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AN NBER PUBLICATION ISSUE: No. 2, February 2007

The Digest

A free monthly publication featuring non-technical summaries of research on topics of broad public interest
In a 2005 survey of central banks, most respondents said they intended further diversification away from the dollar, and several have recently made public announcements along these lines. Will the euro replace the dollar as the leading international currency? With two-thirds of all international reserves still held in U.S. currency, the challenge of the euro appears remote. Indeed, this was the widely held view when the euro was introduced less than a decade ago. But...

Research Summaries

Article
While leisure per capita has varied over the last 105 years and has exhibited some low frequency movements, it is the same now as it was 105 years ago. Considering rising business productivity and the spread of labor saving household appliances, Americans today must have far more leisure than their counterparts in 1900, right? Well, maybe not. It depends on how you measure work and leisure and which sectors of the population are included in the analysis. In A...
Article
Teachers who received bonus payments were ten percent less likely to depart at the end of the school year than other teachers at the same school. The Federal No Child Left Behind Act mandates that every classroom in the United States be led by a "highly effective" teacher. Shortages of such teachers most commonly occur in schools serving very poor students, and in subject areas such as math and science, where highly qualified teachers can easily find work in other...
Article
Controlling for all variables, ... men's promotion rates were ... 2.2 percentage points higher than women's, ... large relative to the overall mean promotion rate of 9 percent. However, in marked contrast, ...there were essentially no gender differences in overall wage growth at the establishment. In a market economy, wages and promotion are linked because promotions often come with a wage increase. One important question is whether equally qualified men and women...
Article
The United States is the single biggest recipient of immigrants - 35 million, or 12.4 percent of the population, in 2000. Because immigrants are the main economic beneficiaries from immigration and do not participate in decisions on immigration policies, the level of immigrant flows is the least developed part of globalization. To encourage the residents of rich countries to accept a higher level of immigration, the government could provide innovative economic...
Article
There is a strong correlation between illegal parking and existing measures of home country corruption. Even when stationed thousands of miles away, diplomats behave in a manner highly reminiscent of officials in the home country. The underlying causes of corruption remain poorly understood and widely debated. There is little firm evidence relating corruption to real-world causal factors. While social norms are often mentioned as a primary contributor to corruption in...

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