Greece After the Storm: New Research
Explores What Happened During the Crisis, and Why

NBER Interview Thomas Phillipon - The Analytics of the Greek Crisis

What was the nature of the financial crisis that sowed chaos in Greece and has shaken the European Union to its foundations? Research presented at the NBER's 31st Annual Conference on Macroeconomics found the analyses at the time were wrong both about the characteristics and the severity of the country's economic implosion. Videos of this and other conference presentations, interviews with presenters, and links to downloadable conference papers are online at 2016 NBER Annual Conference on Macroeconomics.

New NBER Research

27 May 2016

What is the Marginal Benefit of Payment-Induced Family Care?

Family involvement significantly decreases Medicaid utilization, according to a study by Norma B. Coe, Jing Guo, R. Tamara Konetzka, and Courtney Harold Van Houtven. Family involvement significantly lowers the likelihood of urinary tract infections, respiratory infections, and bedsores, suggesting that the lower utilization is due to better health outcomes.

26 May 2016

Low-quality Patents

Investigating data on patents issued in many countries, Gaétan de Rassenfosse, Adam B. Jaffe, and Elizabeth Webster find that between two and six percent of patents are inconsistent with the issuing office's standards. Japan has the tightest standard and the United States and China the loosest. Inconsistencies tend to be higher in newer fields such as software and biotechnology, and lower in traditional fields such as mechanical engineering.

25 May 2016

Large Institutional Investors and Stock Price Volatility

Substantial ownership by large institutional investors tends to increase the volatility of a company's stock, according to Itzhak Ben-David, Francesco Franzoni, Rabih Moussawi, and John Sedunov. Large investors' trades are larger, are concentrated on fewer stocks, and generate comparatively higher price impact than those of smaller investors.
More Research

This Week's Working Papers

New in the NBER Digest

Comparing Urbanization in Rich and Poor Nations

Do insights about the economics of cities that have been developed largely from studies in the United States and Europe apply with equal force in the developing world? The question is explored in the May edition of The NBER Digest. This issue of The Digest also features research into the effects on innovation levels when universities take a larger share of professors' profits, the benefits for high-achieving minority students of being placed in classrooms for the gifted, the long-term effects of disruptive students in elementary school classrooms, the impact of childhood poverty on gender gaps in adult employment, and the influence of disability payments on earnings.

Download the PDF
or Read online

New in the NBER Reporter

The International Monetary System, Then and Now

Some in the international community, most notably France in the 1960s, complained loudly that the Bretton Woods regime afforded the United States "exorbitant privilege." The discarding of that system in the early 1970s should have put an end to that. But Pierre-Olivier Gourinchas writes in the latest issue of the quarterly NBER Reporter that recent research shows the international monetary system retains many structural features of the Bretton Woods regime.

Disability Insurance Programs and Retirement

Vol. 6 in Series on Social Security Around World

Disability insurance programs can play a significant role in the departure of older workers; in some countries, many individuals rely on disability insurance until they are able to enter into full retirement. The sixth stage of an ongoing research project studying the relationship between social security programs and labor force participation, this volume draws on the work of an eminent group of international economists to consider the extent to which differences in labor force participation across countries are determined by the provisions of disability insurance programs. Edited by David A. Wise; published by The University of Chicago Press.

Details and ordering information

NBER Videos

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email:

Contact Us