Winter 2003 Profiles
NBER Profile: Josh Lerner
Josh Lerner is an NBER Research Associate in the Corporate Finance
Program and the Productivity Program. In addition, he is an organizer of the NBER
group on Innovation Policy and the Economy, and serves as co-editor of their
publication, Innovation Policy and the Economy.
Lerner is also the Jacob H. Schiff Professor of Investment Banking at
Harvard Business School, with a joint appointment in the Finance and
Entrepreneurial Management Units. He graduated from Yale College with a Special
Divisional Major that combined physics with the history of technology. After
working for several years on issues concerning technological innovation and public
policy -- at the Brookings Institution, for a public-private task force in Chicago, and
on Capitol Hill -he obtained a Ph.D. in Economics from Harvard University.
Much of Lerner's research focuses on the structure and role of venture capital
organizations. (He has two books on the subject: The Venture Capital Cycle, MIT
Press, 1999, and The Money of Invention, HBS Press, 2001.) He also examines
policies concerning intellectual property protection, particularly patents, and their
impact on growth and high-technology industries. His work has been published in a
variety of top academic journals.
He lives in Hamilton, Massachusetts, with his wife, Wendy Wood, and lots of
four-legged friends. In his spare time, he enjoys nature and his Sicilian donkeys.
NBER Profile: Daron Acemoglu
Daron Acemoglu is a Research Associate in the NBER's Programs in Labor
Studies and Economic Fluctuations and Growth and a Professor of Economics at
MIT. He received a B.A. in economics at the University of York in 1989 and a Ph.D.
in economics at the London School of Economics in 1992. Acemoglu joined the
MIT faculty as an Assistant Professor of Economics in 1993, was promoted to
Pentti Kouri Associate Professor in 1997, and to Professor of Economics in 2000.
His research covers a wide range of areas, including economic development,
human capital theory, growth theory, search theory, and political economy. He is
also editor of the Review of Economics and Statistics, and is associate editor of the
Quarterly Journal of Economics and the Journal of Economic Growth. His work has
been published in a number of leading scholarly journals, including the American
Economic Review, Journal of Political Economy, and the Review of Economic
NBER Profile: Frank R. Lichtenberg
Frank R. Lichtenberg is a Research Associate in the NBER's Program on
Productivity and Program on Health Care. He is also the Courtney C. Brown Professor of
Business at the Columbia University Graduate School of Business.
Lichtenberg received a B.A. in history from the University of Chicago and an
M.A. and Ph.D. in economics from the University of Pennsylvania. He previously taught
at Harvard University and the University of Pennsylvania. He also has served as an expert
for the Federal Trade Commission, the U.S. Dept. of Justice, and various state Attorneys
General, and has testified before Congress. He has worked for several U.S. government
agencies, including the Department of Justice, the Congressional Budget Office, and the
Census Bureau, and has been a visiting scholar at the Wissenschaftszentrum Berlin, the
University of Munich, and elsewhere.
Some of Professor Lichtenberg's research has examined how the introduction of
new technology arising from research and development affects the productivity of
companies, industries, and nations. Recently he has performed studies of the impact of
pharmaceutical innovation on longevity, the effect of computers on productivity in
business and government organizations, and the consequences of takeovers and leveraged
buyouts for efficiency and employment. His work is widely published in leading
In his free time, Lichtenberg enjoys various sports (cycling, running, skiing, and
squash), as well as music, theatre, and travel. He and his wife, Michelle, have two
sons, Andrew and Alec, and live in Scarsdale, NY.