American Economic Review: Papers & Proceedings 2013, 103(3): 692–700 http://dx.doi.org/10.1257/aer.103.3.692

Minutes of the Meeting of the Executive Committee San Diego, CA January 3, 2013

The second meeting of the 2012 Executive Report on the Annual Meetings Rousseau . Committee was called to order by President Rousseau reviewed the schedule of future( meet)- Christopher Sims at 10:00 a.m. on January 3, ings: Philadelphia, January 3–5, 2014 Friday, 2013 in the Gregory Room of the Manchester Saturday, and Sunday ; Boston, January( 3–5, Grand Hyatt San Diego. Members present 2015 Saturday, Sunday,) and Monday ; San were: Orley Ashenfelter, Alan Auerbach, Francisco,( January 3–5, 2016 Sunday, Monday,) David Autor, Janet Currie, Penny Goldberg, Tuesday ; Chicago, January 6–8,( 2017 Friday, Claudia Goldin, Jonathan Gruber, Robert Hall, Saturday,) and Sunday ; Atlanta, January( Anil Kashyap, John Leahy, Rosa Matzkin, 5–7, 2018 Friday, Saturday,) and Sunday ; Christina Paxson by telephone , Monika Philadelphia,( January 4–6, 2019 Friday,) Piazzesi, Andrew Postlewaite,( Valerie) Ramey, Saturday, and Sunday , and San Diego, January( Nancy Rose by telephone , Peter Rousseau, 3–5, 2020 Friday, Saturday,) and Sunday . Christopher Sims,( and Michael) Woodford. Registration( for the 2013 meetings )in San Also attending were: William Nordhaus, newly Diego was 11,408. The peaks since 1970 elected President-Elect; Raquel Fernandez and were 11,624 in Chicago 2012 , 10,829( in San) Paul Milgrom, newly elected Vice-Presidents; Francisco 2009 , 9,908 in( Denver) 2011 , and and Amy Finkelstein and Jonathan Levin, 9,483 in Atlanta( ) 2010 ; the number( of )hotel newly elected Executive Committee mem- rooms booked on( the )peak night reached an bers. Attending parts of the meeting to give all-time high of 7,439 for San Diego, in contrast reports were: Henry Farber, Chair of the Ad to 7,203 peak night rooms in Chicago, 6,651 in Hoc Committee for Institutional Review Board Denver, and 6,739 in Atlanta. Implementation, Marjorie McElroy, Chair Rousseau reported that he and Convention of the Committee on the Status of Women Manager Marlene Hight are investigating sev- in the Economics Profession, Robert Moffitt eral sites for future meetings, including Boston and Dan Newlon, Chair and Washington 2021 and San Antonio 2022 , and will make Representive of the Committee on Government (recommendations) to the (Executive) Committee Relations, James Poterba, Chair of the Ad Hoc in April 2013 or January 2014. San Antonio Search Committee for Editor of the Journal has the hotel space to hold the meeting, but of Economic Literature by telephone , and the availability of airline seats and nonstop Cecilia Rouse and Gary (Hoover, Chair) and flights in and out of San Antonio within the co-Chair of the Committee on the Status of typically short period of time needed for the Minority Groups in the Economics Profession. meetings is a concern. Rousseau and Hight Assistant Secretary-Treasurer John Siegfried, will also visit Philadelphia February to secure General Counsel Terry Calvani, and staff mem- additional rooms for the 2014 meeting at the bers Mary Kay Akerman, Michelle DeBlasi, block rate. Elizabeth Braunstein, Marlene Hight, Regina To reduce excess demand for the headquar- Montgomery, Steve Stelling, and Jane Voros ters hotel, the Association continued to charge also attended. an extra $25 per night for rooms there. This Sims welcomed the newly elected members generated $114,000 that is treated as registra- of the 2013 Executive Committee and noted tion fees. It did not eliminate excess demand that this was the final meeting for Hall, Paxson, as the headquarters hotel still sold out in two Rose, Gruber, and Ramey. He thanked them for days. Given the positive net surplus from the their service. The minutes of the April 27, 2012 2012 meeting, it may be prudent to lower meeting were then approved as written. the registration fees for the 2014 meetings and 692 VOL. 103 NO. 3 Minutes of the Meeting of the Executive Committee 693 consider a higher premium for rooms in the Morris, Thomas Nechyba, and David Scarfstein headquarters. to three-year terms on the Board of Editors end- Report of the Editor of the American ing in December 2015. Economic Review Goldberg . Goldberg Report of the Editor of the Journal of referred to her written report,( published) in the Economic Perspectives Autor . Autor referred 2013 Supplemental Proceedings. She reported to his report, which is (published) in the 2013 that submissions were stable in 2012 following Supplemental Proceedings. He thanked an 11 percent increase in 2011, when the AER Managing Editor Tim Taylor and Assistant expanded to six regular issues per year. She Editor Ann Norman for their help in publishing noted that the current team of eight ­co-editors the Journal. kept the workload manageable, with most Autor reported that more than 115,000 JEP ­manuscripts receiving a first decision within articles were downloaded in the United States in three months and few manuscripts taking longer the past year and more than 152,000 outside of than six months. The AER published 130 papers the United States. He attributed this to the recent in 2012, a 7 percent increase over 2011. The policy of making all issues of the JEP since its number of weeks from acceptance to publica- inception freely available on the AEA website tion fell to 54 in 2012 from 61 in 2011. Goldberg and to e-mail blasts announcing new issues. He also reported that the new disclosure policy noted that the effectiveness of an experiment requiring authors to provide a statement identi- started in 2012 to increase reader awareness of fying potential financial conflicts at the time of the JEP by sending a postcard mailing of the submission was implemented smoothly on July JEP’s table of contents to Association members 1, 2012. in half of the US states is still under evaluation. A discussion ensued about backlog at the He reported that JEP issues are now available journal and the possibility of adding staff to in PDF, Amazon Kindle, and Barnes & Noble increase the throughput of articles. The possibil- Nook formats. Autor also noted that nearly ity of expanding the AER to a monthly format 20 percent of articles published in 2012 origi- to increase capacity and readability was also nated as unsolicited proposals, and that efforts discussed. Goldberg agreed to consider these have been made to make this fact known to the possibilities and report back to the Executive membership. Committee in April 2013. Acting on Autor’s recommendation, it was Following Goldberg’s recommendation, VOTED to appoint Ulrike Malmendier to a it was VOTED to reappoint Pol Antras to a three-year term as co-editor, and to appoint three-year term on the Board of Editors and Christopher Udry and Adam Looney to three- to appoint Ariel Burstein, Sylvain Chassang, year terms as Associate Editors ending in Timothy Feddersen, Brian Knight, and Philip December 2015. Oreopoulos to initial three-year terms on the Report of the Editor of the American Board of Editors, all ending in December 2015. Economic Journal: Applied Economics Report of the Editor of the Journal of Goldberg for Esther Duflo . Goldberg referred Economic Literature Currie . Currie reviewed to( Duflo’s written report, )which is published in her written report, which( is) published in the the 2013 Supplemental Proceedings. She noted 2013 Supplemental Proceedings. She noted that that the Journal received a record 471 first sub- her term as editor ends on July 1, 2013 and that missions for the year ending October 31, 2012, longer term issues that her successor will face up 23 percent from the previous year, while turn- include evaluating the role of short book reviews around averaged 39 days to first decision with given that Associate Editor James Levinsohn all decisions made within three months. Acting will step down at the end of the year. on Duflo’s recommendation, it was VOTED to Acting on Currie’s recommendation, it was appoint Matthew Gentzkow and Alexandre Mas VOTED to reappoint Serena Ng to an additional to three-year terms on the Board of Editors of one-year term on the Board of Editors end- AEJ: Applied ending in December 2015. ing in December 2013. It was also VOTED to Report of the Editor of the American appoint Tilman Börgers, Steven Durlauf, Raquel Economic Journal: Economic Policy Fernandez, Price Fishback, Ann Harrison, Auerbach . Auerbach referred to his written Kenneth Hendricks, David Lam, Stephen report,( published) in the 2013 Supplemental 694 AEA PAPERS AND PROCEEDINGS MAY 2013

Proceedings. He noted that he would be step- on the Board of Editors of AEJ: Micro ending ping down as editor of the journal at the end in December 2015. of 2013. He reported that the journal received Report on the Econlit and the JEL 375 submissions in 2012, up 27 percent from Classification System Rousseau . Rousseau the previous year, and that adding a second referred to the written report( of Steven) Husted, co-editor specializing in health economics had Manager of Econlit Product Content and been useful in handling the increased through- Design, noting that this was the first year in put. He also noted that although the backlog had which the report on Econlit and the JEL clas- increased, publishing several larger issues had sification system had been decoupled from the helped to keep it in check. He also noted that the report of the JEL editor. He reported that the AEJ: Policy receives relatively fewer submis- JEL classifying group in the Pittsburgh office sions transferred from the AER than the other had identified 12 new JEL categories at their lat- AEJ journals, and that the journal continues est meeting in August 2012. Rousseau reported to receive high quality submissions. Acting on that 190 journals had applied for inclusion in Auerbach’s recommendation, it was VOTED to Econlit, of which 51 had been accepted. He reappoint Robin Boadway to a three-year term announced that efforts were under way to bring on the Board of Editors of AEJ: Policy ending the Index of Economic Articles from 1960–1968 in December 2015. into Econlit, and to include abstracts going back Report of the Editor of the American to 1886. He also noted that raising awareness Economic Journal: Macroeconomics Leahy . of Econlit for Members, available on the AEA Leahy referred to his written report, published( ) website, is a priority for 2013. Revenues from in the 2013 Supplemental Proceedings. He Econlit sales have been stable in 2012 as ven- reported that the AEJ: Macro continues to pub- dors continue to value the database and con- lish high quality papers, maintaining its rating struct front-end products that access it. as the fifth ranked journal in the RePec sys- After some discussion about the decision tem for discounted impact factor based on the rules used to determine which journals are number of citations per paper. He noted that the admitted to Econlit, the President requested that journal saw a 30 percent increase in submis- the Secretary-Treasurer investigate and report sions in 2012 yet still processes two-thirds of on this in April 2013. new submissions in three months or less. Acting Report of the Director of Job Openings for on Leahy’s recommendation, it was VOTED to Economists Siegfried . Siegfried reviewed reappoint Helene Rey to a three-year term on his written (report, published) in the 2013 the Board of Editors of AEJ: Macro ending in Supplemental Proceedings. The number of new December 2015. jobs listed increased 2.7 percent from 2011 to Report of the Editor of the American 2012. Since 2008 the number of academic jobs Economic Journal: Microeconomics Postle­ has increased and the number of nonacademic waite . Postle­waite referred to his (written jobs has decreased. report,) published in the 2013 Supplemental Both job preference signaling and the March Proceedings. He reported that submissions to job scramble completed their seventh years in the journal were up by 20 percent in the past 2012. Signaling allows job candidates to indicate year, and that the time from initial submission a special interest in two job vacancies in early to acceptance was averaging about 40 weeks. December. In 2012, 1,285 job candidates sent a He noted that processing papers often involved total of 2,513 signals of interest to 697 employ- several rounds of correspondence between edi- ers. The scramble helps to match job candidates tors and authors, so that 40 weeks was quite still available in March with positions still open good. He also noted that about 25 percent of at that time. In the March 2012 scramble there the journal’s submissions are transfers from the were 479 job candidates and 79 jobs listed. A AER, and that communication with the AER follow up survey found that at least ten job can- editors has been very effective in encouraging didates secured a job via the scramble. the transfer of high-quality papers. Following The Job Market Committee continues to Postlewaite’s recommendation, it was VOTED increase cooperation with EconJobMarket. to appoint Guillaume Frechette and to re- org EJM to reduce: a the costs of transmit- appoint Ariel Rubinstein to three-year terms ting (letters) of recommendation( ) for new PhDs VOL. 103 NO. 3 Minutes of the Meeting of the Executive Committee 695 in economics to prospective employers and b 2008 World Medical Association’s Declaration the costs to candidates of applying for positions.( ) of Helsinki protocol on Ethical Principles for JOE now includes a small EJM icon on each job Medical Research Involving Human Subjects. listing for employers that use EJM for online The proposed implementation would require applications. authors to indicate whether they had obtained Report of the Ad Hoc Committee on Criteria approval of the appropriate IRB and if not, to for the John Bates Clark Medal Gruber . In explain why e.g., my institution does not have April 2012 Sims charged a committee( )con- an IRB . In cases( where IRB approval had not sisting of Gruber chair , Paxson, Ramey, and been obtained,) the authors would state, if true, Woodford with considering( ) whether the cri- that to the best of their knowledge their research terion for the Clark Medal should be changed design had adhered to the ethical principles of from an age basis best economist under age 40 the Helsinki Declaration. to a professional (experience basis e.g., years) During discussion of the proposal, some since PhD . Gruber reviewed the committee’s( consensus emerged that there is a need for a report, which) concluded using data from past set of ethical standards for the treatment of years that the average age of a PhD recipient human subjects that is tailored to the work of had not changed much since 1960 and that there economists, and that implementing standards was no evidence that those receiving their PhD designed for the biomedical sciences would not at a younger age have been advantaged in Clark represent the best fit for economists. Since there decisions. A discussion of the advantages of is already a policy and implementation in place switching from an age to an experience criterion from April 2012, it was agreed that the President ensued, where arguments for each view were would consider delimiting the task of defining considered. It was VOTED to retain the current guidelines more narrowly to the needs of the age-based criterion for the Clark Medal. economics profession. Report of the Ad Hoc Committee for Report of the Committee on the Status of Institutional Review Board Disclosure Women in the Economics Profession CSWEP Implementation Farber . At its April 2012 McElroy . McElroy reviewed her( written) meeting, the Executive( ) Committee VOTED report( on )selected CSWEP activities and results that for any article involving the collection of from CSWEP’s department survey, to be pub- data on human subjects to be published in an lished in the 2013 Supplemental Proceedings. Association journal, the author s must provide Discussion then turned to providing a stipend to documented Institutional Review( ) Board IRB the organizer of the annual CeMENT workshop. approval for the appropriate use of human( sub)- McElroy described the organizer’s respon- jects. The President charged a committee, along sibilities and how difficult it would be to find with the editors of the Association’s journals, someone to do this important job without some with developing procedures to implement the compensation or course reduction. She also principles, including examples and frequently noted that the CeMENT program has a strong asked questions. record of success in promoting the development Farber chair reported for this committee, of women as faculty members, and that this is consisting (of Erica) Field, John List, Jonathan backed by evidence of more and higher qual- Skinner, and Christopher Udry. The Committee ity publications. It was VOTED to provide a began its work by discussing implementation $15,000 stipend to the organizer of the national with the editors and by reviewing procedures CeMENT workshop and a $12,000 stipend to used by the journals of other professional societ- the organizer of the regional workshop. These ies in the social, behavioral and biomedical sci- workshops are held in alternating years. ences. It concluded that there was no common A discussion followed about the need to turn standard for the ethical treatment of human sub- some applicants down for the CeMENT pro- jects across societies. The committee then rec- gram due to mentoring constraints. It was sug- ommended a set of ethical standards that could gested that the CSWEP chair investigate ways augment the disclosure requirements voted of expanding the workshops to reach a larger upon in April and would apply to all articles number of participants in the future. published in the AEA’s journals. These stan- Report of the Committee on the Status of dards might be linked to the provisions of the Minority Groups in the Economics Profession 696 AEA PAPERS AND PROCEEDINGS MAY 2013

CSMGEP Rouse . Rouse introduced Gary that the Council’s activities were of considerable (Hoover, new) (co-Chair) of CSMGEP, who joined value to economists. He also noted that COPAFS Rouse in making the committee’s report. After had a new executive director who had reached a one-year hiatus, the Summer Program had out to the AEA with a strong commitment to sup- resumed operation in 2012 at the University of port the economics profession, and that the new New Mexico with Robert Valdez as Director. director had requested that annual dues be set at The Program is hosted by the Robert Wood $17,000. After some discussion, it was VOTED Johnson Foundation Center for Health Policy to allocate the requested $17,000 annually for the and the Department of Economics at UNM. AEA’s membership in COPAFS. In order to reduce the Program’s budget, New Moffitt also explained that the US Department­ Mexico reverted to a single rather than intro- of Health and Human Services had proposed a ductory and advanced level (of instruction for complete revision of its regulations for the pro- six weeks. New Mexico) focused recruiting tection of human subjects in July 2011, and that efforts on economics PhD prospects from under- the revision involved bringing many social sci- represented minorities around the United States. ence projects that were once in an “exempt” The current agreement has UNM continuing to category under the standards set in the Health host the Summer Program in 2013 and 2014. Insurance Portability and Accountability Act Report of the Committee on Government HIPAA . This alarmed the social and behav- Relations CGR Moffitt . Moffitt referred (ioral research) community because HIPAA set to his written( report,) ( published) in the 2013 restrictive standards designed to protect medical Supplemental Proceedings. He explained that records. If the HIPAA standards were applied the Committee does not take positions on ques- to social science datasets and surveys, access to tions of economic policy or partisan matters. It them would be far more restrictive than under informs the Association’s leadership and econo- current policies. mists about legislation, regulations, and agency In response to the proposal, the National decisions relevant to their scientific interests, Research Council NRC , with the support of coordinates with other organizations that share the AEA and other( professional) organizations, an interest in social science research, and pro- secured financial support from the NIH and motes the value of economic analysis within NSF for a study to explore how HIPAA-like the policy community, encouraging it to draw standards might be modified for social sci- on the intellectual resources of the economics ence research. After planning for the study had profession. begun, the NIH abruptly withdrew its commit- The Committee was very active in 2012, ment to provide $200,000 for the project. The responding to threats involving discontinuation NRC is determined to continue the study and of the American Community Survey, the impor- is asking several social science organizations, tance of economics in research funded by the including the AEA, to provide $25,000 in seed National Institutes of Health NIH , and dispro- money for a workshop and report on the so- portionate budget cuts at the( National) Science called “Common Rule.” Moffitt indicated that Foundation NSF in core economics programs CGR supports this request. After some discus- in favor of( interdisciplinary) initiatives. The sion, it was VOTED that the AEA contribute the Committee also contributed to encouraging requested $25,000 to the NRC project, the funds better synchronization of data across statistical to be supplied from the CGR’s own budget. agencies, and to providing open access to states’ The 2013 Program Goldin . Goldin noted death records for research. that the 18-member Program( )Committee had Acting on the CGR’s recommendation, been hard at work since April building the Moffitt proposed that the AEA reinstate annual exciting program that was about to convene and membership dues of $14,691 to the Council of thanked them for their service. She explained Professional Associations on Federal Statistics that one goal was to increase participation on COPAFS . This was the dues level prior to a the program, and that two large poster sessions January( 2011) Executive Committee decision along with numerous five- and six-paper ses- to reduce the annual dues payment to $350. He sions organized from individual submissions cited testimonials from CGR members and other had helped to achieve this. Goldin made note of economists involved with COPAFS indicating several special panels that had been organized VOL. 103 NO. 3 Minutes of the Meeting of the Executive Committee 697 on topics including sovereign debt, the role of Andrew Postlewaite for Microeconomics, expire the media in economics reporting, the centen- in December 2013. Gruber noted that all three nials of the Federal Reserve and the Federal editors had agreed to stand for reappointment. Income Tax, and a session in honor of the contri- After reviewing the success of each editor in butions of Clark Medalist Amy Finkelstein. She promoting her or his journal, and acting on the also announced that outstanding lineups were in Committee’s recommendation, it was VOTED place for “Music Night” and “Humor Night.” to reappoint Penny Goldberg to a second three- The 2014 Program Nordhaus . Nordhaus year term as editor of the AER, and to reappoint announced that he was (appointing) a Program Esther Duflo and Andrew Postlewaite to third Committee for the January 2014 meeting in and final three-year terms as editors of the AEJ: Philadelphia and was considering a number Applied and AEJ: Micro, respectively, with all of interesting sessions and panels that would three terms ending in December 2015. reflect interdisciplinary approaches to economic Report of the Ad Hoc Search Committee for a questions. new Editor of the Journal of Economic Literature Registry for Randomized Controlled Trials Kashyap . Sims appointed a search committee Goldberg . At its April 2012 meeting, the in( July 2012) to recommend a replacement for (Executive ) Committee voted to establish an Janet Currie, who steps down as Editor of the experimental registry for randomized con- JEL at the conclusion of her term on June 30, trolled trials. The Association agreed at that 2013. Kashyap, chair of the search committee, time to fund the Registry and its maintenance. described the process the committee members Goldberg noted that she was providing an update used to identify and screen prospects to succeed on progress, that there would be a full report on Currie. Details are available in the Committee the Registry at the April Executive Committee Report published in the 2013 Supplemental meeting, and that Sims had appointed a com- Proceedings. After discussion, it was VOTED to mittee in July 2012 to provide oversight for the appoint Steven N. Durlauf as Editor for a three- Registry and to evaluate its impact. She then year term effective July 1, 2013. reported that development of the Registry was Discussion followed about the possibility of proceeding well, but that the program was in the initiating reviews of AEA journals, especially at process of moving to a new web platform. This times when an editorial change is likely, to pro- had increased the costs of the Registry and led vide editorial search committees with a better to some delay in its launch. She also noted that a idea of issues facing particular journals as they half-time employee would be needed to manage screen and recommend candidates. the Registry once in use. Goldberg also noted Report of the Ad Hoc Search Committee for a that the Sloan Foundation had expressed inter- new Editor of the American Economic Journal: est to Duflo in funding a project of this type, Economic Policy Poterba . Sims appointed and that Duflo asks if she could make a proposal a search committee( in August) 2012 to recom- to Sloan on the AEA’s behalf for funds to sup- mend a replacement for Founding Editor Alan port the everyday costs of managing and main- Auerbach, who steps down at the conclusion taining the Registry. After some discussion, the of his term on December 31, 2013. Poterba, Executive Committee reached a consensus that chair of the search committee, described the Duflo should proceed with such a proposal. process the committee members used to iden- Editor reappointments for the American tify and screen prospects. Details are avail- Economic Review, the AEJ: Applied, and the able in the Committee Report published in the AEJ: Micro Gruber . As chair of the Committee 2013 Supplemental Proceedings. After discus- on Editorial( Appointments,) Gruber noted that sion, it was VOTED to appoint Matthew Shapiro the committee is responsible for recommend- as Editor of AEJ: Policy for a three-year term ing reappointment of incumbent general edi- effective January 1, 2014. tors whose terms are nearing their end. He Report of the Secretary Rousseau . The reported that the initial appointment of Penny Association saw two key retirements( among) its Goldberg as Editor of the American Economic permanent staff in 2012. Violet Sikes served Review, and the second three-year appoint- the Association for 38 years as scheduler of the ments of two American Economic Journal edi- annual ASSA program and as staff member tors, Esther Duflo for Applied Economics and responsible for Job Openings for Economists. 698 AEA PAPERS AND PROCEEDINGS MAY 2013

Siegfried stepped down as Secretary-Treasurer Boston hosted the first evening’s dinner for the of the Association on July 1, 2012 after 16 participants. years in that role. Rousseau read resolutions Registration was 272, including 13 non-US for both that would be presented to the mem- registrants. Fifty-seven of the 272 participants bership at the Annual Business Meeting and are affiliated with economics PhD-granting appear in the minutes published in the May institutions. Many highly selective liberal arts 2013 Papers and Proceedings. Rousseau noted colleges were represented. Attendance at the that Siegfried would continue as a part-time conference to a considerable extent comple- Assistant Secretary-Treasurer and Director of ments rather than substitutes for the economics Job Openings for Economists. In light of his education sessions at AEA’s Annual Meeting in long and dedicated service to the Association, January. Planning for the 2013 teaching confer- it was VOTED to grant Siegfried the status of ence is under way. It will be held May 29–31 Secretary-Treasurer Emeritus. at the Renaissance Chicago Downtown Hotel. The most significant change in the Plenary speakers already committed for 2013 Association’s dues structure for 40 years are Steven Levitt, John List, Derek Neal, and occurred on January 1, 2012, when default Dan Sullivan, and the Federal Reserve Bank of membership status changed from including Chicago will host a dinner the evening of the the three legacy print journals AER, JEL, and first day. JEP to electronic-only access( to all seven of Sharon Levin, Janet Currie, and John Siegfried the )Association’s journals. Regular member- represented the AEA at a workshop sponsored ship dues were reduced to $20, $30, and $40, by the Association for Women in Science’s depending on income. The change in dues project: “Advancing ways of awarding recogni- structure has been accompanied by a small but tion in disciplinary societies AWAR DS ” held noticeable increase in paid memberships, which in Alexandria, VA on May 20–21,( 2012.) The stand at 17,830 at the close of November 2012 in workshop focused on methods that could be contrast to the 16,685 on the same date in 2011. used to counter “implicit bias—stereotyping” as The default electronic-only option was selected well as other factors that may lead to the under- by 55 percent of new and renewing member- recognition of women and minorities for schol- ships in 2012 as of November 30, which saves arly awards and prizes( in scientific) societies. both paper and printing costs. This percentage Though recent data for the AEA do not suggest is expected to grow in coming years. Because that underrecognition of women is currently an many members have two- or three-year mem- issue, it was agreed that the AEA stay informed berships, transition to the new dues structure is of best practices to foster a fair and open pro- progressing gradually. cess of nomination and selection. Speakers at The second AEA National Conference on the workshop emphasized, among other issues, Teaching Economics Undergraduate, Graduate the importance of selection committees hold- Levels and Research( in Economic Education ing face-to-face meetings, solicitation of nomi- all levels) was held at the Royal Sonesta Hotel nations from the general membership, and in( Cambridge,) MA, May 30–June 1, 2012. It members of selection committees disclosing was organized by the Committee on Economic potential conflicts of interest, at least to others Education CEE . Logistical support was pro- on the committee. vided by (the Association’s) convention staff The annual election for officers included an in Nashville. The five plenary speakers were electronic voting option for the second time in Daron Acemoglu, Susan Athey, Peter Diamond, 2012. Electronic voting was open from August Jeff Fuhrer, and Greg Mankiw. There was also 1–10. During that period, 3,933 members voted, a sixth plenary session at which Karl Case, up from 2,980 members last year. All members Greg Mankiw, and Stephen Marglin debated the other than the 3,933 who voted and 599 who appropriate role of Occupy Wall Street concerns asked not to receive a paper ballot were sent a in introductory economics courses. In addition paper ballot on August 12. Of these, 906 paper to plenary sessions, 61 papers were presented at ballots were returned, down from 1,140 in 2011. 17 sessions, 29 people participated in six panel The combination of electronic and paper voting discussions, and there were five “how-to-do- has increased the number of members voting. In it” workshops. The Federal Reserve Bank of the 2010 election, before the electronic voting VOL. 103 NO. 3 Minutes of the Meeting of the Executive Committee 699 option, only 2,831 valid ballots were received. and dynamic menus to ensure compatibility with In contrast, voting increased by 45 percent in newer browsers. A cross-functional staff task 2011 to a total of 4,120, and rose another 17 per- force is also addressing comprehensive revision cent in 2012 to 4,839, which represents nearly of the AEA website. The team is evaluating the 28 percent of the Association’s total member- sites of similar associations and scholarly pub- ship. Electronic voting saved nearly $4,000 in lishers for best practices and improvements. 2012. Objectives are to increase usability and mem- Mailing paper ballots to 13,127 members in ber satisfaction, refresh the look and feel, and the United States and abroad for a 7 percent yield enable new content processes and editorial con- is costly. Though for some members a paper sistency. The team plans to have implementation ballot remains the best way to vote, increased recommendations for the Secretary-Treasurer to access to e-mail and the Internet makes this consider in 2013. the exception rather than the rule. Eventually Rousseau noted that a new marketing special- a change to all-electronic voting will further ist was also hired in 2012 and senior-level staff reduce election costs. were encouraged to participate in exhibits at Following a national search for a new Director conferences and in education seminars, includ- of Publications Services at its Pittsburgh office, ing the ASSA meetings, American Library the Association promoted Jane Voros to the Association, Special Libraries Association, position effective in January 2012. Rousseau International Federation of Library Associations noted that Voros, originally hired as Managing and Institutions, the Frankfurt Book Fair, Editor of the AER in 2004, has quickly stepped Society for Scholarly Publishing, and the into the new role with energy and sound judg- Charleston Book Conference. ment and has overseen many of the improve- The Spring 2013 meeting of the Executive ments identified below. Committee will be held on April 12 at a hotel Registration for the 2013 ASSA meeting was near Chicago’s O’Hare Airport. accomplished with a new application developed Report of the Treasurer Rousseau . Rousseau by AEA staff at the Pittsburgh office. The new reviewed his written report,( which is) published program has many advantages over the previous in the 2013 Papers & Proceedings. Detailed system, including greater flexibility, customiza- financial information is available there, and in tion, and ease of use. The new system also shows the Association’s audited financial results, pub- better performance under heavy use and is more lished annually in the June AER. The projected reliable. It has resulted in a marked decrease in financial results for 2012 show an operating the number of questions and problems reported surplus of $822 thousand. He presented the pro- by registrants. It is currently used for the ASSA posed 2013 budget, which is in Table 1 accom- meeting, the Continuing Education program, panying the Treasurer’s report that is published and the National Conference on Teaching in the Papers & Proceedings. It projects an Economics. operating surplus of $350 thousand. Following An all-in-one mobile event application was a recommendation from the Budget and Finance also introduced for ASSA 2013 to enhance par- Committee, it was VOTED to approve the ticipants’ event experience. Users can customize 2013 budget. their conference by planning daily schedules, The Association’s net unrestricted assets locating meeting rooms on a map, brows- on September 30, 2012 were $23.6 million, ing abstracts, papers, and speaker bios, taking 2.4 times budgeted expenditures including notes, viewing an attendee list hotel directory, ASSA expenditures for 2013. The Association’s( and sharing their experiences via/ social media target ratio of unrestricted) assets to gross expen- programs. The app is easy to use and download- ditures established by the Executive Committee able from most popular app stores and from the is the range 1.5 to 2.5. AEA website. New Business. Sims initiated a discussion Covers and programs for the ASSA Annual based on a query from Susan Athey, a mem- Meetings since 1950 are now available for ber of the committee that awards the National download from the website in PDF format. Medal of Science, involving the lack of nomina- The AEA website template now has a wider tions of economists for the Medal. He noted that format and takes advantage of web typography other social science organizations are able to get 700 AEA PAPERS AND PROCEEDINGS MAY 2013 candidates elected for this award and that this Goldin asked whether there had been peri- could lead to better recognition of econom- odic review of the JEL classification codes, how ics in the scientific community. He also noted they are used among economists, publishers and that having the Association’s imprimatur on a ­others, and whether the AEA should consider nomination could make it more effective. After revising the system. The President requested discussion, the Executive Committee recom- that the Secretary-Treasurer report on the use of mended that the Nominations Committee these codes at the next meeting. begin a discussion of whether a nomination or There being no further business to conduct, it nominations for the National Medal of Science was VOTED to adjourn at 4:53 p.m. could be implemented as part of its regular Respectfully submitted, business. Peter L. Rousseau, Secretary