NBER is an American private nonprofit research center that undertakes economic research projects for use by business and policymakers.
Many chairpersons of the Council of Economic Advisers were previously NBER research associates. NBER's CEO is James M. Poterba of MIT.
NBER was founded in 1920 by Malcolm Rorty and Nachum Stone. The aim was to develop reliable data on the econonomy. Funding was provided by foundations, including Carnegie and Rockefeller, and corporate grants. The organization presents data and findings but does not make specific recommendations.
Many individuals associated with NBER have gone on to win the Nobel prize in economics, including Ben Bernanke, Joseph Stiglitz, Milton Friedman, George Akerlof, Simon Kuznets and Paul Krugman.
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