Chicago Booth in the News
Chicago Booth has driven innovation in business education, scholarship, and leadership since 1898. Our research makes headlines around the world, and our faculty are sought-after experts who provide insights and commentary for leading publications such as the New York Times, the Wall Street Journal, and the Financial Times. We invite you to explore our latest media coverage and Chicago Booth news.
In the News 2023
In the Market: Amid the calm, the Fed brews the next storm
May 30, 2023 | Reuters
"If they do raise short-term policy rates, clearly, at some point, something more breaks,” says Booth’s Raghuram Rajan of the Fed's attempt to guide the economy to a so-called “soft landing.”
Tough U.S. financial conditions could torpedo Wall Street dealmaking, new research shows
May 28, 2023 | Forbes
A research by Booth’s Raghuram Rajan and coauthors finds that a 1 percentage point rise in the U.S. Financial Conditions index leads to a decrease in value of approximately 10 percent for M&A deals.
Prepare for pain: Britain is hurtling towards a new crisis
May 28, 2023 | The Telegraph
“...the combination of low real wage growth in recent years and greater unionisation in the UK makes workers understandably more frustrated with inflation than in the United States and more willing to press their demands,” says Booth’s Raghuram Rajan.
Not buying central banks’ favourite excuse
May 26, 2023 | Project Syndicate
“Everyone has become so inured to massive central-bank interventions in markets that no one realizes just how unusual the latest banking crisis and response has been,” writes Booth’s Raghuram Rajan in a recent ope-ed.
‘The mother of all crises.’ A US debt default would ricochet around the world
May 26, 2023 | CNN Business
“The argument in favor of [the dollar] is there’s really no other place to go… It’s not clear exactly where people run to,” says Randall Kroszner of Chicago Booth.
Regional bank crisis may be far from over, experts warn
May 25, 2023 | MarketWatch
According to an analysis published by Chicago Booth’s Luigi Zingales and coauthors, banks with well-functioning mobile applications experienced greater deposit flight when the Federal Reserve began raising interest rates than banks without these digital tools.
Student loans prove you can’t have it both ways
May 22, 2023 | The Washington Post
People who didn’t have to make payments had more disposable income and fewer delinquencies on student loan debt, according to findings by Constantine Yannelis and coauthors.
Even flirting with U.S. default takes economic toll
May 20, 2023 | The New York Times
“In the current situation, where there’s a lot of fragility in the banking system, you’re taking more of a risk,” explains Booth’s Randall Kroszner. “You’re piling up fragility on fragility.”
Chicago Booth announces partnership with Chicago Scholars
May 17, 2023 | Weekly Citizen
The new partnership between Chicago Booth and Chicago Scholars will establish a pipeline for students to attend graduate level programs, and create a long-term impact in the Chicagoland area.
Chicago Booth and nonprofit Chicago Scholars join forces in first-ever partnership
May 16, 2023 | Clear Admit
Chicago Booth is partnering with Chicago Scholars to establish a dedicated pipeline for low-income or first generation college-going students into graduate programs.
Entrepreneurs: Start by building, asking, iterating
May 15, 2023 | Crain's Chicago Business
“I always recommend starting with a low-fidelity prototype, something made from cheap materials like cardboard or modeling clay,” writes Elizabeth Koprucki of Booth’s Polsky Center. “This gives you something to share to receive feedback, which is important throughout the process.”
There are risks but also big potential benefits from digital payments
May 15, 2023 | The Economist
A recent paper by Chicago Booth’s Luigi Zingales and coauthors finds that deposit outflows from digital banks were greater than those from traditional banks in the second quarter of 2022.
We should be on the alert for more problems
May 15, 2023 | The Market
Raghuram Rajan of Chicago Booth explains why he thinks the stress in the financial system is an unintended consequence of easy monetary policy, and why a soft landing seems unlikely.
India’s growth path lies in liberal democracy…': Raghuram Rajan
May 14, 2023 | Mint
India’s growth path lies in leveraging its intrinsic strengths and becoming crucial to global supply chains by building on its culture of tolerance and respect for all, according to Booth’s Raghuram Rajan.
The struggle to explain the ‘gender well-being gap’
May 12, 2023 | The New York Times
“I think people view it as more OK for women to say they are depressed than for men to say so,” comments Chicago Booth’s Marianne Bertrand on women’s greater likelihood of reporting depression.
Under the gun to make its own deal, Groupon's options are limited
May 12, 2023 | Crain's Chicago Business
“Your options are a sale, liquidation or bankruptcy reorganization,” says Ira Weiss of Chicago Booth. “My guess is they'll try to find a buyer.”
Tech startups find one of their last funding sources is drying up
May 11, 2023 | Bloomberg
If startup companies do find themselves with less access to credit, the economy may ultimately benefit, indicates Chicago Booth’s Steven Davis.
Chicago Booth and Chicago Scholars partner
May 9, 2023 | NewCity
Chicago Booth has announced a partnership with local nonprofit Chicago Scholars to establish a pipeline for academically ambitious students from low-income or first-generation college-going backgrounds to attend graduate level programs.
No end in sight: Why the regional banking crisis will continue
May 8, 2023 | Commercial Observer
“When declines in stock prices are that significant, they become self-fulfilling prophecies and cause depositor runs and liquidity issues that could put a bank down,” says Chicago Booth’s Terrence Belton. “That’s clearly at work today.”
Male stock analysts with ‘dominant’ faces get more information—and have better forecasts
May 7, 2023 | The Wall Street Journal
“People form impressions after extremely brief exposure to faces—within a hundred milliseconds,” says Chicago Booth’s Alexander Todorov. Under most circumstances, he adds, such quick impressions aren’t accurate and shouldn’t be trusted.
Apple, Samsung phone rebound? Amazon’s grocery wait
May 5, 2023 | Bloomberg Surveillance Podcast
Chicago Booth’s Randall Kroszner says the Fed is not going to quit until the labor market quits.
Douglas Diamond: Nobel prize conversations
May 3, 2023 | Nobel Prize Conversations Podcast
“Even when we were not the most respectable science, we still needed to keep pushing forward,” says Booth’s Douglas Diamond, “because the topic actually matters to the planet, to the humans on the planet, and to the animals on the planet.”
Food, glorious food!
May 3, 2023 | Chicago Reader
“If costs go up and it’s in the news, then a company can say, ‘Sorry, I have no choice but to raise my prices,’ even when their costs are not what’s driving the increase,” explains Booth’s Jean-Pierre Dubé.
UChicago Booth School gets $100 million donation
May 3, 2023 | NewCity
Chicago Booth’s PhD Program gets a new name along with a $100 million gift from entrepreneur, philanthropist, and alumnus Ross Stevens, PhD ’96.
We need to rethink the entire bank funding model, says former Fed Governor Randy Kroszner
May 2, 2023 | CNBC: The Exchange
Randall Kroszner of Chicago Booth discusses the market expectation for the Fed’s next rate move.
University of Chicago Business School gifted $100 million for its 100th anniversary
May 2, 2023 | Best Colleges
“Booth is already in an exceptionally strong position, but the students of tomorrow demand we don't rest on our laurels today,” says entrepreneur and philanthropist Ross Stevens, PhD ’96, who donated $100 million to the school’s PhD Program.
UChicago receives $100 million for Booth PhD Program
May 2, 2023 | Philanthropy News Digest
The University of Chicago has announced a $100 million gift from alumnus Ross Stevens, PhD ’96, in support of the PhD Program at Chicago Booth.
Gifts Roundup: University of Chicago Booth School of Business
May 1, 2023 | The Chronicle of Philanthropy
The $100 million gift from Ross Stevens, PhD ’96, will increase stipends for Booth’s PhD students, more than double research support for data and computing, and provide additional financial support for the top incoming students.
UChicago Booth business school receives $100 million donation for doctoral program
May 1, 2023 | Chicago Sun-Times
Chicago Booth will receive a $100 million donation to its doctoral program from graduate Ross Stevens, PhD ’96, an entrepreneur, and philanthropist.
Whoa: Chicago Booth gets second-largest gift ever: $100M
May 1, 2023 | Poets & Quants
Ross Stevens’ $100 million donation to the PhD Program is the biggest gifts a business school has ever received, and the second-largest ever at Chicago Booth.
University of Chicago’s Raghuram Rajan expects the Fed meeting to be dovish
May 1, 2023 | CNBC: Closing Bell Overtime
Raghuram Rajan of Chicago Booth discusses the banking sector and its impact on the economy and the next moves from the Fed.
UChicago Booth School is getting a $100 million donation
May 1, 2023 | Crain's Chicago Business
Chicago Booth will rename its PhD program after a $100 million donation from entrepreneur, philanthropist, and alumnus Ross Stevens, PhD ’96.
UChicago Booth School is getting a $100 million donation
May 1, 2023 | Insider Higher Ed
Chicago Booth’s PhD program has received a $100 million gift from Ross Stevens, PhD ’96. In recognition, the school’s PhD program will be renamed the Stevens Doctoral Program.
‘Money-printing spree has turned banks into drug addicts’
April 30, 2023 | The Telegraph
More than a decade of low rates and money printing have made commercial banks reliant on the “drug of stimulus” that will lead to more failures as central banks continue to tighten policy, warns Booth’s Raghuram Raja.
Sales, spins and splits — what are the differences and why do they matter for investors like us?
April 30, 2023 | CNBC.com
In normal market conditions, slower-growing entities that “arenʼt as exciting” are prime candidates for a pure-play spin, indicates Booth’s Laura Born.
$100 million gift to the University of Chicago Booth School of Business
April 29, 2023 | Fior Reports
“Thanks to Ross’ extraordinary generosity and bold vision,” remarks Booth’s Dean Madhav Rajan, “the Stevens Doctoral Program is poised to accelerate and expand the impact of its scholars now and long into the future.”
$100 million gift for the University of Chicago Booth School of Business
April 29, 2023 | Forbes
“It is inspiring to think about what the program can achieve in its next 100 years, building on its storied history, now amplified by Ross’s generosity,” says Madhav Rajan, Chicago Booth dean.
2023 Best & Brightest MBA: Saron Strait, University of Chicago (Booth)
April 29, 2023 | Poets & Quants
Full-Time MBA student Saron Straig talks about herself and interests, her community work and leadership roles at Booth, and more.
2023 Best & Brightest MBA: Jeff Yao, University of Chicago (Booth)
April 28, 2023 | Poets & Quants
“Though I intellectually understood coming in that Booth is highly selective,” says Full-Time MBA student Jeff Yao, “it was another thing altogether to experience the challenging debates, hear the impressive stories, and see the brilliant ideas that other students had.”
Getting the sharp end of the investing stick
April 28, 2023 | The Wall Street Journal
Private credit funds aim to achieve a rate of return of about 8 percent if they don’t use leverage or borrowed money, according to a 2021 survey by Chicago Booth’s Steven Kaplan and coauthors.
High-profile startup fraud cases raise eyebrows as VC dollars dry up
April 27, 2023 | American Inno
"When you have a frothy funding environment, it’s probably easier to hide things like you’re not making any money, than in an environment like today," says Booth’s Steven Kaplan.
How Elon Musk upended Twitter and his own reputation in 6 months as CEO
April 27, 2023 | CNN Business
“I give him some credit for trying a different business model,” indicates Luigi Zingales of Chicago Booth. “I think the business model based on user data is quite abusive.”
If there are no new ideas, how do we keep innovating?
April 24, 2023 | The New York Times
“Those responsible for monitoring accounting rules must assess whether auditors failed to properly evaluate what was happening, or whether the rules themselves are effective,” Booth’s João Granja indicates in a recent research brief.
How central banks left the West stuck in ‘a world of second best’
April 22, 2023 | The Telegraph
Chicago Booth’s Michael Weber believes central banks are in the midst of a “potential trust crisis” thanks to a disconnect which began with a failure to recognize the pressures facing families.
What will the end of the pause on student loan payments mean for retailers?
April 21, 2023 | Marketplace
“I think we’re gonna see delinquencies and defaults spike,” says Constantine Yannelis of Chicago Booth. “That’s going to damage credit scores and potentially have very long-term impacts.”
Is remote work depressing inflation? UChicago experts in alternative research explore the future
April 18, 2023 | IT Pro Magazine
Chicago Booth experts share insights and research on remote work and inflation, human apology behavior, and more.
They can’t even: A generation avoids facing its finances
April 17, 2023 | The Wall Street Journal
Young adults with lower-wage jobs may avoid budgeting and checking their bills because it makes them feel helpless, says Abigail Sussman of Chicago Booth.
Interview with Luigi Zingales: Saving capitalism from itself—and for the people
April 17, 2023 | For All
“Recessions are never a great time for capitalism because capitalism does generate inequalities and tension,” indicates Chicago Booth’s Luigi Zingales.
No startup idea? No problem. Would-be entrepreneurs can still build a business.
April 17, 2023 | Crain's Chicago Business
“Now is a good time for the entrepreneurially minded to explore Entrepreneurship Through Acquisition,” writes Alex Hodgkin, a senior advisor for Booth’s Entrepreneurship Through Acquisition program and an entrepreneur-in-residence at the Polsky Center.
Analysis-Central banks have yet to script final act of inflation fight as risks rise
April 16, 2023 | Reuters
The Fed “is not going to quit until the labor market quits,” says Booth’s Randall Kroszner. “I think it is going to be very hard to avoid something moving down and moving down relatively quickly.”
Unemployment is low. Inflation is falling. But what comes next?
April 14, 2023 | The New York Times
“Inflation is coming down, but I’m not sure that the momentum will continue if they don’t do more,” says Booth's Raghuram Rajan of the Fed’s plan to bring down inflation.
Debt pressure with Malpass
April 13, 2023 | Bloomberg Surveillance Podcast
Raghuram Rajan of Chicago Booth says IMF’s longer-term growth “doesn’t look good.”
(Interview starts at 35:50.)
Economic vigilance is ‘absolutely paramount,’ IMF chief says. Why she’s less upbeat than Yellen.
April 13, 2023 | Barron's
The dearth of dialogue between the U.S. and China, and the possibility that national security becomes a front for all sorts of protectionism, would lead to a more volatile world, explains Booth’s Raghuram Rajan.
US women now make as much or more than men in half of marriages
April 13, 2023 | Bloomberg
“The labor market changes have been such that because women are getting more educated than men, they are finally ‘making it’ in greater numbers,” explains Marianne Bertrand of Chicago Booth.
How America should support Taiwan
April 12, 2023 | Project Syndicate
"What Taiwan needs from the US is a bilateral free-trade agreement and support for Taiwan’s membership in regional trade agreements," Booth’s Chang-Tai Hsieh and coauthor write in a recent op-ed.
Outcome Health verdict makes clear the line between fraud and faking it
April 12, 2023 | Crain's Chicago Business
“What I tell my students is: Investors want to hear you say that things are going to grow to the moon,” says Steven Kaplan of Chicago Booth. “You can be very positive, but you can’t lie.”
How shoppers skirted India’s currency swap
April 10, 2023 | Futurity
Savvy consumers shielded more than $1 billion from income taxes as demonetization was implemented, according to research by Chicago Booth’s Pradeep Chintagunta and coauthors.
Private equity vs. venture capital: What’s the difference?
April 7, 2023 | Business
“Venture capital is for businesses in the earlier stage that can really scale,” explains Steven Kaplan of Chicago Booth. “They have some revenue, but they need a lot of money to grow.”
Is the ‘blunt tool’ of monetary policy actually just a dull tool?
April 7, 2023 | Marketplace
“There’s a bunch of businesses that have loans and bonds that were about zero that are going to need to refinance,” says Booth's Anil Kashyap. “And when they do, they’re going to face a much higher cost of capital.”
Surveillance: Banks In 4% Rate World
April 6, 2023 | Bloomberg Surveillance Podcast
Luigi Zingales of Chicago Booth says the banking system can't operate with interest rates at 4 percent.
IMF economist who foresaw 2008 crisis expects more bank troubles
April 6, 2023 | Bloomberg
A decade of easy money and a flood of liquidity from central banks has caused an “addiction” and a fragility within the financial system, indicates Booth’s Raghuram Rajan.
JP Morgan’s Jamie Dimon: Banking crisis not over. He’s right
April 5, 2023 | Forbes
The rate of growth of deposits of digital banks diverges sharply in the second quarter of 2022 from that of non-digital banks, according to research by Booth’s Luigi Zingales and Joao Granja and their coauthor.
Why do U.S. banks keep failing?
April 3, 2023 | CNBC
Terrence Belton of Chicago Booth discusses three main risk factors that can cause a bank to fail and the implications on the U.S. economy.
(Interview segments 1:44; 9:08.)
Health premiums and consumers’ medical costs may be about to soar, even as inflation falls
March 29, 2023 | Los Angeles Times
“Demand for healthcare workers is still running very strong,” indicates Matthew Notowidigdo of Booth. “That’s why I’m expecting to see price increases—in order to hire these workers, you’re having to offer more.”
Is tech the 'front end gateway' to nab college students as customers?
March 29, 2023 | American Banker
“There are a lot of Federal Trade Commission, CFPB, Department of Education and other financial fiduciary principles that need to be given attention,” says Chicago Booth’s David K.A. Mordecai.
How to create a 25 percent productivity hike: Lessons from Shopify’s meetings purge
March 29, 2023 | WorkLife
“Standing meetings that are large—more than a few people—and take place online [raise the likelihood that a meeting will suffer]…from the main diseases of group decision-making: social loafing and conformity pressure,” says Chicago Booth’s Ayelet Fishbach.
Why nepo babies are bad for business (sorry, ‘succession')
March 28, 2023 | NPR Planet Money
Employees working at the top 10 percent of plants were four times more productive than those working in the bottom 10 percent, according to findings by Chicago Booth’s Chad Syverson.
Experts say Apple’s move into buy now, pay later is likely to catch on with customers—and bring out the regulators
March 28, 2023 | Fast Company
While Apple will have plenty of competition in the marketplace, they’re in a good position to succeed, according to Benedict Guttman-Kenney of Chicago Booth.
Why it’s now easier to underestimate your expenses and overspend
March 27, 2023 | The Wall Street Journal
People tend to underestimate their future spending in large part because they base their predictions on typical expenses that come to mind easily, explains Abigail Sussman of Chicago Booth.
The political leanings of people who go on cruises, and more!
March 24, 2023 | The Washington Post
Bigger cities typically have the most desirable hospitals for medical travelers seeking physician services, according to research by Booth’s Jonathan Dingel and coauthors.
It’s been one year since the Fed started raising interest rates to curb inflation
March 23, 2023 | Marketplace
This time around, the Fed wanted to see inflation to believe it, and not cool the economy too quickly after Covid and its supply chain snarls, explains Anil Kashyap of Chicago Booth.
The top-ranked business schools that turbocharge careers
March 22, 2023 | Study International
When it comes to education for the most seasoned of executives, Chicago Booth leads the way. It has done so for over a century, with its suite of executive education programs that fuse intellectual stimulation, great teaching, and cutting-edge research.
Deeply, truly, very sorry: How tech CEOs talk when they lay off workers
March 21, 2023 | The Washington Post
A surprising number of layoff communications address workers using a corporate pet name, a practice that has roots in the ancient tradition of using one’s surname to indicate one’s profession, according to Ayelet Fishbach of Chicago Booth.
University of Chicago Prof. discusses Fed, banking crisis
March 20, 2023 | CNN International Business
“If nothing serious happens between now and Wednesday, I think the Fed will believe that it has done enough to stabilize the banking system,” says Chicago Booth’s Raghuram Rajan.
Investigate the bank failures
March 20, 2023 | City Journal
“A presidential commission can determine where the banks, the auditors, and the Federal Reserve erred,” writes Booth professor Luigi Zingales.
Beware the narcissist posing as a charismatic leader
March 20, 2023 | Crain's Chicago Business
“Both charisma and narcissism are often associated with entrepreneurship,” writes Kim Vender Moffat, an investor in residence at Booth’s Polsky Center. “Research of this association suggests it can both positively and negatively correlate to success.”
Three years after calls for DEI initiatives, have corporate conditions improved?
March 20, 2023 | WGN Morning News
Chicago Booth’s Felicia Joy weighs in on the current corporate efforts to focus more on diversity, equity, and inclusion.
Economists think Fed will keep raising rates despite bank turmoil
March 19, 2023 | Financial Times
The latest survey from Booth’s Initiative on Global Markets, conducted in partnership with the Financial Times, suggests the US central bank still has work to do to stamp out stubbornly high inflation.
Silicon Valley Bank collapse concerns founders of color
March 19, 2023 | Associated Press
Booth professor and entrepreneur Amy Hilliard knows how difficult it is to secure financing. It took three years to secure a loan for her cake manufacturing company, and she had to sell her home to get it started.
Banking crisis hangs over economy, rekindling recession fear
March 17, 2023 | The New York Times
“If we’re not on top of that, then what about some of these other, more shadowy parts of the financial system?” says Chicago Booth’s Anil Kashyap of the problems that went undetected at SVB and other banks.
Quantitative easing left the banking system vulnerable
March 17, 2023 | Barron's
“The U.S. Federal Reserve’s quantitative-easing program left the banking system vulnerable,” write Chicago Booth’s Raghuram G. Rajan and coauthor in a recent opinion piece.
Will ordinary Americans end up footing the bill for bank failures?
March 17, 2023 | Associated Press
Chicago Booth’s Anil Kashyap and Raghuram G. Rajan weigh in on the government’s response to the failure of two large banks and the implications on ordinary Americans.
Fed’s best option is to hike rates by 25 basis points and watch for a month and a half: Professor
March 16, 2023 | CNBC: Street Signs Asia
Booth professor Raghuram G Rajan says “doing zero would convey inappropriate signals at this point.”
Life is so expensive, people are nostalgic for 2021
March 15, 2023 | The Wall Street Journal
On average, people remember prices as being lower than they really were, according to forthcoming research from Booth’s Michael Weber and coauthor.
“Credit Suisse is a bank in search of a business,” expert says
March 15, 2023 | Yahoo! Finance
“The turmoil in Europe—and to some extent amongst the big banks in the U.S.—is how much exposure do you have to Credit Suisse if it melts down over the next few days,” explains Booth’s Raghuram G. Rajan.
The economist who won the Nobel for his work on bank runs breaks down SVB’s collapse—and his fears over what’s next
March 15, 2023 | Fortune
“Their investments were pretty long-term, and they were generating very low yields,” says Booth’s Diamond W. Diamond of SVB. “They must have figured that scenario would work fine if every depositor stayed forever.”
Silicon Valley’s startup scene is safe. At least for now.
March 15, 2023 | Yahoo! Finance
“Venture capital funds raised record commitments last year, so there's a ton of dry powder,” explains Steven Kaplan of Chicago Booth.
The Close
March 14, 2023 | Bloomberg Markets
Chicago Booth’s 2022 Nobel laureate Douglas W. Diamond discusses the distinctions between the collapse of SVB and Signature Bank and what happened in 2008.
(Interview starts at 1:56.)
What to know about the Silicon Valley Bank collapse, takeover and fallout
March 14, 2023 | NPR
“The problem was they weren't worth 100 cents on the dollar, because they were long-term interest rates,” said Chicago Booth’s Douglas Diamond of government bonds held by SVB. “Interest rates went up. They had to sell them at a discount.”
The collapse of Silicon Valley Bank: A one-off calamity, or sign of more trouble for California?
March 13, 2023 | Calmatters
Typically, federal regulators will try to find another private bank to take over the failed one, explains Booth’s Joao Granja. The fact that no buyer was immediately forthcoming reflects both “how suddenly and quickly the situation unfolded.”
Silicon Valley Bank: What experts think of US regulators response to the fallout
March 13, 2023 | CNBC Techcheck
Raghuram G. Rajan of Chicago Booth discusses the Fed’s response to the SVB fallout, bank market risk, and the contagion effect from SVB.
Two bank failures have the federal government taking extraordinary action
March 13, 2023 | NPR Morning Edition
Booth’s 2022 Nobel Prize winner Douglas W. Diamond discusses the recent bank collapses and what they say about the stability of America’s banking system.
U.S. says all deposits at failed bank will be available Monday
March 12, 2023 | The Washington Post
The collapse of Silicon Valley Bank could trigger economic problems for companies that kept large uninsured sums on deposit, explains Chicago Booth’s Anil Kashyap.
Expert thoughts on Costco credit card
March 10, 2023 | WalletHub
“keep an eye out for cards that will reward you with bigger payouts if you are patient,” suggests Booth’s professor of behavioral science Thomas Talhelm.
Hard landing or harder one? The Fed may need to choose
March 10, 2023 | Financial Times
“Beliefs in an immaculate disinflation with only mild job losses could soon be put to the test,” writes Booth’s Raghuram G. Rajan in a recent op-ed.
US payrolls top estimates
March 10, 2023 | Bloomberg Surveillance Podcast
Randall Kroszner of Chicago Booth discusses the US February payrolls report and says the labor market is still pretty hot.
How one guy’s car blog became a $1 billion marketplace
March 9, 2023 | The Wall Street Journal
Booth's Dennis H. Chookaszian says there were two driving forces behind the company’s growth. The first is that the site built a “community of interest,” and the second is that it upended the basic economics of the business.
The cost of food is down, but grocery bills are still up. Here’s why
March 8, 2023 | CNN.com
Companies view costs changes as occasional opportunities they don’t want to miss, and it’s not unusual for them to use the moment to raise prices, explains Chicago Booth’s Jean-Pierre Dubé.
What Does International Women’s Day Mean To You? And When Do We No Longer Need It?
March 8, 2023 | Forbes
Donna Swinford, Associate Dean for Student Recruitment and Admissions for MBA Programs at Chicago Booth, is optimistic, but realistic when it comes to women's increasing participation in business and finance.
Lubos Pastor: ‘Judging fund managers by the company they keep’
March 7, 2023 | Morningstar: The Long View (podcast)
Booth’s professor of finance Lubos Pastor talks about his research, academic finance, tips for investors and financial advisors, and more.
What China Can Teach Latin America About Good and Bad Graft
March 7, 2023 | Bloomberg
Corruption, while far from ideal, can be consistent with, and even contribute to, fast economic growth, says an opinion piece referencing the work of Booth professor Chang-Tai Hsieh.
Do Interest Rates Really Drive the Economy?
March 7, 2023 | Barron's
A new study from Booth professors Niels Gormsen and Kilian Huber raises new doubts about how much of a role interest rates play in business investment.
U.S. financial system vulnerable to bond market stress, Fed's Logan says
March 3, 2023 | Reuters
At IGM's "Workshop on Market Dysfunction," Dallas Federal Reserve President Lorie Logan sai the US government bond market remains vulnerable to significant shocks.
Dynamic pricing for dinner? Some Chicago restaurants experiment with charging more for prime tables
March 3, 2023 | Chicago Tribune
Booth’s Avner Strulov-Shlain shares his insights into pricing tiers, and the likelihood of businesses adopting this approach for customers in the future.
For central banks, less is more
March 1, 2023 | Finance & Development
More focused, less interventionist central banks would likely deliver better outcomes, suggests Chicago Booth’s Raghuram Rajan.
Roundtable: What challenges should procurement and supply expect in 2023?
February 28, 2023 | Supply Management
“There is no doubt the key challenge for 2023 is how we move forward digitally,” says Chicago Booth’s Nicole DeHoratius. “We need to have more visibility beyond the first tier, and by this we mean asking whether technology is in the right place or not.”
What layoffs? Many employers are eager to hang on to workers.
February 26, 2023 | The New York Times
“When the economy came back very strongly in 2020, then a lot of firms were trying to hire again and they couldn’t,” said Chicago Booth’s Matt Notowidigdo. “That experience might still be sitting with people.”
Fed addressing inflation promptly and forcefully, Jefferson says
February 24, 2023 | Reuters
Federal Reserve governor Philip Jefferson discussed the US central bank’s response to inflation at the 2023 US Monetary Policy Forum, an annual conference organized by Chicago Booth’s Initiative on Global Markets.
Fed likely to keep 25 bps pace of rate hikes: Kroszner
February 22, 2023 | Bloomberg Balance of Power
The Fed should keep its options open when it comes to rate hikes, suggests Randall Kroszner, a professor at Chicago Booth and a former governor of the Federal Reserve.
The science of lying—and why some people get away with whoppers
February 22, 2023 | Newsweek
“Many of our most difficult ethical dilemmas involve balancing honesty with benevolence,” says Emma Levine, associate professor of behavioral science at Chicago Booth.
Biden taking a big regulatory swipe at the small percentage of private equity investment in senior care
February 20, 2023 | Benzinga
A study by Chicago Booth’s Constantine Yannelis and coauthors finds that short-term mortality rates for residents jump by 10 percent after a nursing home’s purchase by a private equity firm.
Fake it till you make it? Four keys to doing it right.
February 20, 2023 | Crain’s Chicago Business
Chicago Booth’s CJ Przybyl, ’11, offers advice for entrepreneurs navigating the early days of their startup.
Opinion: California housing development remains abysmal despite reforms. Here’s what’s missing
February 19, 2023 | Los Angeles Times
Over the past century, almost all industries have become increasingly dominated by a small number of large, productive firms, according to research by Chicago Booth’s Yueran Ma and coauthors. An outlier is construction—Booth’s Austan Goolsbee and Chad Syverson found that construction value added per worker has been declining since the 1960s.
Is the economy headed for recession or a soft landing?
February 17, 2023 | NPR
“There may not be that much difference between a soft landing and a mild recession,” explains Chicago Booth's Raghuram G. Rajan. What we really need to look out for, he says, is the danger of a major recession.
Fed will raise rates to 5.5% and hold, Kroszner says
February 13, 2023 | Bloomberg Markets Americas
Chicago Booth’s Randall Kroszner says the Fed is very concerned about the labor market.
Britcoin needs to prove it can secure adoption and not spy on our consumers, experts warn
February 13, 2023 | City A.M.
Quentin Vandeweyer of Chicago Booth says central banks may deliberately make CBDCs “unattractive” to try to avoid bank runs, but suggests this may not be enough as “the main comparative advantage of a CBDC is its safety.”
States with fracking disclosure rules have higher water quality: study
February 13, 2023 | The Hill
This notion that targeted transparency can be used to influence corporate behavior has been around for a long, long time,” says Christian Leuz, professor of accounting and finance at Chicago Booth.
As demand shifts, some businesses are weighed down with too much inventory
February 8, 2023 | Marketplace
Cash tied up in inventory isn’t being used productively, said Nicole DeHoratius of Chicago Booth. “It is capital that’s not being used to invest in new parts of the business—to introduce a new product, to pay your employees more.”
The story construction tells about America’s economy is disturbing
February 5, 2023 | The New York Times
A study by Booth's Austan Goolsbee and Chad Syverson brings new evidence to bear on the industry’s measured productivity problems, and suggests that measurement error is probably not the sole source of the stagnation.
Meet Chicago Booth’s MBA Class of 2024
February 3, 2023 | Poets & Quants
Meet Chicago Booth's MBA Class of 2024 through in-depth profiles on the extraordinary students, their stories, and their dreams.
How to survive (and thrive!) in the age of too much advice
February 3, 2023 | Men's Health
“A rich person who’s always been rich is probably not the best source of advice on how to manage your budget or your finances,” says Ayelet Fishbach of Chicago Booth.
The AI boom: lessons from history
February 2, 2023 | The Economist
Measured productivity growth may actually decline in the years or decades after a new technology appears, according to findings by Booth's Chad Syverson and his colleague.
A free-for-all in national industrial policies is the wrong solution
February 1, 2023 | Politico
To address the energy crisis and digitalization, European governments “need to work to complete the single market for capital, digital and financial services, provide common EU funding for EU firms, sharpen competitiveness, and invest in a thriving university system,” according to an op-ed by Chicago Booth visiting professor Luis Garicano.
The great fraud reckoning
January 31, 2023 | Business Insider
In any given year, 10 percent of corporations committed securities fraud and 41 percent of companies “misrepresent” their financial reports, according to findings by Chicago Booth’s Luigi Zingales and coauthors.
Why is assessing job satisfaction so hard?
January 30, 2023 | The New York Times
Managers often fear they will undermine motivation if they’re too critical, completely missing the point that employees will be motivated to do better if given helpful feedback, explains Booth's Ayelet Fishbach.
‘White lies’ vs ‘whoppers’ when it comes to beefing up your resume
January 27, 2023 | WGN Morning News
When it comes to making yourself look your best to employers, it’s important to know the difference between accentuating the positive and embellishment, says Chicago Booth's John Paul Rollert.
The Justice Department accuses Google of an advertising monopoly
January 26, 2023 | NPR Morning Edition
Luigi Zingales of Chicago Booth discusses the federal antitrust case targeting Google’s digital advertising business.
Biden finally gets a win against inflation
January 25, 2023 | Politico
In the wake of an economic shock, inflation-adjusted wages might drop at first but then begin to rise as part of a normal recovery, according to findings by Chicago Booth's Guido Lorenzoni and coauthor.
Fight climate change with your investments? These experts show us how
January 24, 2023 | Better
“There is a real need and demand from corporations to make their manufacturing processes, their supply chains, their products and their packaging more sustainable,” says Chicago Booth’s Priya Parrish.
Everyone hates Ticketmaster. Is everyone wrong?
January 23, 2023 | Los Angeles Times
“Ticketmaster is effectively paid to be a punching bag,” says Chicago Booth’s Eric Budish. “Their fees find ways back to the artist or venue. And the artist chooses their ticket prices.”
Working from home means saving 55 minutes a day on average, research finds
January 23, 2023 | Washington Examiner
More than a tenth of American workers say they will keep social distancing even after the coronavirus pandemic ends, placing a permanent drag on the workforce, according to research by Booth's Steven J. Davis and coauthor.
Outcome Health founders head to trial in Chicago over alleged $1 billion fraud scheme
January 23, 2023 | Chicago Tribune
“It creates jobs, it makes people realize you can build big, interesting companies in Chicago,” said Chicago Booth's Ira S. Weiss of when companies like Outcome succeed in Chicago.
Tech layoffs shock young workers. The older people? Not so much.
January 20, 2023 | The New York Times
Early personal experiences strongly determine a person’s appetite for financial risk, according to research findings by Chicago Booth's Stefan Nagel and coauthor.
Top Fed officials make case for high rates to cool inflation
January 19, 2023 | Bloomberg
At a recent event co-sponsored by the Chicago Booth Government and Policy Club and UChicago’s Institute of Politics, Federal Reserve vice chair Lael Brainard said high interest rates were needed to keep pressuring inflation that’s showing signs of slowing but is still too rapid.
Fed governor Lael Brainard sees high rates ahead even with progress on inflation
January 19, 2023 | CNBC
Federal Reserve vice chair Lael Brainard discussed inflation, markets, and the state of the economy at a recent event co-sponsored by the Chicago Booth Government and Policy Club and UChicago’s Institute of Politics.
Could Europe end up with a worse inflation problem than America?
January 19, 2023 | The Economist
Monetary policy should tolerate somewhat higher inflation if doing so allows workers to find a new job during periods of economic change, argues Chicago Booth's Veronica Guerrieri.
Three risks, opportunities, and silver linings economists see for the economy in 2023
January 18, 2023 | Quartz
“Certainly central banks are looking for some labor market slack to give them confidence they can pause. The problem is, every time there’s a hint they can pause, financial markets take off,” says Booth's Raghuram G. Rajan.
Will crypto continue to be a speculative asset?
January 18, 2023 | CNBC
Raghuram G. Rajan of Chicago Booth discusses crypto and whether it will continue to be a speculative asset after the market crash in 2022.
Outcome Health founders' looming trial a reminder of Chicago's lagging startup sector
January 18, 2023 | Crain's Chicago Business
“Nobody wants to relive this, but we’ll have to relive it while the case is going on,” says Chicago Booth's Ira S. Weiss of the Outcome Health founders' trial.
Tapping into entrepreneurship's 'hidden curriculum'
January 17, 2023 | Crain's Chicago Business
In many cases, the hidden curriculum—in other words, the cultural norms of entrepreneurship— are both imperfect and always changing, write Erika Mercer of Booth's Polsky Center and Abigail Ingram of the Polsky Exchange.
The flaw in New Year's resolutions
January 15, 2022 | The Week
Humans need short-term successes to feel sufficiently rewarded to keep going and achieve long-term habit shifts, according to Ayelet Fishbach of Chicago Booth.
Here's why Friday the 13th scares us
January 12, 2023 | National Geographic
“We find that people who jinx themselves don’t think the bad outcome is especially likely if they knock down on wood,” explains Jane Risen of Chicago Booth. “So, the ritual does seem to help manage their concern.”
New economic 'regime' challenges central bankers to keep pace
January 12, 2023 | Reuters
“Policy has to be made in real time,” says Booth’s Randall Kroszner. “It is extremely important to have a sense of humility and realize the models you may be using, the data you are relying on, may not be appropriate going forward.”
Shopify is canceling meetings, but does that make staff any happier or more productive? Experts are divided on the new policy
January 10, 2023 | Fortune
“Meetings that require passive participation don’t offer social interactions and don’t increase engagement. They might even decrease engagement if people feel their day is wasted on meetings,” says Ayelet Fishbach of Chicago Booth.
Top Chicago economists expect interest rates to peak around 5.5%
January 10, 2023 | Bloomberg
The Federal Reserve will raise interest rates by another percentage point as it fights high inflation, according to Booth’s Wenxin Du, Randall Kroszner, and Raghuram G. Rajan.
What makes people lapse on life insurance payments?
January 9, 2023 | Policygenius
“People with high health risks should not avoid life insurance,” says Ralph S. J. Koijen of Chicago Booth. “They should be mindful, however, to purchase a policy that they can still afford during economic downturns.”
Central banks can’t win when it comes to credibility on inflation
January 9, 2023 | Financial Times
“Central banks will probably be most effective if they rebuild their commitment to combating high inflation. And if inflation falls too low, perhaps we should learn to live with it,” writes Chicago Booth’s Raghuram G. Rajan in a recent op-ed.
Getting rid of remote work will take more than a downturn
January 7, 2023 | The New York Times
“It’s not that there won’t be some loss of bargaining power by workers,” said Steven J. Davis of Chicago Booth. “It’s just that many employers have their own independent reasons to think that the shift, the partial shift, to remote work is beneficial for them as well.”
Jobs report signals ‘immaculate disinflation': Kroszner
January 6, 2023 | Bloomberg Surveillance
Randall Kroszner of Chicago Booth says the December US employment report is consistent with the view that the US may not have a significant recession.
Why we should anthropomorphize COVID-19 and the flu
January 5, 2023 | Fast Company
Endowing diseases with human qualities makes people more likely to comply with health recommendations, according to findings by Booth’s Ann L. McGill and her colleagues.
What do you want to change about your life in 2023?
January 5, 2023 | MPR News with Angela Davis
Chicago Booth’s Ayelet Fishbach talks about how to make change easier by shifting our mindset, picking realistic and inspiring goals, and using tips from psychology to stay motivated.
The global economic outlook
January 5, 2023 | Bloomberg Balance of Power (Podcast)
Booth's professor of finance Raghuram G. Rajan discusses his global economic outlook.
US may see only mild economic recession, Rajan says
January 5, 2023 | Bloomberg
The US economy may experience a small economic contraction if the financial sector is able to avoid issues as the Federal Reserve raises rates, indicates Booth's Raghuram G. Rajan.
University of Chicago commits millions to startups
January 5, 2023 | Crain's Chicago Business
Over the past quarter-century, Chicago Booth and its Polsky Center for Entrepreneurship and Innovation have become well-known launching pads for startups such as Grubhub. Now it's looking for similar success in launching companies with more of a focus on hard science.
Need motivation for 2023? Here are three ideas from scientists and coaches on how to make it your best work year yet.
January 3, 2023 | Business Insider
Struggling individuals are more motivated to achieve their goals by giving advice rather than receiving it, according to findings by Chicago Booth’s Ayelet Fishbach and coauthors.
Why talking to strangers is good for your mental health
January 3, 2023 | Los Angeles Times
Research by Chicago Booth’s Nicholas Epley and coauthors has shown that people systemically underestimate how much they will enjoy a conversation with a stranger, and how likely it is that the stranger will enjoy the conversation too.
As tech companies make cuts, will other industries follow? Here’s what to know about jobs in 2023.
January 3, 2023 | Chicago Tribune
“As interest rates continue to rise, investors just get particularly worried about risky investments, risky projects and risky stocks,” says Matthew Notowidigdo of Chicago Booth.
Rajan talks world economy in '23
January 2, 2023 | CNN International: Quest Means Business
Chicago Booth’s Raghuram Rajan shares his insights on what 2023 holds for the world economy as the IMF warns of a slowdown.
At present cryptos have little value other than as speculative device: Raghuram Rajan
January 1, 2023 | The Economic Times
“I think we certainly need to understand the technology, we need to proceed cautiously on building out a rupee CBDC,” says Raghuram Rajan of Chicago Booth.
See Past Years In the News
In the News 2022
In 2022, our faculty members shared their expert insights on historically high inflation, fluctuations in the labor market, the ongoing impact of COVID-19, and more.
In the News 2022In the News 2021
In 2021, our faculty members appeared in the media to comment on a wide range of current issues, from the state of the job market to supply chain bottlenecks to the ongoing COVID-19 pandemic.
In the News 2021In the News 2020
In 2020, our faculty members were asked to comment on a wide range of timely issues, from the COVID-19 pandemic to the US election.
In the News 2020In the News 2019
In 2019, Booth faculty weighed in on everything from the science of gift giving to the impact of low interest rates.
In the News 2019In the News 2018
Media mentions of Booth faculty insights in 2018 covered everything from Trump’s tariffs to CEO pay ratios.
In the News 2018In the News 2017
Media mentions of Booth faculty in 2017 covered everything from Richard Thaler’s Nobel Prize to insights about the impact of a new US president.
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