is funded "past research grants from government agencies and private foundations, by investment income, and by contributions from individuals and corporations."[i] Corporate and individual sponsors of NBER for fiscal yr 2016 included:[12]

Corporations and Corporate Foundations

Contributing $x,000 - $25,000:

  • AIG
  • AQR
  • Bank for International Settlements
  • Bracebridge Upper-case letter
  • Brevan Howard
  • Capital Group Companies
  • Credit Suisse
  • ExxonMobil
  • Fuller & Thaler Nugget Management
  • General Electric
  • General Motors Foundation
  • Goldman Sachs
  • Google
  • Insurance Information Institute
  • JP Morgan Chase Institute
  • Pfizer, Inc.
  • Vanguard

Contributing $5,000 or Less:

  • Board of Governors of Federal Reserve Organization
  • Haver Analytics, Inc.
  • Macroeconomic Advisers
  • U. S. Regional Federal Reserve Banks (12)


Private Supporters

Contributing $5,000 or Less:

  • Allen Sinai
  • Francis Schott

Central Banks Contributing to Support NBER Summer Establish

Contributing $ten,000 - $15,000:

  • Bank of France
  • Bank of Italy
  • Banking company of Nippon
  • Banking company of Netherlands
  • Monetary Authority of Singapore
  • Reserve Bank of India

Contempo news

The link below is to the most recent stories in a Google news search for the terms 'National Bureau of Economic Research' NBER. These results are automatically generated from Google. Ballotpedia does not curate or endorse these manufactures.

See also

  • Brookings Establishment
  • 501(c)(3)
  • Nonprofit organisation

External links

  • NBER website
  • Profile on EDIRC, a project of the Federal Reserve Bank of St. Louis
  • NBER on social media:
    • Twitter
    • Facebook
    • LinkedIn
  • NBER working papers, by topic
  • NBER monographs published by the Academy of Chicago Press
  • NBER RSS feeds
  • News about NBER from The Economist
  • News nigh NBER from The New York Times

Footnotes

  1. 1.0 1.1 1.2 1.3 i.4 i.5 National Bureau of Economic Research, "Near the NBER," accessed July seven, 2016
  2. 2.0 ii.1 Note: This text is quoted verbatim from the original source. Whatever inconsistencies are owing to the original source.
  3. iii.0 3.1 National Agency of Economic Research, "Major Programs at the NBER," accessed July vii, 2016
  4. 4.0 4.1 4.2 National Bureau of Economic Enquiry, "The NBER's Business organization Bicycle Dating Committee," accessed July xv, 2016
  5. five.0 5.ane five.two 5.three Freakonomics Blog, "A Changing of the Guard at the National Bureau of Economic Inquiry," February xx, 2008
  6. National Bureau of Economical Research, "Working Groups," accessed July 7, 2016
  7. National Agency of Economic Inquiry, "NBER Working Papers Listed by Working Grouping," accessed July 14, 2016
  8. National Bureau of Economic Research, "James Poterba," accessed July 7, 2016
  9. National Bureau of Economic Research, "Board of Directors," accessed July 7, 2016
  10. GuideStar, "National Bureau of Economical Research," accessed July 11, 2016
  11. National Bureau of Economical Research, "National Agency of Economic Research, Inc., Summary Statements for the Fiscal Year concluded June 30th, 2015," accessed July fifteen, 2016
  12. National Bureau of Economic Inquiry, "NBER Corporate, Corporate Foundations and Private Supporters: Fiscal Yr 2016 (ended 6/30/2016)," accessed July 14, 2016