Chicago Booth in the News

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.