National Institute of Economic and Social Research

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National Institute of Economic and Social Research

The National Institute of Economic and Social Research (NIESR), established in 1938, is Britain's oldest independent economic research institute and think-tank. The institute is located in London.[1][2] It provides research to national and international organistions.

History[edit]

The NIESR was established in 1938 with funding from the Rockefeller Foundation, the Pilgrim Trust, the Leverhulme Trust and the Halley Stewart Trust.[2][1]

Personnel[edit]

Martin Weale was the Institute Director from 1995-2011. From 2011 to late 2015, the position was held by Jonathan Portes, previously, Chief Economist at the Cabinet Office. The current Director is Jagjit Chadha, who took up the position in May 2016.

Lord Burns was President from 2003-2010, followed by Sir Nicholas Monck from 2011-2013. The current President is Sir Charles Bean. Diane Coyle is Chair of the Council of Management, the first woman to hold the position in the history of the Institute.[3]

Organisation[edit]

Research areas covered by the National Institute include macroeconomics and macro-modelling; health and well-being; policy evaluation; welfare; migration; Britain and the EU; inequality, poverty and disadvantage; families, early years and early intervention; education, training and skills; and employment policy and practice.

NiGEM[edit]

An important output of NIESR has been a macroeconomic model called NiGEM (National Institute's Global Econometric Model)[4] which is used to produce quarterly forecasts for the UK and global economy (published in the National Institute Economic Review). Forecasts are also published for various other OECD countries. The model are used by the UK Treasury, IMF, Bank of England, the OECD and European Central Bank.[4][5][6] A Societe Generale researcher used the model to analyse the effect of falling oil prices on the world economy.[7]

References[edit]

  1. ^ a b "About us". National Institute of Economic and Social Research. Retrieved 2 November 2016. 
  2. ^ a b "Inflation 'set to soar to 4% by late 2017'". BBC. 2 November 2016. Retrieved 2 November 2016. NIESR is the UK's oldest independent economic research body and was founded in 1938. 
  3. ^ "Press release: Prof Diane Coyle becomes the first female Chair of NIESR’s Council of Management". www.niesr.ac.uk. Retrieved 31 August 2017. 
  4. ^ a b https://nimodel.niesr.ac.uk/
  5. ^ http://www.oecd.org/eco/outlook/forecastingmethodsandanalyticaltools.htm
  6. ^ http://www.ecnmy.org/engage/to-eu-or-not-to-eu-that-is-the-question/
  7. ^ http://uk.businessinsider.com/societe-generale-oil-price-drop-effects-2014-11

External links[edit]