NodeJS gives Cannot find module './parser' error while running Handlebars

I have written a Handlebars template and got it working successfully in the Browser. As a next step, I want to use the Handlebars precompiler, which is a NodeJS module. I downloaded Handlebars for NodeJS and all dependencies, locally (no -g). But I can't seem to get past this step:

c:\node_modules> node
> require("handlebars");
Error: Cannot find module './parser'
    ...
    at Object.<anonymous> (C:\node_modules\handlebars\lib\handlebars\compiler\base.js:1:80)
    ...

I opened base.js, and line 1 looks like:

var handlebars = require("./parser");

But there is no parser.js in the folder containing base.js (see folder at github), or any parent folder. The NPM page for Handlebars does not mention any dependency on parser.js that I could find. I don't know if I missed an obvious step, or if I'm supposed to generate this file. Any help or ideas?