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

  • Hamermesh, Daniel S.


    (Royal Holloway; University of Texas at Austin)

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 Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 1580.

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Length: 26 pages
Date of creation: May 2005
Date of revision:
Publication status: published in: Economic Record, 2006, 82 (257), 138-149
Handle: RePEc:iza:izadps:dp1580
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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.
  2. 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.
  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.
  4. 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.
  5. 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.
  6. 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.
  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. 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.
  9. 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.
  10. 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.
  11. Jonathan Gruber & Brigitte C. Madrian, 1994. "Health Insurance and Job Mobility: The Effects of Public Policy on Job-Lock," ILR Review, Cornell University, ILR School, vol. 48(1), pages 86-102, October.
  12. 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.
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