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This PDF Is a Selection from an Out-Of-Print Volume from the National Bureau of Economic Research This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: The New Realities of the Business Cyde Volume Author/Editor: NBER Volume Publisher: NBER Volume URL: http://www.nber.org/books/unkn73-3 Publication Date: 1973 Chapter Title: Organization and Finances Chapter Author: Various Chapter URL: http://www.nber.org/chapters/c4183 Chapter pages in book: (p. 136 - 158) V Organization and Finances DIRECTORS AND OFFICERS The Board of Directors held their annual meet- additional contributions. ing on September 13, 1972, and a special meet- Chairman Heller appointed a Special Advi- ing on April 13, 1973, to review and act on sory Committee of Directors to work with the Bureau affairs, including proposals for research, President on proposals to restructure the Na- staff appointments, publications, finances, and tionalBureau's membership and Boardof some decentralization of activities to branch of- Directors and toprovideforadministrative fices. In addition, the Board's Executive Com- changes. mittee met three times during the year to con- In February 1973, Geoffrey H. Moore returned sider current issues and take actions within the to the National Bureau to re-assume his posi- general policies established by the Board. tion as Vice President—Research, after being on At the annual meeting Robert M. Will of the leave while serving as U.S. Commissioner of University of British Columbia became a Direc- Labor Statistics. tor of the National Bureau by appointment of Joan R. Tron, Director of Publications, re- the Canadian Economics Association, succeed- signed in March 1973 to become Senior Editor ing Douglas G. Hartle. The incumbent officers for Resources for the Future. In April, Wilbur F. of the Bureau were re-elected for the ensuing Mangas, who had been an editor with the Mac- year. millan Company and earlier with Prentice-Hall, During the year, nine special reading com- became Chief Editor at the National Bureau. mittees of the Board of Directors reviewed man- Victor A. Fuchs was on leave for the 1972— uscripts and considered their suitability for Na- 1973 academic year, serving as a fellow at the tional Bureau publication. Center for Advanced Study in the Behavioral The Finance Committee of the Board, which Sciences, Stanford, California. During his ab- supervises investment of the National Bureau's sence, his administrative functions at the Na- sustaining funds, met seven times during the tional Bureau were assumed by Assistant Vice fiscal year. President Robert T. Michael. With a view to increasing the National Bu- At the April meeting of the Board of Directors, reau's general program support from annual Sherman J. Maisel was appointed a member of contributing subscriptions of business firms, a the Senior Research Staff and will assist in es- new Development Committee of the Board was tablishing the National Bureau's West Coast established. For 1973 Robert V. Roosa was ap- officeinPalo Alto,California. Subsequently, pointed chairman of that committee and J. Wil- Maisel will serve with Victor R. Fuchs as Go- son Newman, vice chairman, to serve with mem- director of that office. bers of the Board and other leaders of the business and financial communities in enlisting Douglas H. Eldridge 136 FINANCES AND SOURCES OF SUPPORT National Bureau income and expenditures dur- and statistical materials. ing the fiscal year ended June 30, 1973, were Nearly three-fourths of fiscal 1973 income approximately $4,000,000.' The program of re- was obtained from restricted funds grants or search, conferences, publications, and related contracts. The largest single project or activity activities was supported principally by income was the operation of the Computer Research received from government agencies,philan- Center for Economics and Management Sci- thropic foundations, trade associations, busi- ence. Expenditures of about $1,200,000 for the ness firms, labor organizations, and individuals, operation of this Center were financed by in- Current is of two general types. Re- come received under a grant from the National stricted income is derived from grants or con- Science Foundation. tractsfor the supportofspecificresearch Listed below are other sources of restricted projects. Unrestricted income is available for income for the support of particular studies or general program support and allocable by the projects: Bureau to individual projects. American Association of Advertising Agen- Studies for which restricted grants provide cies—market structure and advertising. the major portion of support usually require ad- American Life Insurance Association—effects ditional financing from general funds. Many re- of inflation on financial markets. stricted grants require a sharing of project costs. Ford Foundation—economics of population, Grants for specific studies normally do not cover effects of United States direct overseas invest- the full costs of initiating and developing re- ment on recipient countries, economic conse- search proposals, and most do not provide for quences and development potential of disarma- costs of publication and dissemination of re- ment, economics of the performing arts. sults. Those projects approved by the Board Hoover Institution—businesscycles,eco- of Directors for which restricted grants are not nomic indicators, behavior of prices and wages. available rely for support entirely on unrestricted International Business Machines Corporation income or general funds. —inter-university conferences and workshops In fiscal 1973, unrestricted income was about on the computer in economic and social re- $1,100,000, or 27 per cent of total income. Of search. this amount, general program support grants IBM World Trade Corporation—role of the from the Ford Foundation, the Richard King computer in Latin American research. Mellon Charitable Trusts, and the Scherman Population Council—conference on econom- Foundation provided 6 per cent of total income. ics of population. The annual contributions and subscriptions of RockefellerFoundation — researchfellow- business firms, banks, labor organizations,li- ships for scholars from developing countries. braries, and individuals provided 10 per cent. SchermanFoundation — money,financial Interest and dividends from the investment of flows, and credit in the Soviet Union. sustaining funds were 9 per cent of total income. Alex C. Walker Educational and Charitable Other unrestricted income, about 2 per cent of Foundation—studies ofproductivity, employ- total income, resulted from sales of publications ment, and price levels. 1 When this Annual Report was prepared, the audit of accounts for fiscal year 1973 was not completed and final United States Government: figures from certified financial statements were not avail- able. Following conclusion of the audit by Hurdman and Agency for International Development—ex- Cranstoun, Penney & Co., statements of revenues and ex- change control,liberalization, and economic penditures, assets, liabilities, and funds will be published development. in a forthcoming issue of the periodical National Bureau Report, which is sent to all of those on the mailing list Department of the Army, Corps of Engineers for the Annual Report. Copies of detailed financial state- —industrial water consumption. ments with report of certified public accountants will be available from the National Bureau on request. Department of Commerce (1) Bureau of Eco- 137 nornic Analysis—evaluation of cyclical indica- ductivity;(3)aggregate production functions tors; (2) Economic Development Administration and wages; (4) behavior of industrial prices; —public finance; tax, expenditure, and transfer (5) role of prices in international trade; (6) re- substitutions. turns to firm investment outlays; (7) measure- Council of Economic Advisers—railroad pro- ment of economic and socialperformance; ductivity. (8) law and economics; (9) conference pro- Office of Economic Opportunity—education, grams labor market behavior, earnings functions, and poverty problems. In mid-fiscal 1973, the National Bureau es- Department of Health, Education, and Wel- tablished a Center for Economic Analysis of fare (1) National Institute of Education (Office Human Behavior and Social Institutions. This of Education)—economic and social impact of Center administratively comprises and coordi- quantity and quality of education; and education nates the several programs of study in the areas and nonmarket behavior; (2) Public Health Ser- of education, health, population, income distri- vice, National Center for Health Services Re- bution, and law. The Robert Wood Johnson search and Development—economics of health; Foundation has awarded a 3-year grant of (3) Public Health Service, National Institute of $210,000 in support of research, training, and ChildHealth and Development—analysis of publicationin the Center's health economics human fertility behavior. program area. The Rockefeller Foundation has Department of Housing and Urban Develop- awarded a 3-year grant of $250,000 in support ment—NBER model to simulate metropolitan of the Center's program of research in the eco- housing market dynamics. nomics of education and the distribution of in- National Science Foundation—(1) determi- come. nants of the distribution of income and earnings; (2) research, education, and agricultural pro- Douglas H. Eldridge N B ER—WEST The National Bureau will soon open a West long-term basis. A close neighbor is the Center Coast office near Stanford University with the for Advanced Study in
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