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NATIONAL BUREAU OF ECONOMIC RESEARCH



2017 Summer Institute Methods Lectures Focus
on Research Avenues Opened by Data Linking

The increasing availability of large administrative data sets from both the public and private sectors has placed new emphasis on the tools and techniques for linking data from multiple sources. NBER Research Associates Martha Bailey (above) of the University of Michigan, John M. Abowd of Cornell University and the U.S. Bureau of the Census, and Joseph Ferrie of Northwestern University explained the possibilities and challenges of data linking in the Methods Lectures series at the 2017 NBER Summer Institute.
                                                                             Videos of the full presentations

New NBER Research

15 September 2017

Nudging Retirement Savings:
A Field Experiment on Supplemental Plans

Robert L. Clark, Robert G. Hammond, Melinda Sandler Morrill, and Christelle Khalaf report that, in a field experiment with older public employees in North Carolina, participants in an employer-provided supplemental retirement plan who received an informational nudge increased their contributions in the months following the intervention.

14 September 2017

The Impacts on Puerto Rico's Economy of Repeal
of Section 936 Corporate Tax Exemptions

The phase out of the IRS Section 936 tax exemption program for U.S. corporations reduced average manufacturing wages in Puerto Rico by 16.7 percent and lowered the number of manufacturing establishments by between 18.7 and 28 percent, a study by Zadia M. Feliciano and Andrew Green shows.

13 September 2017

Rethinking the Power of Forward Guidance

The Bank of Japan’s introduction of inflation targeting and aggressive use of forward guidance in 2013 had limited success in reflating the Japanese economy. Mark Gertler argues that this may be due households having adaptive rather than rational expectations about inflation, and needing direct evidence that the central bank is capable of moving inflation to target.
More Research

New in the NBER Reporter

Examining the Consequences of Change
In the Asset Management Industry




The asset management industry used to be dominated by small firms primarily offering active portfolio management services; today the industry is significantly more concentrated and the leading products are index-based, passive investment vehicles. Itzhak Ben-David examines the consequences, of this dramatic shift in the current edition of The NBER Reporter. Also featured in the quarterly publication are economists' reports on their work on price dispersion and bargain hunting in the macroeconomy, the impacts of air pollution, the development of the American economy, and energy efficiency policies.
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NBER in the News


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Focus on Hurricanes and Climate Change Echoes
Decade-old Research on Storms' Economics


The recent devastation spread by hurricanes Harvey and Irma in the Caribbean, Texas, and Florida, has revived public and media attention to the possible impacts of climate change on weather. (Read about it in The New York Times and The Washington Post.) In a 2006 analysis of the numerous hurricanes and record damage 2005, NBER Working Paper No. 12813 documented a rise in the frequency and intensity of tropical cyclones in the North Atlantic, found "substantial vulnerabilities" to intense hurricanes along America's Atlantic coast, and projected billions of dollars in increased costs of annual U.S. hurricane damage.


New in the NBER Digest

Arrival of High-Speed, High-Capacity Internet
Has Widespread Economic Benefits in Africa




Introduction of high-speed, high-capacity internet service from other continents to Africa has large positive effects on employment in higher-skill occupations and is associated with greater firm entry, productivity, exports, and other economic benefits that boost income and wealth, according to research summarized in the September edition of The NBER Digest. Other studies featured in the September Digest are an examination of hiring of women by venture capital firms, a look at the rise in young American men's video gaming hours, an exploration of the direct effects of home purchases on household spending, an analysis of scientists' and engineers' roles in U.S. industry, and a calculation of which colleges best prepare students from low-income families for high-earning careers.
                                                                                          Download the PDF


New in the NBER Bulletin on Aging and Health

Incremental U.S. Emission Controls Provide
Setting for Pollution Exposure Study




The U.S. Acid Rain Program introduced in 1995 initially regulated sulfur dioxide output of only the 110 highest emitting power plants, making it possible for researchers to identify long-term effects of pollution exposure on otherwise similar populations. A study summarized in the current edition of the NBER's Bulletin on Aging and Health finds that trends in mortality changed significantly after the onset of the Acid Rain Program between populations near to and far from affected plants, linking reduction in sulfur dioxide emissions to a decline in mortality.
                                                                                          Download the PDF


Robert Merton, Pioneer in Continuous-Time Finance,
Speaks at Long-Term Asset Management Conference

Nobel laureate Robert Merton delivered the keynote address at the second annual NBER Conference on New Developments in Long-Term Asset Management. The conference series, sponsored by Norges Bank Investment Management, the asset management unit of Norway's central bank, explores issues of risk measurement and portfolio selection facing long-horizon investors such as pension funds, endowments, and sovereign wealth funds.
                              Complete Merton lecture and summaries of conference papers






 
 
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