Letter from the Director

 
Friends and Visitors,

On behalf of all of those affiliated with the Stanford Institute for Economic Policy Research (SIEPR), I would like to invite you to find out more about our organization. Our goal is to improve economic policy through research, education, and influence.

Over the past 30 years, SIEPR scholars have made remarkable contributions to improve economic policies. They have served at the Council of Economic Advisers, World Bank, Treasury Department, Food and Drug Administration, Justice Department, International Monetary Fund, Medicare Commission, Securities and Exchange Commission, and the Federal Communications Commission. They have offered solutions to improve the tax laws, to sustain and reform Social Security and Medicare, and to implement sensible energy and environmental policies. We are actively participating in the dynamic economies of China, India, Latin America, and Africa. We are involved in the important economic debates of the day, such as health reform, the valuation of the Chinese currency, education reform, and the proper role of the Federal Reserve in controlling inflation and helping bring about full employment.

SIEPR is a dynamic organization that has increased its activities in the past few years. In 2009–10 we have been able to grow and expand with the gift of our new John A. and Cynthia Fry Gunn Building. This gift was made possible by our generous donors: Crawford and Jess Cooley, Dixon and Carol Doll, John and Jill Freidenrich, John A. and Cynthia Fry Gunn, Bob Hellman, Cathie and Pitch Johnson, Ralph and Claire Landau, Don Lucas and the Richard M. Lucas Foundation, George and Karen McCown, Buzz and Barbara McCoy, Burt and Deedee McMurtry, Tony and Linda Meier, Tad and Dianne Taube and the Koret Foundation. We now have more researchers, support a greater number of students, and have more impact in improving economic policies here at home and around the world. The donor support for the new building is recognition that we are accomplishing our core mission.

We introduced our first Economic Summit in 2004 and immediately assembled the best economic talent in the world. Keynote speakers have included Alan Greenspan, Paul Volcker, Martin Feldstein, Ben Bernanke, Jamie Dimon, Henry Paulson, and Larry Summers, and the presenters have included Tom Friedman, Anne Krueger, Steve Levitt, John Lipsky, Anne Mulcalhy, Mario Monti, Bill Perry, Jim Poterba, Eric Schmidt, Peter Orszag, George Shultz, John Snow, John Taylor, Richard Kovacevich, Jean-Claude Trichet, and Janet Yellen. SIEPR’s Economic Summit has quickly become one of the premier economic events in the country and has been oversubscribed each year. We have a conference series, Policy Forums, for Stanford undergraduates on important economic issues. We host two daylong conferences a year, dealing with topics such as U.S. energy policy, the economics of education, poverty and economics, and a host of other topics. Engaging young people in the economic issues that will be confronting them for the rest of their lives is one of our primary objectives.

Our teaching role has also increased over the past few years. We always have trained graduate students in policy research — it is part of our core mission. But, now we are administratively responsible for the Public Policy Program, giving undergraduates and master’s degree students a chance to become policy analysts and to participate in SIEPR’s activities. We feel that the Stanford Public Policy Program is one of the best of its kind in the country.

In addition, SIEPR has a postdoc program that attracts top new economic PhD students and gives them a two-year jump start on their research so they will be more productive and have a competitive advantage in securing the positions of their choice. We are beginning a first sabbatical program that will invite and engage junior faculty from around the globe to come to SIEPR and work on policy issues that affect everyone. Added to the mix are outstanding distinguished visitors. We even are involved with the economics training of high school students in California and run a weeklong workshop for high school teachers of economics every summer. The program is free to the approximately 60 teachers that participate.

With all of these initiatives, SIEPR has signifi cantly improved its established activities. We encourage better economic policies through research and conferences. We support graduate students and young faculty in the fi eld of economic policy research. Our monthly associates meetings feature outstanding speakers. Our outreach through working papers, policy briefs, opinion columns, and the SIEPR website is more vigorous and effective than ever.

I thank all of you who support SIEPR. For those of you new to the organization, I hope you will investigate further by looking through this report. Most of our events are exclusively for our donors as well as policymakers and the academic community. We would like to add you to the SIEPR family so that we can get to know you and you can get to know our students, supporters, and scholars.