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National Bureau of Economic Research
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is known for proposing start and end dates for recessions in the United States.
Many chairpersons of the Council of Economic Advisers were previously NBER research associates, including the former NBER president and Harvard professor Martin Feldstein. The NBER's current president and CEO is James M. Poterba of MIT.
The NBER was established in 1920 following debates during the Progressive era over income distribution. Founded by Malcolm Rorty and Nachum Stone, the NBER aimed to fill the information gap on economic data. The organization's research is restricted to presenting data and findings without making policy recommendations.
The NBER initially received support from the Carnegie Foundation, the Laura Spelman Rockefeller Foundation, and various corporations. Columbia University professor Wesley Clair Mitchell was the first director of research, guiding the organization's research for 25 years. The NBER's initial projects included measuring labor's share of national income and studying unemployment and business-cycle fluctuations.
In 1927, Mitchell brought in Simon Kuznets, who later played a pivotal role in developing the U.S. national income accounts.[clarification needed] Kuznets' work laid the foundation for the Nobel Prize he received in 1971.
After World War II, the NBER expanded its research scope. Arthur Burns succeeded Mitchell as research director. The 1950s and 1960s saw groundbreaking work by Milton Friedman and Anna Schwartz on monetary policy's impact on business cycles. Research in labor economics also flourished during this period.
Arthur Burns became NBER's president in 1956, followed by John R. Meyer in 1967. Meyer introduced several initiatives, including two NBER journals and the establishment of NBER offices in various cities.
In 1977, Martin S. Feldstein became the NBER's president, transforming the organization. He expanded the NBER's network of university-based affiliates, moved its headquarters to Cambridge, Massachusetts and introduced the NBER Working Paper Series. Feldstein also established research programs focusing on specific areas and initiated the NBER Summer Institute.
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National Bureau of Economic Research
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is known for proposing start and end dates for recessions in the United States.
Many chairpersons of the Council of Economic Advisers were previously NBER research associates, including the former NBER president and Harvard professor Martin Feldstein. The NBER's current president and CEO is James M. Poterba of MIT.
The NBER was established in 1920 following debates during the Progressive era over income distribution. Founded by Malcolm Rorty and Nachum Stone, the NBER aimed to fill the information gap on economic data. The organization's research is restricted to presenting data and findings without making policy recommendations.
The NBER initially received support from the Carnegie Foundation, the Laura Spelman Rockefeller Foundation, and various corporations. Columbia University professor Wesley Clair Mitchell was the first director of research, guiding the organization's research for 25 years. The NBER's initial projects included measuring labor's share of national income and studying unemployment and business-cycle fluctuations.
In 1927, Mitchell brought in Simon Kuznets, who later played a pivotal role in developing the U.S. national income accounts.[clarification needed] Kuznets' work laid the foundation for the Nobel Prize he received in 1971.
After World War II, the NBER expanded its research scope. Arthur Burns succeeded Mitchell as research director. The 1950s and 1960s saw groundbreaking work by Milton Friedman and Anna Schwartz on monetary policy's impact on business cycles. Research in labor economics also flourished during this period.
Arthur Burns became NBER's president in 1956, followed by John R. Meyer in 1967. Meyer introduced several initiatives, including two NBER journals and the establishment of NBER offices in various cities.
In 1977, Martin S. Feldstein became the NBER's president, transforming the organization. He expanded the NBER's network of university-based affiliates, moved its headquarters to Cambridge, Massachusetts and introduced the NBER Working Paper Series. Feldstein also established research programs focusing on specific areas and initiated the NBER Summer Institute.