National Institute of Economic and Social Research
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|Motto||Independent and influential economic research since 1938|
|Headquarters||2 Dean Trench St, Westminster, London SW1P 3HE|
|Professor Jagjit S Chadha|
The National Institute of Economic and Social Research (NIESR), established in 1938, is Britain's oldest independent economic research institute. The institute is a London-based independent UK registered charity that carries out academic research of relevance to business and policy makers, both nationally and internationally.
The NIESR was established in 1938 with funding from the Rockefeller Foundation, the Pilgrim Trust, the Leverhulme Trust and the Halley Stewart Trust. The vision of its founders was to carry out research to improve understanding of the economic and social forces that affect people’s lives, and the ways in which policy can bring about change.
Directors, Presidents and Council members
Professor Noel Hall was the first Director of the Institute, prior to its official existence in 1938, from 1937 until 1940. Geoffrey Crowther then became "acting" Director from 1940 but was called upon for war service in June of that year. From June 1940 to 1949, Sir Henry Clay carried out the duties of Director and Chair of Council.
Directors post 1952
- Bryan Hopkin, 1952-1957
- Christopher Saunders, 1957-1965
- David Worswick, 1965-1982
- Andrew Britton, 1982-1995
- Martin Weale, 1995-2011
- Jonathan Portes, 2011-2015
- Dame Frances Cairncross, (acting Director) 2015-2016
- Professor Jagjit S Chadha, 2016 - present
Chairs of Council:
There have been chairs of council since the Institute was created. The first was Lord Stamp, from 1937 to 1942. He was succeeded by Sir Henry Clay, who held the position from 1942 until 1949. Subsequent chairs included Humphrey Mynors, Austin Robinson, Sir John Woods, Sir Robert Hall, Sir Hugh Week, Sir Donald MacDougall, and Kenneth Berrill. Diane Coyle is the current Chair of the Council of Management, the first woman to hold the position in the history of the Institute, taking over the position from Professor Tim Besley.
Research areas covered by the National Institute include Britain and finance; education and labour; employment and social policy; exiting the EU; macroeconomics; and trade, investment & productivity.
National Institute Economic Review
Since 1959, the NIESR has published the National Institute Economic Review. Principal topics covered by the Review include economic modelling and analysis, education and training, productivity and competitiveness, and workings of the international economy. Each edition Includes detailed forecasts of both UK and World Economies, a commentary, and special articles by Institute researchers and external authors.
An important output of NIESR has been a macroeconomic model called NiGEM (National Institute's Global Econometric Model) 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. A Societe Generale researcher used the model to analyse the effect of falling oil prices on the world economy.
- Jones, Kit (1998). Sixty Years of Economic Research. Plymouth, United Kingdom: Latimer Trend & Company. pp. 1–13. ISBN 0952621339.
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- National Institute of Economic and Social Research official site