Greece After the Storm: New Research
Explores What Happened During the Crisis, and Why

NBER Interview Thomas Phillipon - The Analytics of the Greek Crisis

What was the nature of the financial crisis that sowed chaos in Greece and has shaken the European Union to its foundations? Research presented at the NBER's 31st Annual Conference on Macroeconomics found the analyses at the time were wrong both about the characteristics and the severity of the country's economic implosion. Videos of this and other conference presentations, interviews with presenters, and links to downloadable conference papers are online at 2016 NBER Annual Conference on Macroeconomics.

New NBER Research

25 May 2016

Large Institutional Investors and Stock Price Volatility

Substantial ownership by large institutional investors tends to increase the volatility of a company's stock, according to Itzhak Ben-David, Francesco Franzoni, Rabih Moussawi, and John Sedunov. Large investors' trades are larger, are concentrated on fewer stocks, and generate comparatively higher price impact than those of smaller investors.

24 May 2016

Global Production with Export Platforms

The pending Canada-European Union trade and investment agreement could divert a sizable fraction of the production of EU multinationals from the U.S. to Canada, an analysis by Felix Tintelnot reveals. He finds that multinationals play an important role in transmitting technological improvements to across national borders.

23 May 2016

Family Ruptures, Stress,
and the Mental Health of the Next Generation

Prenatal exposure to the death of a maternal relative increases take-up of ADHD medications during childhood and anti-anxiety and depression medications in adulthood, according to a study by Petra Persson and Maya Rossin-Slater. Further, family ruptures during pregnancy depress birth outcomes and raise the risk of perinatal complications necessitating hospitalization.
More Research

This Week's Working Papers

New in the NBER Digest

The Effect of Disability Insurance Payments on Earnings

Disability payments have a "clear, robust, and substantial income effect" on earnings among some beneficiaries who had relatively high earnings prior to the onset of disability, according to research summarized in the May edition of The NBER Digest. This month's Digest also features examinations of urbanization in rich and poor nations, the effects on innovation levels when universities take a larger share of professor' profits, the benefits for high-achieving minority students of being placed in classrooms for the gifted, the long-term effects of disruptive students in elementary school classrooms, and the impact of childhood poverty on gender gaps in adult employment.

Download the PDF
or Read online

New in the NBER Reporter

The International Monetary System, Then and Now

Some in the international community, most notably France in the 1960s, complained loudly that the Bretton Woods regime afforded the United States "exorbitant privilege." The discarding of that system in the early 1970s should have put an end to that. But Pierre-Olivier Gourinchas writes in the latest issue of the quarterly NBER Reporter that recent research shows the international monetary system retains many structural features of the Bretton Woods regime.

Disability Insurance Programs and Retirement

Vol. 6 in Series on Social Security Around World

Disability insurance programs can play a significant role in the departure of older workers; in some countries, many individuals rely on disability insurance until they are able to enter into full retirement. The sixth stage of an ongoing research project studying the relationship between social security programs and labor force participation, this volume draws on the work of an eminent group of international economists to consider the extent to which differences in labor force participation across countries are determined by the provisions of disability insurance programs. Edited by David A. Wise; published by The University of Chicago Press.

Details and ordering information

NBER Videos

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email:

Contact Us