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The Value of Peripatetic Economists: A Sesqui-Difference Evaluation of Bob Gregory

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  • Daniel S. Hamermesh

Abstract

I ask generally whether a country can benefit from the temporary importation of human capital, and specifically whether a program that attracts large groups of academic visitors to a distant country benefits it by generating additional scholarly research on local issues. Using the list of visitors to the ANU Research School's Economics Program, I estimate this impact from responses to a survey in which visitors described their research before and after their visit and designated as a"control person" another economist who had a similar career but had not visited. The matching of the control may be viewed as being along both observable and (to the researcher) unobservable characteristics of the "treated" and control individuals. The results show a highly significant ceteris paribus impact of such visits on the visitor's subsequent research. Valuing this extra research based on the scholarly citations it received and the effects of citations on salaries shows a substantial monetary impact of visiting economists. Less tangible additional impacts in terms of research style also clearly result.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 11453.

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Date of creation: Jul 2005
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Handle: RePEc:nbr:nberwo:11453

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  1. Daniel S. Hamermesh & Sharon M. Oster, 2002. "Tools or Toys? The Impact of High Technology on Scholarly Productivity," Economic Inquiry, Western Economic Association International, vol. 40(4), pages 539-555, October.
  2. Moore, William J & Newman, Robert J & Turnbull, Geoffrey K, 2001. "Reputational Capital and Academic Pay," Economic Inquiry, Western Economic Association International, vol. 39(4), pages 663-71, October.
  3. Glenn Ellison, 2000. "The Slowdown of the Economics Publishing Process," NBER Working Papers 7804, National Bureau of Economic Research, Inc.
  4. Daniel S. Hamermesh & Stephen G. Donald, 2004. "The Effect of College Curriculum on Earnings: Accounting for Non-Ignorable Non-Response Bias," NBER Working Papers 10809, National Bureau of Economic Research, Inc.
  5. Quandt, Richard E, 1976. "Some Quantitative Aspects of the Economics Journal Literature," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 741-55, August.
  6. Bound, John, 1989. "The Health and Earnings of Rejected Disability Insurance Applicants," American Economic Review, American Economic Association, vol. 79(3), pages 482-503, June.
  7. N. Kulendran & Kenneth Wilson, 2000. "Is there a relationship between international trade and international travel?," Applied Economics, Taylor & Francis Journals, vol. 32(8), pages 1001-1009.
  8. Wise, Donald E, 1974. "The Effect of the Bracero on Agricultural Production in California," Economic Inquiry, Western Economic Association International, vol. 12(4), pages 547-58, December.
  9. John T. Dunlop, 1977. "Policy decisions and research in economics and industrial relations," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 30(3), pages 275-282, April.
  10. Ronald G. Ehrenberg & Daniel Hamermesh & George E. Johnson, 1977. "Policy decisions and research in economics and industrial relations. An exchange of views," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 31(1), pages 10, October.
  11. Sauer, Raymond D, 1988. "Estimates of the Returns to Quality and Coauthorship in Economic Academia," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 855-66, August.
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