AN NBER PUBLICATION ISSUE: No. 3, October 2020

The Reporter

A free quarterly publication featuring program updates, several summaries of affiliates' research, and news about the NBER
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Author(s): Claudia Goldin
My talk will take us on a Journey across a Century of Women — a 120-year odyssey of generations of college-graduate women from a time when they were only able to have either a family or a career (sometimes a job), to now, when they anticipate having both a family and a career. More women than ever before are within striking distance of these goals. Fully 45 percent of young American women today will eventually have a BA degree, and more than 20 percent of them will obtain...

Research Summaries

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Article
Author(s): Trevon D. Logan
The United States has long had racially homogeneous political leadership. For example, 97 percent of all Republican elected officials and 79 percent of all Democratic elected officials are White.1 Would more Black, Hispanic, and Asian officials advance different policies in office, or would their policies be similar since those officials would represent the same communities? Theoretically, the race of a politician may or may not matter. Under a classic median voter model...
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Article
Author(s): Anusha Chari
International financial integration has increasingly exposed capital markets in emerging nations to shocks that originate outside their domestic economies. Theoretical open-economy macro models propose a variety of mechanisms by which global financial conditions are transmitted from developed to emerging markets. Candidate mechanisms include advanced-economy monetary policy spillovers, the risk-bearing capacity of international financial intermediaries, liquidity in...
Article
Author(s): Frank A. Wolak
Electricity supply industries in many parts of the world are undergoing disruptive change because of policymakers’ desire to reduce energy-sector greenhouse gas (GHG) emissions. Electrifying energy services such as transportation and space heating can significantly reduce these emissions globally. The transportation, electricity, and space-heating sectors currently account for 28, 27, and 9 percent of US GHG emissions, respectively. It follows that reducing GHG emissions...
Article
Safe assets are integral to the functioning of banks, financial markets, and the international financial system. Financial market participants use safe assets to meet liquidity and transaction needs, as high-quality collateral for loans and derivative contracts, and as default-free stores of value. These services imply a nonpecuniary return on safe assets, a convenience yield, that drives up the prices of safe assets and lowers their expected return in equilibrium. The...

News: Fall 2020

Article
John Lipsky was elected chair of the NBER’s Board of Directors at the board’s September 14 meeting.  He succeeds Karen N. Horn, a partner in the Brock Capital Group, former CEO of Bank One, and former president of the Federal Reserve Bank of Cleveland, who had served since 2017. Lipsky, the Peter G. Peterson Distinguished Scholar at Johns Hopkins University’s Paul H. Nitze School of Advanced International Studies (SAIS) and a senior fellow of SAIS’s Foreign Policy...
Article
The NBER Board of Directors elected four new members at its September 2020 meeting. Dana M. Peterson is the new representative of the Conference Board, succeeding Bart van Ark.  She serves as chief economist at the Conference Board. Prior to joining that organization, she was the North American and global economist at Citigroup, where she analyzed global economic themes with financial market implications. She also was a researcher in the fiscal analysis section...
Article
The NBER Board of Directors appointed 42 research associates at its September 2020 meeting. All but one of these appointees were previously faculty research fellows; most received tenure recently at their home institutions. One appointee is a former research associate who has returned from government service. Research associates must be tenured faculty members at North American colleges or universities; their appointments are recommended to the board by directors of the...

Conferences and Meetings

  • Article
    Gender in the Economy An NBER conference on Gender in the Economy took place online July 24–25. Research Associates Jessica Goldberg of the University of Maryland, Claudia Goldin of Harvard University, Seema Jayachandran of Northwestern University, Claudia Olivetti of Dartmouth College, and Tom Vogl of the University of California, San Diego organized the meeting, which was sponsored by the Bill & Melinda Gates Foundation. These researchers’ papers were presented and...

  • Article
    Economic Fluctuations and Growth Members of the NBER’s Economic Fluctuations and Growth Program met July 11 online. Research Associates Benjamin Moll of Princeton University and Valerie A. Ramey of the University of California, San Diego organized the meeting. These researchers’ papers were presented and discussed: Antonio Coppola, Harvard University; Matteo Maggiori, Stanford University and NBER; Brent Neiman, University of Chicago and NBER; and Jesse Schreger,...
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