HISTORY OF THE NBER
Founded in 1920, the National Bureau of Economic Research is a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works. The NBER is committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community.
Over the years the Bureau's research agenda has encompassed a wide variety of issues that confront our society. The Bureau's early research focused on the aggregate economy, examining in detail the business cycle and long-term economic growth. Simon Kuznets' pioneering work on national income accounting, Wesley Mitchell's influential study of the business cycle, and Milton Friedman's research on the demand for money and the determinants of consumer spending were among the early studies done at the NBER.
THE NBER TODAY
The NBER is the nation's leading nonprofit economic research organization. Ten of the 29 American Nobel Prize winners in Economics and three of the past Chairmen of the President's Council of Economic Advisers have been researchers at the NBER. The more than 500 professors of economics and business now teaching at universities around the country who are NBER researchers are the leading scholars in their fields. These Bureau associates concentrate on four types of empirical research: developing new statistical measurements, estimating quantitative models of economic behavior, assessing the effects of public policies on the U.S. economy, and projecting the effects of alternative policy proposals.
ORGANIZATION OF THE NBER
The NBER is governed by a Board of Directors with representatives from the leading U.S. research universities and major national economics organizations. Other prominent economists from business, trade unions, and academe also sit on the Bureau's Board. Martin Feldstein is the NBER's President and Chief Executive Officer. In addition to the Research Associates and Faculty Research Fellows, the Bureau employs a support staff of 45. The Bureau's main office is in Cambridge, Massachusetts, with additional offices in Palo Alto, California, and New York City.