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AN NBER PUBLICATION ISSUE: No. 9, September 2006

The Digest

A free monthly publication featuring non-technical summaries of research on topics of broad public interest
The results of this very large scale experiment indicate no evidence of improvement in reading scores, math scores, behavior problems, or school engagement overall for any age group... Interventions focused exclusively on neighborhoods, rather than on factors directly related to the child, family, and school, are unable to solve the myriad problems of children growing up in poverty. It is assumed that if poor families move to better neighborhoods their children will...

Research Summaries

Article
If gifted students end up being taught by more qualified teachers, then estimates of the effect of teacher qualifications on student achievement are likely to be higher than if teachers and students were randomly assigned. If gifted students end up being taught by more qualified teachers, then estimates of the effect of teacher qualifications on student achievement are likely to be higher than if teachers and students were randomly assigned. To test that theory,...
Article
Long-term incentives are associated with more heavily cited patents. They are also associated with more frequent awards and more original patents. Many American corporations downsized their centralized corporate research facilities in the late 1980s. They also changed their compensation schemes to rely more heavily on plans tied to corporate performance. But substantial segments of the scientific establishment were unhappy with these shifts -- in 1992, the National...
Article
In 1969 the average tenure for men in the job they held for the longest period during their careers was 21.9 years. In 2002, the comparable figure was 21.4 years. For some years it has been that reported that employees in the United States experienced widespread, substantial declines in job security or stability over the past several decades. Various newspaper articles have suggested that big structural changes in labor markets mean that job security is a "myth," that...
Article
The capitalization of software alone has had an appreciable affect on the measured growth of output per worker in the non-farm business sector, and the growing literature on intangibles suggests that this is just the tip of the iceberg. The revolution in information technology (IT) is apparent in the profusion of new products available in the market place, including PCs, PDAs, ATMs, wi-fi devices, and cell phones. These innovations are part of a broader technological...
Article
The value employees place on options [is] not consistent with the widely held view that employees value options at less than their Black-Scholes Valuation. Most employees value their options at a level that is higher than the Black-Scholes method implies. In The Value of Stock Options to Non-Executive Employees (NBER Working Paper No. 11950), authors Kevin Hallock and Craig Olson empirically estimate the dollar value placed on employee stock options (ESOs) for a...

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