National Institute of Economic and Social Research

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National Institute of Economic and Social Research
MottoIndependent and influential economic research since 1938
Formation1938
TypeThink tank
Headquarters2 Dean Trench St, Westminster, London SW1P 3HE
Location
Director
Professor Jagjit S Chadha
Websitewww.niesr.ac.uk/
National Institute of Economic and Social Research

The National Institute of Economic and Social Research (NIESR), established in 1938,[1] is Britain's oldest independent economic research institute. The institute is a London-based[2][3] independent UK registered charity that carries out academic research of relevance to business and policy makers,[4] both nationally and internationally. The Institute receives no core funding  from government or other sources. The bulk of funding comes from research projects awarded  or commissioned by a variety of sources, all acknowledged in full in our published materials. The terms of their grants prohibit any involvement from funding bodies in determining or influencing content. Funders include government departments and agencies, the research councils, particularly the Economic and Social Research Council (ESRC), charitable foundations, the European Commission, and the private sector.  The Institute are partners in three ESRC research centres (LLAKES, the Centre for Macroeconomics, and Rebuilding Macroeconomics), along with ESCoE, which is funded by the Office for National Statistics.

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.[1] 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.[5]

Directors, Presidents and Council members[edit]

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[6] carried out the duties of Director and Chair of Council.[1]

Directors post 1952[edit]

Chairs of Council[edit]

There have been chairs of council since the Institute was created. The first was Lord Stamp,[10] from 1937 to 1942. He was succeeded by Sir Henry Clay, who held the position from 1942 until 1949. Subsequent chairs included Humphrey Mynors, Sir Austin Robinson,[11] Sir John Woods, Sir Robert Hall,[12] Sir Hugh Week, Sir Donald MacDougall,[13] and Sir Kenneth Berrill.[1] Diane Coyle is the current Chair of the Council of Management, the first woman to hold the position in the history of the Institute,[14] taking over the position from Sir Tim Besley.

Presidents[edit]

Lord Burns was President from 2003-2010, followed by Sir Nicholas Monck from 2011-2013, and subsequently Sir Charles Bean. The current President is Sir Paul Tucker.

Organisation[edit]

Research areas covered by the National Institute include Britain and finance;[15] education and labour;[16] employment and social policy;[17] exiting the EU;[18] macroeconomics;[19] and trade, investment & productivity.[20][21]

National Institute Economic Review[edit]

Since 1959, the NIESR has published the National Institute Economic Review.[22] 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.

NiGEM[edit]

An important output of NIESR has been a macroeconomic model called NiGEM (National Institute's Global Econometric Model)[23] 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 is used by the UK Treasury, IMF, Bank of England, the OECD and European Central Bank.[23][24][25] In 2014, a Societe Generale researcher used the model to analyse the effect of falling oil prices on the world economy.[26]

References[edit]

  1. ^ a b c d Jones, Kit (1998). Sixty Years of Economic Research. Plymouth, United Kingdom: Latimer Trend & Company. pp. 1–13. ISBN 978-0952621331.
  2. ^ "About us". National Institute of Economic and Social Research. 2012-08-02. Retrieved 2 November 2016.
  3. ^ "Google Maps".
  4. ^ "Registered charities in England and Wales". Charity Commission. Retrieved 6 March 2018.
  5. ^ "About us". 2012-08-02.
  6. ^ Jewkes, John; Jewke, Sylvias (September 23, 2004). "Clay, Sir Henry (1883–1954), economist". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/32438.
  7. ^ Middleton, Roger (January 10, 2013). "Hopkin, Sir (William Aylsham) Bryan (1914–2009), economist and public servant". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/101835. ISBN 9780198614111.
  8. ^ Frowen, Stephen F. (September 23, 2004). "Saunders, Christopher Thomas (1907–2000), economist". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/76301.
  9. ^ McMahon, Kit (January 8, 2009). "Worswick, (George) David Norman (1916–2001), economist". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/75896.
  10. ^ Beveridge (January 6, 2011). "Stamp, Josiah Charles, first Baron Stamp (1880–1941), statistician and business administrator". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/36237.
  11. ^ Harcourt, G. C. (September 23, 2004). "Robinson, Sir (Edward) Austin Gossage (1897–1993), economist". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/53200.
  12. ^ "Hall, Robert Lowe, Baron Roberthall (1901–1988), economist". Oxford Dictionary of National Biography. Oxford University Press. September 23, 2004. doi:10.1093/ref:odnb/39881.
  13. ^ Peden, G. C. (October 4, 2008). "MacDougall, Sir (George) Donald Alastair (1912–2004), economist and civil servant". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/93612.
  14. ^ "Press release: Prof Diane Coyle becomes the first female Chair of NIESR's Council of Management". www.niesr.ac.uk. 2016-12-14. Retrieved 31 August 2017.
  15. ^ "Britain and Finance". NIESR. 20 November 2017. Retrieved 20 November 2017.
  16. ^ "Education and Labour". NIESR. 20 November 2017. Retrieved 20 November 2017.
  17. ^ "Employment and Social Policy". NIESR. 20 November 2017. Retrieved 20 November 2017.
  18. ^ "Exiting the EU". NIESR. 20 November 2017. Retrieved 20 November 2017.
  19. ^ "Macroeconomics". NIESR. 20 November 2017. Retrieved 20 November 2017.
  20. ^ "Trade, Investment and Productivity". NIESR. 20 November 2017. Retrieved 20 November 2017.
  21. ^ "Research programmes". National Institute of Economic and Social Research. 2013-12-06. Retrieved 2017-11-20.
  22. ^ "National Institute Economic Review". NIER – via SAGE.
  23. ^ a b "NiGEM : Macro economic model, forecasting, econometric software". nimodel.niesr.ac.uk. Retrieved 31 October 2019.
  24. ^ "Forecasting methods and analytical tools - OECD (See "Assessing the current situation")". www.oecd.org. December 2011. Retrieved 31 October 2019.
  25. ^ Earle, Joe. "To EU, or not to EU, that is the question". www.ecnmy.org. Retrieved 31 October 2019.
  26. ^ Kiersz, Andy (14 November 2014). "Here's What a Sustained $20 Drop in Oil Prices Does to the World's Major Economies". uk.businessinsider.com. Retrieved 31 October 2019.

External links[edit]