Word: researchers
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Dates: during 1970-1979
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...Research associate Anthony J. Pellechio is one of two full-time staff members hired to do his own research. "You hope you're right and that your results might be useful." Pellechio says, "but you can't go on the assumption that they will be used." In his study of the effect of social security on retirement, he notes that a "retirement effect" induces people to retire early or work less to receive more benefits. He says that, although there is a lot of concern about how social security should be financed, "if social security induces people to retire early...
...Research associates may apply for grants through the bureau, or use the unrestricted contributions that companies and individuals give the NBER--"untied funds that we are able to move into an area without waiting for the gestation of a project," Charles E. McLure Jr., vice president of the NBER, explains. NBER publishes about 100 research papers a year. The bureau faced deficits in fiscal years 1975 and 1976 but, McLure adds, its endowment covered the loss. Feldstein has closed out fiscal '77 and '78 with surplusses...
...objective of bureau research is to provide information on the U.S. economy to policy-makers in the public and private sectors," McLure says. "Our prime interest is to communicate our results to people who use them. Naturally we don't mind them falling into the hands of people who think our projects are worth funding," he adds...
...budgeting process and in determining the character of the bureau funds. "I think there has been more emphasis on economic theory rather than statistics (since Feldstein became president)," Rees comments. "He has areas he wants to stress and he invites people to join the bureau who are doing research in those areas." The New York Times, on May 20, 1979, suggested Feldstein is using the NBER as "his own private vehicle." But people inside the bureau don't see it that way, though they say they clearly feel Feldstein's influence...
Joel B. Slemrode, a research analyst working on his dissertation, says Feldstein was his adviser before, he adds jolingly, the "Marty Feldstein incarnation of the NBER was created." He says Feldstein "probably could be characterized as one who has faith in the ability of the market unfettered to operate efficiently...