The IIES is a research institute at Stockholm University founded in 1962. Its main objective is to produce outstanding research with maximum international impact. Research at the IIES covers a wide variety of areas, such as political economy, macro, climate change and the economy, economic development, mass media, and the labor market. It is guided by the interests of the researchers and not by any central directives. The IIES seeks to foster an excellent research environment by maintaining an active seminar program and being an integral part of the international research community in economics. A large number of researchers from many countries and different parts of the world visit the Institute and give seminars every year.