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

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Daniel S. Hamermesh

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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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Find related papers by JEL classification:
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

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  1. 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. [Downloadable!] (restricted)
  2. Wise, Donald E, 1974. "The Effect of the Bracero on Agricultural Production in California," Economic Inquiry, Oxford University Press, vol. 12(4), pages 547-58, December.
  3. Glenn Ellison, 2002. "The Slowdown of the Economics Publishing Process," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 947-993, October. [Downloadable!] (restricted)
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  4. 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, ILR School, Cornell University, vol. 31(1), pages 10, October.
  5. 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. [Downloadable!] (restricted)
  6. Jonathan Gruber & Brigitte C. Madrian, 1994. "Health insurance and job mobility: The effects of public policy on job-lock," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 48(1), pages 86-102, October.
  7. John Bound, 1989. "The Health and Earnings of Rejected Disability Insurance Applicants," NBER Working Papers 2816, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Daniel S. Hamermesh & Sharon M. Oster, 2002. "Tools or Toys? The Impact of High Technology on Scholarly Productivity," Economic Inquiry, Oxford University Press, vol. 40(4), pages 539-555, October.
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  9. Moore, William J & Newman, Robert J & Turnbull, Geoffrey K, 2001. "Reputational Capital and Academic Pay," Economic Inquiry, Oxford University Press, vol. 39(4), pages 663-71, October.
  10. Kulendran, N & Wilson, Kenneth, 2000. "Is There a Relationship between International Trade and International Travel?," Applied Economics, Taylor and Francis Journals, vol. 32(8), pages 1001-09, June. [Downloadable!] (restricted)
  11. 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. [Downloadable!] (restricted)
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