History

IRES is a research center in economics of the Université Catholique de Louvain (UCLouvain). The center was orginally founded in October 1928, under the name Institut des sciences économiques with a mission to analyze economic data and unravel the essential mechanisms behind them. In 1937, it was renamed the Institut de recherches économiques, and in 1941 became the Institut de recherches économiques et sociales.

It has been located in Louvain-la-Neuve since the mid-1970s.

In its early years, the focus of the center was on the analysis of the business cycle and on the productive structure of the economy. A major shift occurred in 1990, with a marked increase in the international character of IRES, a more active support to academic research, and further developments of the policy aspects of this research.

The Origins of the Institute (1928–1939)

Founded in October 1928 as the Institute of Economic Sciences, the future IRES set out with a clear mission: to combine teaching with applied economic research. In the first bulletin published in November 1929, Professor Paul van Zeeland, who would later become Prime Minister, outlined a bold vision for the institute.

At the time, economics was still an emerging discipline. Researchers focused on observing facts, documenting them, and uncovering the mechanisms behind them. Two major approaches took shape: business cycle analysis, which studied economic periodicity, and structural analysis, which examined Belgium’s economic sectors in depth.

Inspired by the Harvard Committee on Economic Research (1917) and the Harvard Economic Society (1927), IRES quickly positioned itself within a European network, comparing itself to institutes in Berlin, Paris, London, Warsaw, Budapest, and Vienna.

From Individual Inquiry to Team Research (1937)

In 1937, the institute was renamed the Institute for Economic Research (IRE). This marked a shift from individual investigations to collaborative work, with a new goal: interpreting economic facts through a broader lens of social understanding.

On May 17, 1940, Nazi artillery bombed the Leuven library, destroying the entire statistical apparatus. Empirical research came to a sudden halt, marking a tragic interruption in part of the institute’s work.

Post-War Revival and Innovation (1946–1957)

In 1946, the IRE launched the Monthly Conjuncture Service, a short-term economic analysis publication aimed at public and private decision-makers. Distributed through a subscription model, it quickly gained traction thanks to its innovative format, de facto monopoly, and strong alumni network.

The post-war period also saw increased international collaboration. In 1957, L.H. Dupriez joined forces with M. Dumontier (INSEE, Paris) and D. Friedensburg (DIW, Berlin) to found the A.I.E.C.E. – Association of European Economic Conjuncture Institutes. This independent network fostered open debate and methodological exchange, free from political and financial influence.

Institutional Growth and Editorial Expansion (1961–1980)

In 1961, the institute’s bulletin evolved into the Louvain Economic Review, published eight times a year: four issues were devoted to conjuncture, three on theory and economic history, and one annual review of Belgium’s economic challenges. In 2015, Louvain Economic Review underwent a transformation and changed from a generalist journal to a specialist journal under the name Journal of Demographic Economics. 

In 1964, the Centre for Economic Research (CRE) was established, expanding the institute’s research capacity.

Throughout the 1970s and 1980s, IRES became a trusted advisor to policymakers. Its independence and expertise lent credibility to its recommendations on major issues:

• Oil crises (1973 and 1982)
• Inflation (1974–1978)
• Currency crises involving the Belgian franc
• Public deficit
• Industrial restructuring
• Rising unemployment

A New Structure for a Broader Vision (1990)

In 1990, IRES underwent a major reorganization, integrating several components of the economics department:

• ANEC (Economic Analysis)
• CRIDE (Interdisciplinary Law-Economics Research)
• ECOS (Economy and Society)
• Conjuncture Service

This reform aimed to align fundamental research with economic policy analysis. IRES committed to a fourfold approach: fundamental, empirical, applied, and engaged research, fostering collective reflection among its teams.

Since the reform, IRES has structured its research around four key areas, each led by a dedicated team:

• International and industrial economics
• Macroeconomics
• Financial market
• Labor market and social policies

Its mission remains unchanged: to inform public and private economic and social policy through focused research and development. 

IRES 90th Anniversary

In 2018, the Institute for Economic and Social Research (IRES) commemorated its 90th anniversary by organizing a distinguished series of public lectures delivered by internationally renowned scholars. These conferences provided a platform for critical reflection on major economic and societal challenges of our time.

• 14 June – Pierre-André Chiappori (Columbia University): “Famille, capital humain et inégalité”
• 20 September – Axel Börsch-Supan (Technical University of Munich): “Myths, Scientific Evidence and Economic Policy in an Aging World” 
• 18 October – Gianmarco Ottaviano (Bocconi University): “The Consequences of Trade Disintegration: The Case of Brexit” 
• 5 November – Barry Eichengreen (University of California, Berkeley): “The Economics and Politics of Populism”
• 8 November – Mike Elsby (University of Edinburgh): “Male Joblessness in the United States”
• 14 December – George Borjas (Harvard Kennedy School): “The Economics of Immigration: Unraveling the Narrative”

This anniversary series underscored IRES’s enduring commitment to fostering rigorous academic debate and disseminating cutting-edge research to a broader audience.

This text is an adapted version of Paul Olbrechts, La recherche en mouvement, d’une approche historico-institutionnelle  à l’autonomisation : La recherche en sciences économiques à l'IRES 1928-2000, In: La recherche, passions, pratiques, parcours. La communauté scientifique à l'UCL depuis 1834.Catalogue réalisé à l'occasion de l'exposition au Forum des Halles, à Louvain-la-Neuve, du 8 au 21 mars 2001. Edité par Véronique Fillieux et Françoise Hiraux, avec la collaboration de Cécile Derycke et Françoise Mirguet, sous la direction de Paul Servais. Louvain-la-Neuve, Archives de l'Université catholique de Louvain

More info on the history of the centre can be found at the University Archives Service.