National Bureau Of Economic Research

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

The National Bureau of Economic Research (NBER) is a think tank that supports, publishes, and distributes scholarly research on economics and economic policy. More than 1,400 professors and scholars work on NBER research projects. Founded in 1920, it is a 501(c)(3) nonprofit organization located in Cambridge, Mass., with a branch office in New York City.^[1]

Mission[edit]

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

“	NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals. [2]	”
—National Bureau of Economic Research[1]

History[edit]

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

Work[edit]

The primary activity of the National Bureau of Economic Research is to support and publish scholarly research in various fields of economics. The think tank operates twenty research programs and fifteen working groups, each led by a director or two co-directors.^[3] It also sponsors a Business Cycle Dating Committee.^[4]

NBER works with more than 1,400 researchers, most of whom are professors and scholars of economics or business 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 there is a branch office in New York City.^[1]

Economist, author, and former NBER research fellow Steven Levitt wrote that the organization is important as an "information clearinghouse" because 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 actually appears in academic, peer-reviewed journals."^[5]

Research programs[edit]

NBER researchers are usually affiliated with at least one research program. According to the organization's website, these programs "correspond loosely to traditional fields of study within the field of economics, and they encompass a wide range of research within such fields." Most programs hold biannual meetings and participate in the NBER Summer Institute. Below is a list of the research programs supported by NBER:^[3]

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

Working groups[edit]

Scholars that belong to NBER working groups usually convene once per year to share research findings and draft publications, known as working papers. These groups work on specific topics and sub-fields of economics, usually more directed than programs. Below is a list of the working groups supported by NBER:^[6][7]

A list of NBER working papers, organized by topic area, can be accessed here. Former NBER research fellow Steven Levitt estimated that by 2008, the organization had collected more than 13,000 working papers.^[5]

Business Cycle Dating Committee[edit]

In 1978, the think tank created a committee intended to identify the start and end dates of economic recessions in the United States:^[4][5]

“	The NBER's Business Cycle Dating Committee maintains a chronology of the U.S. business cycle. The chronology comprises alternating dates of peaks and troughs in economic activity. A recession is a period between a peak and a trough, and an expansion is a period between a trough and a peak. During a recession, a significant decline in economic activity spreads across the economy and can last from a few months to more than a year. Similarly, during an expansion, economic activity rises substantially, spreads across the economy, and usually lasts for several years. [2]	”
—National Bureau of Economic Research[4]

Leadership[edit]

As of July 2016, the president of the National Bureau of Economic Research 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 Fellow 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 University, where he received his Doctor of Philosophy degree.^[8][5]

Board of Directors[edit]

As of September 2015, the Board of Directors of NBER included the following individuals:^[9]

Finances[edit]

Based on IRS tax records published on GuideStar, the following is a breakdown of the organization's finances for fiscal years 2011-2015:^[10][11]

Annual revenue and expenses for NBER, 2011-2014
Tax Year	Total Revenue	Total 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's website says that it is funded "by research grants from government agencies and private foundations, by investment income, and by contributions from individuals and corporations."^[1] Corporate and individual sponsors of NBER for fiscal year 2016 included:^[12]

Recent news[edit]

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See also[edit]

• Brookings Institution
• 501(c)(3)
• Nonprofit organization

External links[edit]

Footnotes[edit]

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