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.
2021 Best & Brightest MBAs: Theodore Lim, University of Chicago (Booth)
May 4, 2021 | Poets & Quants
Poets & Quants named current Booth student Theodore Lim to its 2021 list of the Best & Brightest MBAs. Jessica Jaggers, dean of students and associate dean of student life, said, “His efforts to support his fellow students during a prolonged crisis are truly unprecedented and will leave a legacy for years to come.”
Action must replace talk on climate change
May 4, 2021 | Financial Times
Chicago Booth’s Raghuram Rajan has proposed what he calls a “global carbon reduction incentive” to help cut emissions.
Why EPIC is burning its own cash to cook Apple
May 3, 2021 | The Verge
“Epic is in a fortunate position because Fortnite is the most popular game in the world,” Chicago Booth’s Christopher Krohn says of Epic’s lawsuit against Apple.
India crisis reveals complacency and lack of foresight, Rajan says
May 3, 2021 | Bloomberg
India’s relative success against the first wave of infections likely led to it not swiftly preparing enough vaccines for its own population, said Chicago Booth’s Raghuram Rajan.
Breaking down Biden’s plans for the economy
May 2, 2021 | NPR: Weekend Edition Sunday
Chicago Booth’s Austan Goolsbee shares his insight into where President Biden may want to steer the economy.
2021 Best 40-Under-40 Professors: Matt Notowidigdo, University of Chicago (Booth)
May 2, 2021 | Poets & Quants
Matt Notowidigdo of the Chicago Booth School of Business has been named a 2021 Best 40 Under 40 Business School Professor by Poets & Quants.
What an infrastructure bonanza could mean for America’s economy
May 1, 2021 | The Economist
Economic research suggests that, in the right circumstances, basic infrastructure spending has significant, positive effects in the long run. According to Chicago Booth’s Richard Hornbeck, America’s GDP in 1890 would have been around a quarter smaller without the railways.
Vaccine passports are a reality, whatever they’re called
April 30, 2021 | Bloomberg
Richard Thaler, the Nobel-prize winning behavioral economist at Chicago Booth, says vaccine passports should feel like a “perk to those who have been inoculated”—one that would lure the more reluctant to get vaccinated as well.
Biden lays out expansive economic agenda
April 30, 2021 | Bloomberg: Balance of Power
Chicago Booth’s Austan Goolsbee weighs in on President Biden’s spending plans and whether the government can deploy $4 trillion effectively and efficiently. (Segment begins 24:31.)
Next week’s Fortnite trial could upend Apple’s app store model—even if Epic loses
April 30, 2021 | The Verge
“Apple has a lot more at stake here than Epic does, though Apple has the stronger hand,” says Chicago Booth’s Christopher Krohn of the Fortnite trial.
How the U.S. won the economic recovery
April 30, 2021 | Vox
In the summer of 2020, the $600 bonus checks meant that the typical out-of-work American saw 145 percent of their wages replaced, according to estimates by Chicago Booth’s Pascal Noel and Joseph Vavra and UChicago’s Peter Ganong.
Bitcoin: too good to miss or a bubble ready to burst?
April 29, 2021 | Financial Times
“Central banks have always thought that they were key for payments,” Chicago Booth’s Randall Kroszner says of rising crypto markets. “And now they’ve realized they’re not.”
Is Biden’s $1.8T tax and spend plan an attack on investment?
April 28, 2021 | Fox Business: Kudlow
Chicago Booth’s Austan Goolsbee debates economist Steven Moore on the pros and cons of President Biden’s $1.8 trillion spending plan.
BankProv enlists bloggers, influencers to build buzz for new products
April 27, 2021 | American Banker
Affiliate marketing is an economical channel for small banks, which lack the brand awareness and scale of large institutions, said Christopher Krohn, adjunct associate professor of marketing at Chicago Booth.
The big pharma CEO who’s helping to put an end to COVID-19
April 26, 2021 | Newsweek
Chicago Booth’s Eric Budish recently coauthored a paper quantifying the monetary value of COVID-19 vaccines: “The value of 3 billion courses of annual vaccine capacity—enough to vaccinate rich countries by the end of 2021 and the world by the end of 2022—is $17.4 trillion.”
After a year of pandemic eating, supermarkets enlist shoppers in nutrition programs
April 26, 2021 | Civil Eats
“The pandemic has catalyzed in a big way a trend that was happening anyway—the death of traditional retail,” said Chicago Booth’s Jean-Pierre Dubé.
Please stow your outrage about a capital gains tax hike
April 26, 2021 | Bloomberg Opinion
In Chicago Booth Review, a group of economists including Booth’s Eric Zwick argued that the prevailing wisdom among scorekeepers that the revenue-maximizing rate is about 30% may be misplaced.
Why the post-pandemic economy will include higher prices, worse service, longer delays
April 22, 2021 | NBC News
As companies struggle to find workers and meet surging consumer demand, Chicago Booth’s Austan Goolsbee says to expect “worse service in affected industries: wait times at restaurants, retail, housing renovations and the like.”
Small businesses: some boom, some bust, with “enormous variance,” finds report
April 22, 2021 | TechWire
Although venture capital firms initially reported delaying investment early in the pandemic, 91% now expect their investments to outperform the stock market, according to a study coauthored by Steven Kaplan.
People who aren’t comfortable taking financial risks are more likely to hold off on getting a COVID-19 vaccine
April 22, 2021 | MarketWatch
Research from Chicago Booth’s Abigail Sussman suggests that risk-averse individuals respond better to messaging that highlights the social benefits of getting vaccinated.
Work from home to lift productivity by 5% in post-pandemic U.S.
April 22, 2021 | Bloomberg
A study coauthored by Chicago Booth’s Steven J. Davis finds that remote work makes us more productive. The findings suggest the rapid adoption of new technology will offer lasting economic gains.
Alyssa Rapp of Surgical Solutions: “Start small”
April 20, 2021 | Thrive Global
Alyssa Rapp, CEO of Surgical Solutions and adjunct professor at Chicago Booth, talks about empowering more women to become founders through her course “Women as CEOs, Investors, Directors and Executives.”
Looking for investors? Why now is a great time to turn to angels or venture capital.
April 16, 2021 | Crain’s Chicago Business
Chicago Booth’s Ira Weiss suggests startup backers are on the lookout for opportunities and doling out more than ever.
Hospitals are proving more resilient than you’d think
April 14, 2021 | Nasdaq
“The CARES Act kept hospitals afloat at a time when they were struggling, and additional support from Biden’s latest relief plans should provide further help,” says Alyssa Rapp, CEO of Surgical Solutions and adjunct professor at Chicago Booth.
‘It’s time to go big’: Elizabeth Warren makes aggressive push for student-debt cancellation
April 14, 2021 | MarketWatch
Chicago Booth’s Constantine Yannelis argues that tweaking the income-driven repayment program would provide more relief to low-income borrowers than broad-based student debt cancellation.
Art Laffer, Austan Goolsbee debate GOP tax cut, Biden’s tax plan
April 12, 2021 | CNBC: Squawk Box
Austan Goolsbee, a professor at Chicago Booth and former chairman of the Council of Economic Advisors, discusses President Joe Biden’s proposed tax hike under his infrastructure plan.
The Other Reason the Labor Force Is Shrunken: Fear of Covid-19
April 11, 2021 | Wall Street Journal
Research from Austan Goolsbee and Chad Syverson shows that during this pandemic voluntary behavior changes during the spring of 2020 drove the collapse in mobility more so than government-mandated shutdown orders did.
Biden proposes 16% increase in federal spending
April 9, 2021 | Yahoo
Austan Goolsbee discusses President Biden’s $1.5 trillion budget outline and the infrastructure plan with Kristin Myers and Alexis Christoforous.
We’ve had a really tragic pandemic and yet markets are at an all time high: Chicago Booth Professor Raghuram Rajan
April 8, 2021 | Yahoo
Professor Rajan joined the Yahoo Finance Live panel for a discussion about the US economy following the pandemic.
Why accountability matters now more than ever in business
April 8, 2021 | Fortune
“The engine of the economy is humming fine, but the sound of the engine is disconcerting. It’s not that the system doesn’t work, it’s that the system isn’t fair,” said Chicago Booth’s John Paul Rollert. Booth’s Christina Hachikian said, “Gen Y doesn’t see government as particularly effective at solving social problems. They have a greater interest in using business and the market.”
White House sees GOP’s corporate tax-cut defense as a big loser
April 8, 2021 | Bloomberg
Republicans “promised it would pay for itself and that there would be this huge increase in the growth rate and none of that happened,” said Chicago Booth’s Austan Goolsbee of the GOP’s corporate tax cuts.
Don’t you dare speed through Switzerland in a Ferrari Testarossa
April 7, 2021 | Bloomberg
“Charging everyone the same fine is regressive,” writes Chicago Booth’s Jean-Pierre Dubé. “Personalized fines can be low enough for people to pay them but high enough to become deterrents even for more affluent citizens.”
University of Chicago launching nation’s first quantum startup accelerator. Will South Side be the Silicon Valley of next-gen technology?
April 7, 2021 | Chicago Tribune
Duality, the new quantum technology accelerator program at Chicago Booth, has the potential to turn the South Side of Chicago into the Silicon Valley of quantum technology.
It will take time to work out the details for a global minimum tax on companies, Raghuram Rajan says
April 7, 2021 | CNBC: Squawk Box Asia
The key question is figuring out on what basis companies should be taxed, says Raghuram Rajan, a professor of finance at the University of Chicago Booth School of Business.
People actually want mask mandates, Chicago Booth finds
April 7, 2021 | Crain’s Chicago Business
Businesses are underestimating the public’s desire for stricter public health measures, according to a new study from Chicago Booth’s Oleg Urminsky and Abigail Bergman.
Top 10 executive courses in strategy or strategic management
April 6, 2021 | Executive Courses
Chicago Booth’s Executive Education program “Strategic Thinking for Turbulent Times” was named among the best executive courses in strategy.
A riot of U.S. spending spells trouble for future generations
April 4, 2021 | Financial Times
Useful infrastructure investment makes better sense than poorly designed handouts, says Chicago Booth’s Raghuram Rajan.
Opinion: Federal government should take a lesson from states in oil and gas leasing policies
April 3, 2021 | The Denver Post
The pause on new oil and gas leasing is an opportunity to turn these resources into a larger source of federal funds, while better protecting the local environment, says Chicago Booth’s Thomas Covert.
One year after the first wave of pandemic jobs losses, U.S. adds nearly a million jobs in March
April 2, 2021 | Forbes
Compared to the Great Recession, the unemployment rate today has recovered quite rapidly, says Chicago Booth’s Matthew Notowidigdo.
Summer employment numbers could be big, says economist Austan Goolsbee
April 2, 2021 | CNBC: Squawk Box
“The job market is actually better than it was before COVID began, but if you look down at the lower income paying jobs where the job’s got to be done on location, they’re still really suffering,” Chicago Booth’s Austan Goolsbee says of the latest jobs numbers.
Dissecting Biden’s infrastructure plan tax hikes (podcast)
April 2, 2021 | Bloomberg Tax: Talking Tax
Chicago Booth’s Austan Goolsbee discusses the impact of President Biden’s proposed tax hikes on U.S. competitiveness and challenges the administration will face getting the plan through Congress.
Taxpayers don’t know how many jobs PPP loans saved during the pandemic. No one counted
April 1, 2021 | Los Angeles Times
Chicago Booth’s Eric Zwick said Congress could have modified the Paycheck Protection Program in the early months of the pandemic after seeing how much money was going to businesses that weren’t in regions or industries facing economic peril.
Former economic advisers debate Biden’s infrastructure bill
March 31, 2021 | CNBC: Closing Bell
Austan Goolsbee, Chicago Booth professor and former chairman of the Council of Economic Advisers under President Obama, talks about the impact of President Biden’s infrastructure bill on markets and the economy.
U.S. News & World report announces 2022 best graduate schools
March 30, 2021 | U.S. News & World Report
The University of Chicago Booth School of Business was named among the top three best business schools.
With pandemic-weary consumers ready to spend, ‘the roaring 20s and celebratory times ahead may be very real’
March 29, 2021 | Chicago Tribune
In a survey of people who received the first $1,200 stimulus last year, only about 15% of people said they spent most or all of the check, said Chicago Booth’s Michael Weber.
People are ready to spend money on experiences again
March 29, 2021 | Marketplace
“There’s a lot of people who are already at the point that they need an experience so bad, they don’t care about personal safety anymore,” said Chicago Booth’s Jean-Pierre Dubé.
Congress backed a trillion-dollar job-saving program. ‘No one really knows’ if it’s working.
March 26, 2021 | Politico
“The jobs numbers are consistent with the PPP having limited employment effects,” said Chicago Booth professor Eric Zwick, who estimates 3.5 million jobs were saved.
All eyes on digital payments
March 25, 2021 | Project Syndicate
Chicago Booth’s Raghuram Rajan says the switch to digital payments raises public policy concerns that cannot be ignored.
If the economy overheats, how will we know?
March 24, 2021 | The New York Times
If the overheating warnings are correct, inflation should start accelerating, said Chicago Booth’s Austan Goolsbee, who has been sharply critical of the overheating thesis.
Kroszner on the Fed and inflation expectations
March 24, 2021 | CNBC: Squawk on the Street
Randall Kroszner, a former Federal Reserve governor and Chicago Booth deputy dean, discusses inflation expectations and the economy.
Is bitcoin too big to fail?
March 24, 2021 | Newsweek
“It has some features of what economists call a bubble—something that is valuable only because everybody else thinks it’s valuable,” Chicago Booth’s Raghuram Rajan says of bitcoin. “Which means that it has the potential for volatility. As people become less enthusiastic about it, its value could fall considerably.”
A pandemic year, two cafes and an abundance of doubt about the other side
March 24, 2021 | Reuters
In a recent paper, Chicago Booth’s Steven Davis and coauthors estimate that even after the pandemic recedes, about one in five workdays overall will be supplied from home, compared with one in 20 before the pandemic.
‘Kuroda's Bazooka’: What Japan has achieved by keeping interest rates below zero over the past years
March 23, 2021 | BBC World News
Chicago Booth’s Randall Kroszner says that while Japan’s low rate policy hasn’t succeeded in bringing inflation toward its 2% target, it has helped avoid deflation.
Will $1,400 checks stimulate the economy? No, and here’s why not, say three prominent economists
March 22, 2021 | Fortune
Michael Weber estimated that only 40% of early stimulus checks went to consumption, while 30% paid down debt and another 30% went to savings. His Booth colleague Eugene Fama contends that stimulus checks are all about shifting money from savings to consumption, but that what is subtracted from the former erases any boost from the latter.
What is the secret of a successful MBA application?
March 21, 2021 | Financial Times
Donna Swinford, associate dean for student recruitment and admissions at Chicago Booth, says prospective applicants should study schools’ employment reports to understand more about their graduates’ career outcomes.
States reopened, but COVID-19 fears threaten to keep consumers away
March 19, 2021 | The Wall Street Journal
To measure the economic impact of government-imposed lockdowns versus the effect of voluntary distancing, Chicago Booth’s Chad Syverson and Austan Goolsbee used cellphone data to track customer visits to businesses.
Don Thompson grew up near Cabrini-Green and went on to lead McDonald’s. Now the former fast-food CEO wants to bring South and West side businesses to the table.
March 18, 2021 | Chicago Tribune
Waverly Deutsch, professor of entrepreneurship at Chicago Booth, said 70% of venture capital funding goes to white male startups, with Blacks, Hispanics and women underrepresented.
Op-ed: Chatting with strangers, and other things I’ve missed during the pandemic
March 18, 2021 | Chicago Tribune
“We all know how important connection with family and friends are, but we too easily overlook the value that comes from connections with strangers,” said Chicago Booth’s Nicholas Epley.
Bigger is better when it comes to vaccine production
March 17, 2021 | The Wall Street Journal
Chicago Booth’s Eric Budish says governments should invest aggressively in COVID-19 vaccines, even if it means paying a higher price, because the social benefits are enormous.
Have we become more patient during the pandemic?
March 17, 2021 | Marketplace
“When we think that something is almost over, we become extremely impatient,” says Chicago Booth’s Ayelet Fishbach. “The surprising effect is as things become nearer, it is harder to wait for them.”
Rapid Recovery with Hatzius (podcast)
March 17, 2021 | Bloomberg Surveillance
Chicago Booth’s Randall Kroszner says it is still uncertain whether inflation expectations could become unanchored.
Democrats celebrate “transformational” COVID relief bill
March 14, 2021 | CNN: Inside Politics Sunday
Chicago Booth’s Austan Goolsbee discusses why Democrats think the $1.9 trillion bill could mark a historic change in the nation’s social safety net.
Drastic changes in monetary policy framework can upset bond market: Rajan
March 14, 2021 | The Economic Times
India was in a tough economic situation before the pandemic, but COVID-19 has worsened the fiscal condition and the plight of small and medium firms and the poor, suggests Chicago Booth’s Raghuram Rajan.
Joe Biden and the new era of big government
March 12, 2021 | Financial Times
Will some of the provisions in President Joe Biden’s $1.9 trillion stimulus plan become permanent policy? Chicago Booth’s Austan Goolsbee discusses.
A former Obama economic advisor says inflation warnings about the new stimulus bill are ‘absurd’—here’s why
March 12, 2021 | Business Insider
Chicago Booth’s Austan Goolsbee says that hyperinflation is highly unlikely and the stimulus package should be seen as disaster relief money.
The world went on a debt binge last year. There could be a nasty hangover
March 11, 2021 | CNN Business
If U.S. debt payments suddenly go “from being quite low to being quite significant,” that could weigh on the recovery and slow economic activity, said Chicago Booth’s Randall S. Kroszner.
The NFL coach, the Nobel Prize winner and one crazy idea to fix overtime
March 11, 2021 | The Wall Street Journal
“It is very thoughtful and a clear improvement over the current rules,” said Chicago Booth’s Richard Thaler of a new proposal from the Baltimore Ravens to overhaul the structure of overtime games. “It’s good that the league is thinking about it.”
Mick Mulvaney and Austan Goolsbee debate the potential impact of Biden’s COVID bill
March 11, 2021 | CNBC Squawk Box
Chicago Booth’s Austan Goolsbee discusses President Joe Biden’s $1.9 trillion relief bill, expected to be signed into law by the president as early as Friday.
Companies are holding off on firing workers right now
March 11, 2021 | The Wall Street Journal
Chicago Booth’s David Pogrund said employers should give employees plenty of opportunities to explain and remedy issues amid the pandemic.
Why the pandemic left long-term scars on global job market
March 10, 2021 | Associated Press
A study coauthored by Chicago Booth’s Steven Davis concluded that 32% to 42% of COVID-induced layoffs will be permanent.
Economists fear long term effects of ‘she-cession'
March 10, 2021 | NBC Chicago
The latest numbers from the U.S. Bureau of Labor Statistics show there are 2.4 million fewer women in the labor force compared to a year ago. “I think the lack of high quality, affordable childcare, the fact that the government is not subsidizing childcare, providing childcare, is a major factor,” Chicago Booth’s Matt Notowidigdo said.
U.S. gains 379K jobs in February, jobless rate at 6.2%
March 5, 2021 | Yahoo! Finance Live
Chicago Booth’s Austan Goolsbee breaks down the February jobs report and what it means for the U.S. economy.
Biden’s economic recovery imperiled by shrinking labor force
March 5, 2021 | Politico
“That so many people have dropped out of the labor force is an awful sign for where we are,” said Chicago Booth’s Austan Goolsbee. “If a large fraction of those people never come back, that’s going to be a mess.”
Ask the experts: 2021’s credit cards
March 4, 2021 | WalletHub
“Generally, it is a good idea for people to have credit cards, in case they have emergencies and need additional cash,” says Chicago Booth’s Constantine Yannelis. “On the other hand, whether this is a good idea depends on individual self-control and whether they can generally make monthly payments.”
Booth’s Center for Decision Research to partner with Delhi-based Centre for Social and Behavior Change
March 3, 2021 | Poets & Quants
The new partnership between Chicago Booth’s Center for Decision Research and Ashoka University’s Delhi-based Centre for Social and Behaviour Change will enable both institutions to conduct innovative cross-cultural research, test behavioral interventions in the field, and more.
Nobel Winner Eugene Fame on bubbles, why indexing is still king, and GameStop
March 3, 2021 | MarketWatch
“The people who are piling into GameStop didn’t think they were irrational,” said Chicago Booth’s Eugene Fama. “Turns out, at least half of them probably lost everything. In that kind of game, when it goes up and comes back down, there are as many losers as there are winners.”
Do marketers matter for entrepreneurs?
March 2, 2021 | American Marketing Association
A team of researchers that includes Chicago Booth’s Pradeep Chintagunta proposes that marketers can help entrepreneurs in emerging markets grow their businesses.
People literally don’t know when to shut up—or keep talking, science confirms
March 1, 2021 | Scientific American
“How many new insights, novel perspectives or interesting facts of life have we missed because we avoided a longer or deeper conversation that we might have had with another person?” asks Chicago Booth’s Nicholas Epley.
Ask the experts: 2021 Travelers Auto Insurance review
February 26, 2021 | WalletHub
In this Q&A, Booth’s Jean-Pierre Dube shares his insights on why insurance companies spend so much money on commercials and how important traveler’s insurance reviews are to potential customers.
WFH is onstage and here to stay
February 24, 2021 Macroblog: Federal Reserve Bank of Atlanta
Booth's Steven J. Davis and his co-researchers outline their findings of working from home in the post-pandemic economy.
Market design to accelerate COVID-19 vaccine supply
February 24, 2021 | Science
Research from Booth’s Canice Prendergast and Eric Budish, as well as their coauthors, sheds light on why—at this critical point in the global pandemic—governments should contract with vaccine producers to further expand capacity.
At private equity-owned nursing homes, an “enormous” increase in death rates, study finds
February 24, 2021 | CBS
Research from Constantine Yannelis and his co-authors sheds light on the consequences of private equity firms in industries where customers don't directly pay for services, and where there is a high rate of government subsides.
Balance of power: Sen. Sherrod Brown, Fed policy (podcast)
February 23, 2021 | Bloomberg: Balance of Power
Chicago Booth’s Randall Kroszner discusses Federal Reserve chair Jay Powell’s testimony before the Senate banking committee. (Segment runs from 20:25 to 34:30.)
Future government borrowing plans can raise inflation expectations
February 22, 2021 | The Wall Street Journal
Changes in fiscal policy have a complicated effect on how households assess the outlook for inflation, according to a new paper coauthored by Chicago Booth’s Michael Weber.
Private equity ownership is killing people at nursing homes
February 22, 2021 | Vox
Research coauthored by Chicago Booth’s Constantine Yannelis found that going to a private equity-owned nursing home increased mortality for patients by 10 percent against the overall average.
Massive experiment shows why ticket sellers hit you with last-second fees
February 22, 2021 | Phys.org
A field experiment coauthored by Chicago Booth’s Sarah Moshary found that “drip pricing”— additional fees are only disclosed when customers are ready to confirm their purchases—resulted in people spending about 21% more.
‘Hybrid work’ is going to cleave America in yet another way
February 20, 2021 | Business Insider
A study coauthored by Chicago Booth’s Steven Davis suggests remote work will outlast the pandemic, but it will largely be limited to the most privileged in the workforce.
Pritzker’s tax plan: Closing corporate tax loopholes, or ‘the best way to shoot yourself in the foot?’
February 19, 2021 | Chicago Tribune
One of governor J.B. Pritzker’s proposed tax changes would hurt businesses with large losses, but those tend to be bigger companies with more resources that may see the change as a short-term impact worth waiting out, said Chicago Booth’s John Gallemore.
Lower fines could lead to higher revenues
February 19, 2021 | Crain’s Chicago Business
Chicago Booth’s Jean-Pierre Dube says personalized fines would be a win for municipalities like Chicago—and their residents, too.
February 19, 2021 | Crain’s Chicago Business
ESG ratings vary widely, says Caroline Grossman, executive director at Chicago Booth’s Rustandy Center for Social Sector Innovation. “If scores are all over the map, that doesn’t help me as an investor.”
Social responsibility gains curriculum credibility
February 18, 2021 | Crain’s Chicago Business
Caroline Grossman, executive director at Chicago Booth’s Rustandy Center for Social Sector Innovation, discusses stakeholder capitalism and the environmental, social, and corporate governance ecosystem in Chicago.
Job shifts ahead argue for large stimulus
February 17, 2021 | Bloomberg Opinion
A working paper coauthored by Chicago Booth’s Steven Davis concludes that COVID-19 will be “a persistent reallocation shock.”
Former Federal Reserve governor Randall Kroszner talks new federal stimulus
February 16, 2021 | Yahoo! Finance
As the United States faces record unemployment levels brought on by the coronavirus pandemic, the Federal Reserve says it plans to keep interest rates near zero while continuing to expand its balance sheet. Chicago Booth’s Randall Kroszner weighs in.
Should the federal government cancel student loan debt?
February 16, 2021 | WTTW: Chicago Tonight
Constantine Yannelis, an assistant professor of finance at the University of Chicago Booth School of Business, said debt forgiveness benefits higher-income earners, rather than low-income individuals.
Austan Goolsbee on reflation and COVID relief
February 16, 2021 | Bloomberg Markets
Former National Economic Council director and Chicago Booth professor Austan Goolsbee speaks about reflation and the need for stimulus.
Joe Biden’s huge bet: The economic consequences of ‘acting big’
February 15, 2021 | Financial Times
Randall Kroszner, deputy dean of Chicago Booth, says the heavy fiscal stimulus in response to the pandemic is appropriate, but the debt created does have a cost.
Biden and the Fed leave 1970s inflation fears behind
February 15, 2021 | The New York Times
“The onus should be on anybody who says the economy is about to overheat,” said Chicago Booth’s Austan Goolsbee. “There have been many prominent voices saying that—that there was about to be inflation—for more than 10 years.”
What’s the best way to launch your product?
February 12, 2021 | Crain’s Chicago Business
Chicago Booth professor Ram Shivakumar explains the differences between direct sales and channel partnerships.
Lessons from the Great Recession that inform the current economic crisis
February 11, 2021 | CNBC: Squawk Box
Austan Goolsbee, professor at the University of Chicago Booth School of Business and former chairman of the Council of Economic Advisors, discusses the details of President Joe Biden’s coronavirus relief bill.
Dems attempt to push through school funding, wage increase
February 10, 2021 | WTTW: Chicago Tonight
President Joe Biden’s $1.9 trillion COVID-19 relief plan is advancing through Congress. “Chicago Tonight” discusses the plan with Chicago Booth economics professor Austan Goolsbee.
The post-pandemic playbook: building back broader
February 8, 2021 | Project Syndicate
Chicago Booth’s Raghuram G. Rajan cautions against centralized policies, stressing the importance of nurturing local leadership in reviving economically disadvantaged communities.
Global MBA ranking 2021
February 7, 2021 | Financial Times
The University of Chicago Booth School of Business was rated number three in the Financial Times’ annual ranking of the best MBA programs around the world.
Making a good job of remote work
February 7, 2021 | Financial Times
“Remote work gained ground because of the pandemic and has the potential to produce great long-term benefits for employers and workers alike: fewer commutes, cheaper property and a larger pool of talent and jobs,” write Chicago Booth’s Jonathan Dingel and Brent Neiman.
Robinhood’s collateral-crunch explanation puzzles Wall Street
February 6, 2021 | Bloomberg
“Someone’s got to pay,” said Eric Budish, a professor of economics at Chicago Booth. If you’re a brokerage, “you have capital to deal with that existential risk. I was surprised Robinhood didn’t have more capital for that scenario.”
Four experts on why they find the January jobs report disappointing
February 5, 2021 | CNBC: Squawk Box
The United States added 49,000 jobs in January. Nonfarm payrolls were expected to increase by 50,000 in January while the unemployment rate held at 6.7%. Austan Goolsbee, a professor at Chicago Booth and former Chairman of the Council of Economic Advisors, discusses the report.
A third stimulus check may be coming. Here’s how some Chicagoans spent the first two.
February 5, 2021 | Chicago Tribune
Millions of Americans received up to $1,200 each in April as part of a massive $2.2 trillion pandemic relief package, but only 15% of recipients spent most of the money, according to a study co-authored by Chicago Booth’s Michael Weber.
What new Amazon CEO Andy Jassy needs to do to become a leader in sustainability like Apple
February 4, 2021 | MarketWatch
“A lot of the most promising steps toward ESG seem reactionary, as they have been taken only recently, at a moment in which regulatory and public pressure reached sky-high levels that became impossible to ignore,” says Emanuele Colonnelli, an assistant professor of finance at Chicago Booth.
Think GameStop is wild? Meet Dogecoin, the meme-inspired digital currency that began as a joke and is now worth billions.
February 4, 2021 | Chicago Tribune
Eric Budish, a professor at Chicago Booth who studies cryptocurrencies, warned Dogecoins are particularly vulnerable to bubbles because they are not tied to economic fundamentals in the way a stock price (ideally) reflects a company’s earnings.
The need to spend without delay in battling the coronavirus
February 3, 2021 | The New York Times
Going in big with more relief now can prevent suffering and permanent structural damage, suggests Chicago Booth economist Austan Goolsbee.
Sendhil Mullainathan: The chaos inside us
February 2, 2021 | The Knowledge Project Podcast
Chicago Booth’s Sendhil Mullainathan discusses direct versus associative memory, rules versus decisions, positioning over predicting, and more.
Some economists say the Paycheck Protection Program has not saved many jobs
February 2, 2021 | The New York Times
“It’s just a really inefficient use of funds,” said Eric Zwick, an economist at the University of Chicago Booth School of Business who has studied the Paycheck Protection Program.
Why we don’t believe the big city obituary
February 2, 2021 | Bloomberg CityLab
Chicago Booth’s Austan Goolsbee said he foresees a comeback for central cities because we are “much more productive when we are in person together.”
The burger flipper who became a world expert on the minimum wage
February 3, 2021 | Bloomberg Businessweek
By 2015, only 26% of top economists surveyed by Chicago Booth’s Initiative on Global Markets concurred that raising the floor to $15 by 2020 would “substantially” lower employment.
How poverty makes workers less productive
February 2, 2021 | NPR
Sendhil Mullainathan, speaking to NPR's Planet Money, says, "Put simply, being poor is like having just pulled an all-nighter."
$500 billion in aid to small businesses: How much did it help?
February 1, 2021 | New York Times
Booth's Eric Zwick weighs in on the Paycheck Protection Program and whether it has proved as useful as other aid.
Maximum employment? What it means post-pandemic may have changed already
February 1, 2021 | Reuters
Are we in for a prolonged full workforce recovery? Booth's Austan D. Goolsbee shares his perspective.
Top STEM MBA programs in the United States—and how much they cost
January 29, 2021 | Business Because
Chicago Booth announced its Full-Time MBA program had received STEM designation in April 2020. Booth prides itself on offering students a flexible course, with 13 different concentrations for students to choose from.
GameStop head-spinning volatility may be only the beginning of a new wave
January 28, 2021 | CNBC
As trading in GameStop reaches fever-pitched levels, Chicago Booth’s Alex Imas says we may be seeing a major change in the power of social media networks when it comes to influencing tradeable assets.
Put money in the hands of people who need it the most
January 26, 2021 | NDTV
Raghuram Rajan, a professor of finance at Chicago Booth and former RBI governor, says India hopefully has escaped the second wave of the COVID-19 pandemic and that it should spend money on the poor, infrastructure development, and opening schools.
Raghuram G. Rajan says more…
January 26, 2021 | Project Syndicate
Chicago Booth’s Raghuram Rajan discusses the Biden administration’s agenda as it relates to debt sustainability, future inflation, COVID-19 support, and more.
42% of Americans did not make a large purchase last year due to COVID-19
January 25, 2021 | WalletHub
Different people have different preferences on how to pay for large purchases. Chicago Booth’s Roman Weil discusses how much of an impact these preferences actually have on consumers and whether some payment methods are objectively better.
Fed set to look beyond possible post-pandemic inflation shock
January 25, 2021 | Reuters
“People are thirsting for clarity,” said Chicago Booth’s Randall Kroszner of the ongoing debate about how the Fed’s new framework for raising interest rates will be applied. “If the markets respond in the right way it could evolve to what they mean in practice.”
Shutdowns by Democratic governors did not cause the pandemic jobs crisis
January 25, 2021 | The Washington Post
A study by Chicago Booth economists Chad Syverson and Austan Goolsbee found that economic activity returned about 5 percent faster in places that lifted their shutdowns compared with those areas not shut down.
The MBA class of COVID-19
January 23, 2021 | The Economist
Many top American business schools are reporting double-digit growth amid the pandemic. “We enrolled the largest full-time MBA class ever,” noted Madhav Rajan, dean of the University of Chicago Booth School of Business.
India’s poor are eating into their savings, thanks to high inflation and COVID-19
January 22, 2021 | Bloomberg Quint
A study by the Rustandy Center for Social Sector Innovation at Chicago Booth found signs of continued duress for many households in India months after the lockdown was put into place.
Biden’s student loan freeze shows path to erase billions of debt
January 22, 2021 | Bloomberg
Chicago Booth’s Constantine Yannelis said he recently found that debt owed by lower-income borrowers had a lower present value to the federal government than debt owed by high-income borrowers.
Professor Austan Goolsbee on the economics crisis facing President Biden
January 20, 2021 | WGN News
Chicago Booth professor Austan D. Goolsbee discusses the challenges the Biden administration faces on the road to economic stability.
Mr. Biden goes to Washington
January 20, 2021 | BBC: Wake Up to Money
As Joe Biden is sworn in as the 46th president of the United States, Chicago Booth’s Randall Kroszner discusses prioritizing fighting the virus to save lives and speed up economic recovery. (Interview begins 6:35)
Why Biden’s COVID relief plan may need to be more targeted
January 19, 2021 | CNBC: Squawk Box
President-elect Joe Biden’s $1.9 trillion rescue plan is following on campaign promises of higher minimum wage and more aid for those struggling during the pandemic. Chicago Booth’s Austan Goolsbee weighs in.
Meet the economist charged with keeping Biden’s promises to women and people of color
January 19, 2021 | The Washington Post
Cecilia Rouse’s focus on how recessions affect women, or on how the changing labor market has hindered gig workers, are even more relevant as the economy weathers the coronavirus downturn, says Chicago Booth’s Austan Goolsbee.
The Trump years: Tax cuts and trade wars overshadowed in the end by a virus
January 19, 2021 | Reuters
Chicago Booth’s Austan Goolsbee, Raghuram Rajan, and Randall Kroszner comment on the labor market, trade wars, and the stock market during the Trump presidency, both before and after the pandemic.
Professor Austan Goolsbee on President-elect Biden’s proposed plan
January 15, 2021 | The Hugh Hewitt Show
Chicago Booth professor Austan Goolsbee assesses President-elect Joe Biden’s national plan to address the coronavirus pandemic and provide economic relief to the American people.
Social psychology can help set the stage for business success
January 15, 2021 | Crain’s Chicago Business
“While many employees might thrive under certain circumstances, you can’t make others fit into the same box,” said Linda Ginzel, a clinical professor of managerial psychology at Chicago Booth. “You can, however, use the environment you create to help them, and your company, succeed.”
Fed is haunted by example of Japan, Kroszner says
January 14, 2021 | Bloomberg Markets: Asia
Chiacgo Booth’s Randall Kroszner talks about the trade negotiations between the world’s two largest economies, the outlook for U.S. growth, and monetary policy.
Dr. Irwin Redlener, Austan Goolsbee on what Americans need in Biden’s relief plan
January 14, 2021 | MSNBC Live with Katy Tur
Amid spikes in both COVID-19 cases and unemployment in the U.S., Chicago Booth’s Austan Goolsbee shares what he hopes to see in President-elect Joe Biden’s new relief plan.
Biden, Democrats, plot ‘aggressive’ pandemic response—without the GOP
January 12, 2021 | Politico
The labor market shed 140,000 jobs in December for the first month of declines since coronavirus shutdowns began last spring. “It’s clearly a warning siren there might very well be a double-dip recession knocking at the door,” said Chicago Booth’s Austan Goolsbee.
Professor offers ways to battle ‘Zoom fatigue,’ reconnect with friends, family amid pandemic
January 8, 2021 | WBBM Newsradio
While video conferencing technology has scaled up our work-from-home experience, Chicago Booth’s Nicholas Epley suggests it’s had a negative impact on our relationships with others.
If a gut punch can be considered a wake-up call this jobs number was every bit of all of that: Professor
January 8, 2021 | Yahoo! Finance Live
Austan Goolsbee, Chicago Booth professor and former Council of Economic Advisers chair under President Obama, discusses the latest jobs report, chaos on the Capitol, and President Trump finally conceding to President-elect Biden.
Most important economic development this week was Dems taking Senate: Furman
January 7, 2021 | CNBC: The Exchange
Economist Austan Goolsbee, the University of Chicago Booth School of Business, and Jason Furman, Harvard’s Kennedy School, discuss this week’s historic events and what Democrats taking over the Senate could mean for the U.S. economy.
Georgia results could pave way for quick additional U.S. pandemic support
January 6, 2021 | Reuters
At an American Economic Association panel this week, Chicago Booth professor Austan Goolsbee said the U.S. economy needs fiscal support at a pace of about $1 trillion every six months until the virus is controlled.
Antitrust actions: Views of leading economists on the cases against Facebook
January 6, 2021 | VOX EU
The IGM Forum at Chicago Booth invited its panels of U.S. and European economists to weigh in on whether requiring Facebook to unwind its acquisitions is likely to make society better off. Booth’s Christian Leuz said there are many good reasons to take action, but it’s not clear that breakup is the best solution.
World economy faces debt doom loop, more inequity post pandemic
January 5, 2021 | Bloomberg
“We have met every crisis in the recent past with yet more aggressive central bank accommodation and yet more leverage, both public as well as private,” said Raghuram Rajan, a professor at Chicago Booth and former Reserve Bank of India governor. “The real question is: Is this a doom loop? Does it keep going until it is forced to stop?”
Stock market rally in 2020 easily outpaced luxury goods, hedge funds
January 4, 2021 | The Wall Street Journal
A lot of venture firms held up last year for the same reason as tech stocks: The pandemic accelerated the uptake of technology, said Steven Kaplan, a professor of entrepreneurship and finance at the University of Chicago Booth Business School.
The secret virtues of small talk
January 2, 2021 | The Economist
A study by Chicago Booth psychologist Nicholas Epley finds that striking up conversations with strangers tends to boost people’s moods.
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