In the News 2017
See below for 2017 media coverage.
Trump's Efforts to Erode Dodd-Frank Regulation
December 29, 2017 | Bloomberg
Luigi Zingales, professor at the University of Chicago’s Booth School of Business, says he'd be surprised if Republicans seek to completely eliminate Dodd Frank financial regulations, even after President Trump boasted Dec. 14 of "the most far-reaching regulatory reform in history.”
Ways to Get Kids to Eat Better in 2018
December 29, 2017 | Consumer Reports
Researchers from the University of Chicago Booth School of Business suggested healthy eating as a way to take a stand against manipulative and unfair practices of the food industry—such as engineering junk food to make it addictive, and marketing it to young children.
`Who's Afraid of Facebook?'
December 29, 2017 | Bloomberg
Luigi Zingales, professor at the University of Chicago's Booth School of Business, discusses Facebook Inc.'s market dominance and why he thinks competition is better than regulatory intervention.
Prepare For A Fightback Against Big Tech
December 27, 2017 | Forbes
But an article in the latest issue of the University of Chicago Booth School of Business's Chicago Booth Review suggests that even in the heart of the pro-business establishment not everybody is content to allow the tech titans to continue on their way unchecked. In it, Ram Shivakumar revisits the notion of "superstar" companies first applied by late University of Chicago economist Sherwin Rosen, arguing that it was "an especially apt term" for organizations such as Apple, Google, Facebook, Amazon and Microsoft, "with whom nearly everybody is familiar and upon which many of us rely on a daily basis".
Americans' declining economic mobility is reflected yet again in fewer moves into new houses and apartments
December 28, 2017 | Los Angeles Times/MSN
In recent decades, the rate at which firms create new jobs has fallen; so has the rate at which they eliminate positions, said Steven J. Davis, a professor at the University of Chicago Booth School of Business and senior fellow at the Hoover Institution. Both trends discourage workers from moving.
Chicago's top business stories of 2017
December 26, 2017 | Chicago Tribune
University of Chicago economist wins the Nobel Prize: Richard Thaler, a University of Chicago professor considered a founder of the field of behavioral economics, won the Nobel Memorial Prize in economics for his research using psychology and economics to understand how people make economic decisions.
Behavioral economics finally goes mainstream: 4 essential reads
December 21, 2017 | The Conversation
In October, the University of Chicago’s Richard Thaler won the Nobel for his work in three areas: “limited rationality,” “social preferences” and “lack of self-control.”
Apple Is the Most Valuable Public Company Ever. But How Much of a Record Is That?
December 21, 2017 | The New York Times
The University of Chicago maintains a database with virtually all companies traded publicly in the United States since December 1925. Alexander Poukchanski, assistant director of index analytics at the Center for Research in Security Prices at the Chicago Booth School of Business, used that data to create a list of the 20 top American companies, ranked by their highest market cap, from 1925 through November.
How to Water a Food Desert
December 20, 2017 | U.S. News
Now come Hunt Alcott of New York University, Rebecca Diamond of the Graduate School of Business at Stanford University and Jean-Pierre Dubé of the University of Chicago Booth School of Business to dispute a good slice of public health literature that contends that a limited supply of health food is central to unhealthy eating in poorer neighborhoods.
Paul Ryan gets a big win with a massively unpopular bill: Now it gets worse
December 20, 2017 | Salon
A University of Chicago survey of economists found near unanimity in the opinion that the Republican tax plan would increase the debt without substantially accelerating economic growth.
How to Win Your Opponent's Respect? Talk, Don't Type
December 19, 2017 | Big Think
In the study published in Psychological Science, researchers Juliana Schroeder, Michael Kardas and Nicholas Epley found that the mediums through which we interact with each other significantly affect how we form impressions about other people.
Trump Asks `How's Your 401(k)?' But Most Voters Don't Have One
December 19, 2017 | Bloomberg
“As a political slogan, ‘how is your 401(k) doing?’ suggests he’s most interested in the one-third of people who have a 401(k),” said (Austan) Goolsbee, who teaches economics at the University of Chicago’s Booth School of Business.
Women and economics
December 19, 2017 | The Economist
In 1957 Gary Becker, an economist at the University of Chicago, suggested such an inefficiency might come from men not wanting female colleagues, and thus encouraging their managers to exclude productive workers. In a meritocratic, perfectly functioning market, competition would weed out such employers. Without tough competition, though, such prejudices would lead to good female researchers being shut out.
Meet the Silver Lake Partner Who Helped Engineer the Qualcomm Bid
December 15, 2017 | Bloomberg
“It is unusual,” said Steve Kaplan, a professor at the University of Chicago Booth School of Business. “The activists have tended to be the hostile folks and the private equity investors have tended to be on the friendly side because it’s hard to get a deal done if you are hostile these days.”
People don’t trust driverless cars. Researchers are trying to change that
December 14, 2017 | Science Magazine
The idea, Dragan says, is to have "the car adapt to the person, rather than having the person adapt to the car." Such customization might help address what Berkeley Dietvorst, a marketing researcher at the University of Chicago Booth School of Business, calls "algorithm aversion"—people's unwillingness to trust digital decision-making, even if it is better than their own.
Kroszner on Inflation, Interest Rates and GDP Growth
December 14, 2017 | Bloomberg
University of Chicago Booth School of Business Professor Randy Kroszner discusses the latest Fed interest rate hike, inflation and bond yields.
Morningstar Conversation: Reality Economics
December 13, 2017 | Morningstar
Richard Thaler received the Nobel Memorial Prize in Economic Sciences on Oct. 9 for his pioneering work in behavioral economics. The month before he won, Thaler sat down with Barry Ritholtz at the Morningstar ETF Conference in Chicago for a conversation ranging from Thaler’s mentors to his movie career.
Nobel Prize winner and hedge fund founder: This is all you need to know to invest your money
December 13, 2017 | CNBC
Richard Thaler won the 2017 Nobel Prize in economics for his work on how humans may not act as rationally as economists' models assume.
REPUBLICANS MORE RESOLVED THAN EVER TO PASS THEIR “FAKAKTA” TAX BILL ASAP
December 13, 2017 | Vanity Fair
“When Ronald Reagan signed a tax reform bill in 1986, it followed three years of detailed work, thinking through options and policies,” Austan Goolsbee, economics professor at the University of Chicago’s Booth School of Business and the former Chairman of the Council of Economic Advisers under Obama, told me.
Richard Thaler, A Giant In Economics, Awarded The Nobel Prize
December 13, 2017 | Forbes
Richard Thaler is one of the most important economists of our era.
The Finance 202: Trump's bias toward alternative facts infects Treasury's tax
December 12, 2017 | The Washington Post
And 37 of 38 economists across the ideological spectrum surveyed by the University of Chicago Booth School of Business agreed the bill will add to the debt substantially (the 38th misread the question).
The Hidden Stock Market Price of Falling for the Dividend Ruse
December 12, 2017 | Bloomberg
In a yield-strapped environment, investors have a bad habit of viewing dividends as bond coupons that produce stable gains over time, according to Chicago Booth’s Samuel Hartzmark and Boston College Carroll School of Management’s David Solomon. This leads them to focus on stocks’ total return rather than the price performance. As a result, investors hang on to dividend-paying equities for longer than they would have otherwise, the research paper, “The Dividend Disconnect,” finds.
Vanguard looks to blockchain for index data
December 12, 2017 | Reuters
Vanguard funds tested with blockchain were built on indexes from the Center for Research in Security Prices, at the University of Chicago’s Booth School of Business. Vanguard manages 17 funds on those indexes including its largest, the $650 billion Total Stock Market Index Fund.
These Three Moves Will Help You Stop Feeling Lonely
December 11, 2017 | Psychology Today
In a study published in the Journal of Experimental Psychology, psychologists Juliana Schroeder and Nicholas Epley explored why strangers near each other seldom interact. They hypothesized that either people generally find solitude more pleasant than interaction, or they misjudge the consequences of interacting.
Nobel ceremony moves University of Chicago professor to tears
December 11, 2017 | Chicago Tribune
So it was both apt and touching that University of Chicago Professor Richard Thaler was moved to tears on Sunday when he was officially presented with the prize by the King of Sweden in a ceremony in Stockholm.
Only one thing matters at the upcoming Fed meeting
December 11, 2017 | Business Insider
Austan Goolsbee, former chief economic adviser to President Barack Obama and a professor at the University of Chicago, tells Business Insider he doesn’t see things getting a lot better, "and that makes me think that the Fed won’t be able to hike rates as much as they think they will."
The Secret to Getting Workers to Save More for Retirement
December 10, 2017 | The Wall Street Journal
Op Ed by Richard Thaler: Why is it so hard for people to save? In our research, we focused on two main behavioral causes: a lack of willpower and inertia.
Stress test the world economy to nip future crises in the bud, says ex-Fed guru
December 10, 2017 | The Telegraph
Randy Kroszner, a former governor of the Fed, now wants them to do the same for the global economy. “The true shocks never come from where you or markets expect,” said Mr Kroszner, now a professor of economics at Chicago Booth. “You should have a process in place whereby you are effectively doing a macroeconomic stress test.”
7 Psychology Tricks to Make Your Resolutions Stick
December 9, 2017 | Southern Living
George Wu, professor at the University of Chicago’s Booth School of Business, and his colleagues recently looked at marathon runners at the bitter end of their races. A huge number of people finished in times that clustered around round numbers, the researchers discovered—like a 4-hour marathon.
Nobel Economics Winner Says Trump Tax Plans Spur Inequality, Tax Avoidance
December 7, 2017 | U.S. News
The U.S. tax overhaul supported by President Donald Trump and the Republican party will increase inequality and opportunities for tax avoidance, Nobel economics prize-winner Richard Thaler said on Thursday.
People invest in stock scams even when they know they are scams
December 7, 2017 | Quartz
Some investors actually seek out “pump and dump” ploys in the penny-stock market in search of lottery-like returns, according to research on German stocks by Christian Leuz of the University of Chicago’s Booth School of Business and four other economists.
How to heal a nation divided by Brexit
December 5, 2017 | Yahoo!
They were rational even if everyone else was not. But as the behavioural economist and Nobel laureate Richard Thaler, said before the vote, “if you can find 100 voters in Britain that have made that calculation, I’d like to talk to them”.
The awkward search for economists who support the GOP tax plan
December 5, 2017 | MSNBC
The University of Chicago’s Initiative on Global Markets recently conducted a survey of academic economists to ask if the Republican tax plan would exacerbate America’s debt-to-GDP ratio. Of the 38 experts who responded, 37 said Republicans were wrong that the plan would pay for itself.
Is This the Right Time for a Big Tax Cut?
December 4, 2017 | NPR
"It's always valuable to keep your powder dry, if you can, so you do have fiscal space if there is a downturn," says former Fed governor Randall Kroszner, now a professor of economics at the University of Chicago Booth School of Business.
BlackRock and Vanguard Are Less Than a Decade Away From Managing $20 Trillion
December 4, 2017 | Bloomberg
And if indexing distorts the market so much that it’s easier to beat, more investors will flock to stock pickers, says Richard Thaler, Nobel laureate, University of Chicago professor and principal at Fuller & Thaler Asset Management.
FT 2017 top 20 business schools in the Americas and Asia-Pacific
December 3, 2017 | Financial Times
Meanwhile, in Chicago, Booth School of Business is fourth, five places ahead of Kellogg School of Management, in nearby Evanston. Kellogg is top of the EMBA ranking thanks to its joint degree with HKUST Business School in Hong Kong. The school is also notable for having three other graded EMBAs (including two joint degrees). However, it is not ranked for executive education.
Nick Clegg meets Richard Thaler: ‘All it would take to stop Brexit is a couple of dozen brave Tories’
December 2, 2017 | The Guardian
Richard Thaler was awarded the Nobel prize for economics in October, for work that has “built a bridge between the economic and psychological analyses of individual decision-making”.
The US middle class is hurting? Cut taxes for the rich!
December 2, 2017 | The Daily Star
The University of Chicago's Booth School of Business runs an ongoing survey of top economists spanning a wide number of specialties and political outlooks. The panel includes multiple Nobel Prize winners, White House veterans, and former presidents of the American Economic Association. Recently, they were asked about the Republican tax reform bills. Out of 42 top economists, only 1 believed the GOP tax bills would help the economy. All of them thought it would increase the debt.
'Who is the queen?' And other ways to get talking to strangers
December 2, 2017 | The Guardian
To find out how, I call Nicholas Epley, a professor of behavioural science at the Chicago Booth School of Business. He’s the psychologist who found that when people talk to strangers during their commutes, it makes them happier. I tell him how odd this sounds to me.
The GOP must choose between faith and evidence in tax-cut vote
November 30, 2017 | CNBC
Top economists surveyed by the University of Chicago business school overwhelmingly predicted weak growth and much higher debt.
What if the unwashed masses got to vote on companies’ strategies?
November 30, 2017 | The Eonomist
That is the intriguing possibility raised by a new paper by Oliver Hart of Harvard University and Luigi Zingales of the University of Chicago.
A.I. Will Transform the Economy. But How Much, and How Soon?
November 30, 2017 | The New York Times
And in an article published in November by the National Bureau of Economic Research, economists from M.I.T. and the University of Chicago suggest an answer to the puzzle of why all the research and investment in A.I. technology have so far had little effect on productivity.
Tax-cut proponents promise 3-4% growth. This economic milestone shows that’s nearly impossible.
November 29, 2017 | The Washington Post
But economists doubt the tax effort will have that pronounced an effect. That’s why, in a survey conducted by University of Chicago's Initiative on Global Markets, just one of 38 experts agreed GDP would be “substantially higher” under the proposed tax plans than under the status quo (all else being equal).
Actual experts confirm that the GOP tax plan is a dud
November 28, 2017 | Chicago Tribune
The Initiative on Global Markets at the University of Chicago Booth School of Business oversees a panel of experts in order to explore “the extent to which economists agree or disagree on major public policy issues.”
The Daily Prophet: The Everything-Is-Awesome Rally Gains Steam
November 28, 2017 | Bloomberg
Also, Bloomberg News' Steve Matthews reports that a survey of economists by the University of Chicago’s Booth School of Business -- a poll that includes Republicans, Democrats and independents -- found just one of 38 respondents agreed that, a decade from now, GDP would be substantially higher from tax cuts than under the status quo; 39 percent were uncertain and 58 percent disagreed.
GOP tax bill remains hazardous for deficit hawks
November 28, 2017 | CNBC
88 percent of top economists surveyed by the University of Chicago project substantially higher deficits and debt from the House and Senate GOP bills. Only the Tax Foundation — an outlier among economists for the aggressiveness of its dynamic scoring methods — has projected a 10-year revenue increase of at least $1 trillion from the Senate bill.
Republican Senator Wants Individuals to Pay Higher Taxes if Corporate Tax Cuts Don’t Pay Off
November 28, 2017 | Mother Jones
All of the 42 economists recently surveyed by the University of Chicago’s Booth School of Business believe the tax bill will substantially increase the national debt.
Don't Count On Substantial Economic Growth From Trump Tax Bill
November 28, 2017 | Forbes
First and foremost, the conservative Booth School of Business at the University of Chicago asked 42 economists for their opinion of the payoff from the tax bill. These included multiple Nobel Prize winners, former presidents of the American Economic Association and former White House officials.
GOP’s Ugly Secret: Tax Plan Would Force Quarter-Trillion Dollar Cut In Medicare
November 28, 2017 | Huffington Post
In fact, of the 42 professional economists surveyed by the University of Chicago Booth School of Business, only one agreed that the GOP tax cut plan would help the economy.
What You Need to Know About the GOP Tax Plan (And How to Watch the Senate Hearing)
November 28, 2017 | Fortune
Seventy percent of pass-through income winds up going to the top 1% of American earners according to research by Owen Zidar, an economist at the University of Chicago’s Booth School of Business.
U.S. Tax Plan Emboldens Stock Bulls While Economists Fret
November 28, 2017 | Bloomberg
“Nothing in the bill suggests it will increase growth,” said Richard Thaler, the University of Chicago professor who last month won the Nobel Prize in economics. “Corporate profits are already high and they are sitting on piles of cash. Why should we think they have profitable investments that they are not doing now but would do if the tax were lower?”
Senators Scramble to Advance Tax Bill That Increasingly Rewards Wealthy
November 27, 2017 | The New York Times
Seventy percent of pass-through income flows to the top 1 percent of American earners, according to research by Owen Zidar, an economist at the University of Chicago’s Booth School of Business.
GOP Tax Plan Faces Strong Headwinds in Critical Week for Congress
November 27, 2017 | U.S. News
A recent survey of economists conducted by the Chicago Booth School of Business showed similar results. Just one of 42 economists surveyed said he or she agreed with the notion that "U.S. GDP will be substantially higher a decade from now than under the status quo" if the GOP plan becomes law.
The Republican Tax on the Future
November 27, 2017 | The New York Times
It is not surprising, then, that just one of 38 prominent economists surveyed by the University of Chicago agreed that the Republican tax cut would substantially lift the economy.
Wavering GOP senators must face three hard truths on tax reform
November 27, 2017 | CNBC
In a survey of top economists by the University of Chicago's business school, only 2 percent agreed that the GOP tax cuts would substantially boost the economy by 2027; 51 percent disagreed.
GOP lawmaker uses fuzzy math to make case for small-business tax cuts
November 27, 2017 | The Washington Post
But according to a survey of economists by the University of Chicago’s Initiative on Global Markets, 37 out of 38 of economists agree the GOP tax plan would cause the U.S. debt to increase far faster than the economy.
Will Michael Flynn Start Cooperating With Special Counsel Investigation?
November 24, 2017 | NPR
The big news this week on the tax bill was the University of Chicago Booth School surveyed 48 economists. And pretty much - with one semi-exception, pretty much all of them think this will not expand growth and it will hurt the deficit.
Poll: Economists Unanimous That Debt Would Balloon Under GOP Tax Plan
November 23, 2017 | NPR
In a new poll from the University of Chicago's Booth School of Business, 38 economists from schools including Yale, MIT and the University of California-Berkeley weighed in on contentious points about the GOP tax plans.
Analysis: There is something very strange about the GOP tax plan
November 22, 2017 | Chicago Tribune
The latest came Tuesday, when only one of 42 top economists surveyed by the Initiative on Global Markets at the University of Chicago Booth School of Business thought the tax proposals moving through Congress would meaningfully expand the economy over a decade (22 disagreed or strongly disagreed, 15 were uncertain and the rest didn't answer).
Why Austan Goolsbee Is Concerned About Fed Policy
November 22, 2017 | Bloomberg
Austan Goolsbee, professor of economics at the University of Chicago Booth School and former chairman of the Council of Economic Advisers, discusses his concerns about Fed policy.
Why a Nobel Prize winner's 'single best quality' may be that he's lazy
November 10, 2017 | CNBC
U.S. economist Richard Thaler has an impressive resume. The "father of behavioral economics" received his master's in 1970 and Ph.D. in 1974, co-authored the global best seller "Nudge" as well as other books.
The rise of behavioural economics
November 7, 2017 | Nature
The Nobel Prize in Economic Sciences this year, in honouring the work of Richard H. Thaler, highlights the growing impact of behavioural economics in science and policy.
Do Nike's New Marathon Shoes Actually Make You Run Faster?
November 7, 2017 | Wired
After publishing, George Wu, a researcher at the University of Chicago Booth School of Business who has written several academic studies of runners, wrote to say that he had run a regression analysis on that data posted to determine the relationship between second- and first-half times.
Robot Productivity Boon Demands a Little Patience: Eco Pulse
November 7, 2017 | Bloomberg
Artificial intelligence and machine learning are not currently driving major pickups in productivity and output, but that doesn’t mean they won’t, Erik Brynjolfsson at the Massachusetts Institute of Technology and Chad Syverson at the University of Chicago write in a new paper.
How 'Supply' Became a Dirty Word in Economics
November 6, 2017 | Bloomberg
Since 1980, whenever substantial growth effects have been required to make a tax reform plan revenue neutral, the actual outcome has invariably been a fall in tax revenue as a share of GDP, IGM Forum.
9 Ways to Build Wealth in Your 50s
November 5, 2017 | U.S. News
To stay motivated to save, envision yourself in 20 or 30 years. Researchers Daniel Bartels of Columbia University and Oleg Urminsky of the University of Chicago found that people who feel connected to their future self are more willing to wait for a reward.
Why So Many People Choose the Wrong Health Plans
November 4, 2017 | The New York Times
Richard Thaler op-ed: If you get health insurance from your employer, you have to make decision every year about which coverage to choose.
The Psychology of Giving Human Names to Your Stuff
November 3, 2017 | The Cut
“We think there are multiple reasons why this happens,” says psychologist Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business.
Consulting Overtakes Finance At Chicago Booth
November 3, 2017 | Poets & Quants
For the first time ever, more graduating MBAs from the University of Chicago’s Booth School of Business accepted jobs in the booming consulting industry than in finance.
A way to poke Facebook off its uncontested perch
November 3, 2017 | Financial Times
Luigi Zingales and Guy Rolnik of the University of Chicago have proposed an intriguing idea. They build on the concept of “number portability”, the principle that you own your own phone number, and you can take your number with you to a different phone provider.
Creating Sustainable Communities with Craft Food
November 2, 2017 | KCET
During an interview with NPR, Ayelet Fishbach from the University of Chicago’s Booth School of Business Center reflects, “I think that food really connects people.”
The power of a nudge
November 2, 2017 | RTE
Richard Thaler's work on behavioural economics and especially his book Nudge have had a dramatic effect on many areas of public policy and regulation.
Kroszner Says Gradualist Approach Natural for Powell
November 2, 2017 | Bloomberg/MSN
University of Chicago Booth School of Business Professor and former Fed Governor Randy Kroszner weighs in on Fed chair nominee Jay Powell.
'Never say never': another GFC possible, says former US Federal Reserve board member Randall Kroszner
November 2, 2017 | The Sydney Morning Herald
The world isn't in the "all clear" when it comes to the possibility of another financial crisis, says former United States Federal Reserve board member Randall Kroszner.
US shouldn't label India a currency manipulator 'even if it's thinking of it,' former RBI governor says
November 2, 2017 | CNBC
"I don't suspect the Treasury will do that, but it shouldn't, even if it's thinking of it," Raghuram Rajan, a former governor of the Reserve Bank of India, said on the sidelines of the Barclays Asia Forum.
Personal Finance: Professor wins Nobel Prize for examining investment mistakes
November 1, 2017 | Chattanooga Times Free Press
Richard H. Thaler, a professor at the University of Chicago, gained wide recognition for his on-camera explication of the 2008 financial meltdown in the 2015 film "The Big Short."
Goolsbee Says GOP Tax Reform Is a 'Naked Handout'
November 1, 2017 | Bloomberg
Austan Goolsbee, professor of economics at Chicago Booth, discusses delay of the GOP tax plan and his views on the proposed plan. He speaks with Bloomberg's Julie Hyman and Vonnie Quinn on "Bloomberg Markets."
Top US Magazine Pitches For Raghuram Rajan To Head Federal Reserve
October 31, 2017 | PTI/NDTV/Deccan Chronicle
Can former RBI governor Raghuram Rajan head the US Federal Reserve? Yes, he would be an ideal choice to lead the American central bank, says global financial magazine Barron's.
MBA programmes are becoming more ‘experiential’
October 30, 2017 | The Hindu Business Line
Madhav V Rajan, Dean, Booth School of Business, and George Pratt Shultz Professor of Accounting, University of Chicago, says management schools have to evolve to meet student and industry expectations.
None of the Above: An Unconventional Idea for Fed Chair
October 28, 2017 | Barron's
Raghuram Rajan, as central banker of India, oversaw a sharp drop in inflation and a 50% jump in stocks.
How Not to Feel Lonely: 50 Science-Backed Tips Everyone Should Read
October 27, 2017 | Reader's Digest
"It's easy to imagine all the ways things will go badly or believe that this person doesn't want to connect," Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business told the New York Times. But if you reach out, he continued, "almost everybody reaches back."
Republicans Fast-Track Tax Cut for the Wealthy That Increases Deficit by $1.5 Trillion
October 26, 2017 | Mother Jones
A May survey by the University of Chicago’s business school found that almost no economists believe that increased economic growth would offset the costs of Trump’s tax cuts.
Find a B-School With Financial Technology Courses
October 26, 2017 | U.S. News
And many, like the University of Chicago Booth School of Business, offer a concentration, specialization or major that focuses on how human psychology impacts business.
More Than Sports: Stadiums Try Video Games and Surfing
October 25, 2017 | The New York Times
Most economic experts believe that the benefits of stadiums are very likely to be outweighed by the costs to the taxpayers who fund the projects, according to a survey this year from the Initiative on Global Markets at Chicago Booth.
Brandes Institute Announces $20,000 Charles Brandes Prize Winners
October 24, 2017 | Business Insider
This year's winners are: Dr. Samuel Hartzmark, Assistant Professor of Finance at the University of Chicago Booth School of Business; Dr. David Solomon, Assistant Professor of Finance at Boston College Carroll School of Management.
Top 10 Global Universities for Economics and Business
October 24, 2017 | U.S. News
A total of 29 recipients of the Nobel Memorial Prize in Economic Sciences have been affiliated with the University of Chicago throughout its history according to the school's website.
Predictably Unpredictable: Why We Don't Act Like We Should
October 23, 2017 | NPR
That's the title of Richard Thaler's most recent book: Misbehaving: The Making of Behavioral Economics. If you've read Thaler's previous book, Nudge, you know he's an economist who studies why people don't act the way traditional economists say they will.
Reckless tax cuts could actually 'undermine' GDP growth: Policy expert Goolsbee
October 23, 2017 | CNBC
Economic policy expert Austan Goolsbee shared his view that reckless tax cutting could actually hamstring GDP growth in an exclusive interview with CNBC PRO 's Mike Santoli.
Work Before Fun? That Might Not Always Be Best
October 23, 2017 | The Wall Street Journal
“People have this strong intuition that the good stuff will be better if it comes after these difficult things,” says Dr. O’Brien, an assistant professor of behavioral science at the University of Chicago Booth School of Business.
When The Nobel Prize Goes Pop: Richard Thaler And The Uncertain Future Of 'Nudge'
October 21, 2017 | Forbes
Summing up, the contribution that Richard Thaler has made to behavioural economics over the past several decades has been seminal, enlightening and path-breaking.
America’s Best University President
October 20, 2017 | The New York Times
Several years ago Robert Zimmer was asked by an audience in China why the University of Chicago was associated with so many winners of the Nobel Prize — 90 in all, counting this month’s win by the behavioral economist Richard Thaler. Zimmer, the university’s president since 2006, answered that the key was a campus culture committed to “discourse, argument and lack of deference.”
YIMBYism Can't Help Everyone
October 20, 2017 | Forbes
Have you heard of Richard Thaler? If not, you should. Thaler, a professor at the University of Chicago's Booth School of Business, won this year's Nobel Prize for Economic Sciences for his work in the field of behavioral economics.
Betrayed by Banks, 40,000 Businesses Are in Limbo
October 20, 2017 | Bloomberg
“The Veneto banks have been crucial for the creation and support of thousands of small companies, which are the backbone of the local economy,” said Luigi Zingales, a Padua-born professor at the University of Chicago’s Booth School of Business. “That model has now disappeared.”
Floating Exchange Rates Can Cause Big Trouble
October 20, 2017 | Bloomberg
But Gopinath and other speakers at the Peterson Institute event emphasized that many countries remain in the murky middle—neither fully floating nor fully fixed—and that this is likely to persist. “The world is messy,” said Raghuram Rajan, an economist at the University of Chicago’s Booth School of Business, who was governor of the Reserve Bank of India from 2013 to 2016.
A Nobel Nod to the Irrational
October 19, 2017 | Psychology Today
The University of Chicago’s Professor Richard Thaler walked off with the Nobel Prize in Economics for his work researching Behavior Finance.
Why Is Nobel-Winning Economist Richard Thaler So Jovial?
October 18, 2017 | Huffington Post
When Professor Richard Thaler of the University of Chicago received the news that he had won the Nobel Memorial Prize in Economic Sciences for “contributions to behavioral economics,” he faced an eager press with unusual mirth. What’s the story behind Professor Thaler’s jovial response?
Why tax cuts won't generate as much economic growth as Trump hopes
October 18, 2017 | Los Angeles Times
Eric Zwick, a University of Chicago economist who studies public policy and corporate behavior, thinks it’s a combination of technology, globalization and policy considerations that has made it less attractive for companies to invest in the U.S. than elsewhere. What’s more, he says, the increasing shift in the American economy to services could mean there is just less demand for capital goods than before.
Nobel Prize in Economics ideas help shape Ireland’s policy
October 18, 2017 | The Irish Times
The theories of the 2017 winner, Richard Thaler, however, are affecting the lives of many people without their being aware of it, as governments are implementing policies based on Thaler’s insights.
How Washington Should Regulate Facebook
October 18, 2017 | Forbes
University of Chicago’s Luigi Zingales and Guy Rolnik argue that Facebook should be compelled to share user’s data with rival social networks.
This year’s economics Nobel winner invented a tool that’s both brilliant and undemocratic
October 16, 2017 | Vox
Richard Thaler, of the University of Chicago, just won the Nobel Memorial Prize in economics for his contribution to behavioral economics — the subfield known for exploring how psychological biases cause people to act in ways that diverge from pure rational self-interest.
A WELL DESERVED ECONOMICS AWARD. BUT FOR WHAT EXACTLY?
October 16, 2017 | Newsweek
This year, liberals are the ones who are smiling, because Richard Thaler won the award.
Feeling irrational? Nobel economist Richard Thaler says you're not alone
October 15, 2017 | Detroit Free Press
Professor Richard Thaler of the University of Chicago is one of the longtime leaders of this school of behavioral economics.
Does your 401(k) owe Trump a thank-you note?
October 15, 2017 | Chicago Tribune
More generally, stock markets tend to overshoot, a phenomenon that University of Chicago behavioral economist Richard Thaler, awarded the Nobel Prize in economics on Oct. 9, played a key role in documenting.
Americans are happy to spend their cash, but will the confidence last?
October 15, 2017 | The Hill
That isn’t the case today, as the field of behavioral economics has become more and more popular. Just this month, University of Chicago Professor Richard Thaler received the Nobel Prize for his work in behavioral economics.
Why Surge Prices Make Us So Mad: What Springsteen, Home Depot and a Nobel Winner Know
October 14, 2017 | The New York Times
Understanding this logic can also win you a Nobel in economics. At least, it did recently for the University of Chicago economist Richard H. Thaler, who was honored for work that includes study of what constitutes fairness in markets.
Richard Thaler Talks About Silly (but Serious) Things
October 13, 2017 | The New York Times
Richard H. Thaler learned early on Monday that he had won the Nobel Memorial Prize in Economic Sciences for “contributions to behavioral economics”—a field that he helped create.
Alan Tonelson: Will GOP watered-down victory satisfy their base?
October 11, 2017 | CNBC
Austan Goolsbee, UNiversity of Chicago Booth School and former chairman of Council of Economic Advisers, and Alan Tonelson, RealityCheck, discuss the chances of tax reform progressing through the Trump agenda and trade talks on Capitol Hill.
Breakingviews - Hadas: Economists need more psychological abuse
October 11, 2017 | Reuters
What do you get when you merge psychology with economics? Richard Thaler, who just won the Nobel Memorial Prize in the latter field, has an answer, which he calls behavioural economics.
Science Advances One Funeral at a Time. The Latest Nobel Proves It
October 10, 2017 | Bloomberg
Richard Thaler of the University of Chicago’s Booth School of Business, who won the Nobel Prize in economics on Oct. 9, exemplifies Planck’s observation.
The Making of Richard Thaler’s Economics Nobel
October 10, 2017 | The New Yorker
Daniel Kahneman, the Princeton psychologist who shared the 2002 Nobel Prize in economics for his role in developing the field of behavioral economics, is a night person. Early on Monday morning, he went to sleep at around 3 a.m., which meant that he missed the call at 6:49 a.m. from his closest friend and longtime research collaborator, the University of Chicago economist Richard Thaler, who had just been named the sole recipient of the 2017 prize.
The Art of Thinking Well
October 10, 2017 | The New York Times
Richard Thaler has just won an extremely well deserved Nobel Prize in economics. Thaler took an obvious point, that people don’t always behave rationally, and showed the ways we are systematically irrational.
Nobel Economist Thaler Says He's Nervous About Stock Market
October 10, 2017 | Bloomberg
A buoyant and complacent stock market is worrying Richard H. Thaler, the University of Chicago professor who this week won the Nobel Prize in economics.
Friday the 13th Is Back. Here's Why It Scares Us.
October 10, 2017 | National Geographic
Jane Risen, a behavioral scientist at the University of Chicago Booth School of Business, has found that superstitions can influence even nonbelievers.
Kansas Tried a Tax Plan Similar to Trump’s. It Failed.
October 10, 2017 | The New York Times
Already, 70 percent of pass-through income flows to the top 1 percent of American income earners, Owen Zidar, an economist at the University of Chicago Booth School of Business, has found.
Richard Thaler: A Nobel Prize for Human Nature
October 10, 2017 | The Wall Street Journal
This year’s Nobel Prize in economics was awarded for calling out loud, “The emperor has no clothes.”
Richard Thaler Wins the Nobel in Economics for Killing Homo Economicus
October 9, 2017 | The Atlantic
Richard Thaler, one of the fathers of behavioral economics and a professor at the Booth School of Business at the University of Chicago, has won the 2017 Nobel Memorial Prize in Economic Science.
That 'waning' U. of C. dynasty wins another Nobel
October 9, 2017 | Chicago Tribune
Well, in the 24 years since those snarky comments, we count nine times a professor, or two, associated with the University of Chicago has gotten the economics Nobel, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Richard Thaler won the Nobel Prize for making economics more human — and more real
October 9, 2017 | The Washington Post
If the only criteria for winning was making the dismal science un-dismal — even fun — Thaler would have won years ago. But because his work, to use an overused phrase that here fits, also revolutionized our understanding, Stockholm, finally, could not look the other way.
Mental Accounting and Self-Control
October 9, 2017 | Psychology Today
The 2017 Nobel Prize in Economics was awarded to Richard Thaler from the University of Chicago.
Economics Nobel winner Thaler shed light on how real people behave
October 9, 2017 | PBS
University of Chicago scholar Richard Thaler was honored with the 2017 Nobel Prize in economics for his work questioning traditional assumptions that markets act rationally, and for taking human nature into account.
4 Ways Nobel Prize Winner Richard Thaler's Work Has Improved Your Life
October 9, 2017 | Forbes
When I interviewed Richard Thaler a few years ago for a Forbes magazine piece, I was confident enough to tell him he "was going to get a call from Stockholm."
Meet Richard Thaler, the Man Who Just Won the Nobel Prize for Helping You Save for Retirement
October 9, 2017 | TIME
You may never have heard of Richard Thaler. But when he won the Nobel Prize for economics on Monday, personal finance experts let out a big cheer.
Nobel goes to Richard Thaler who made economics human again
October 9, 2017 | Associated Press
Richard Thaler of the University of Chicago on Monday won the Nobel economics prize for documenting the way people’s behavior doesn’t conform to economic models that portray them as perfectly rational. As one of the founders of behavioral economics, he has helped change the way economists look at the world.
American wins Nobel Prize for work on behavioral economics
October 9, 2017 | UPI
The 2017 Nobel Prize in Economic Sciences -- the final award for this year -- was awarded Monday to an American economist for his work in integrating economics and psychology.
'Nudge' guru Richard Thaler wins the Nobel prize for economics
October 9, 2017 | The Telegraph
Professor Richard H Thaler has been awarded the Nobel memorial prize in economic sciences for his contributions to behavioural economics.
Nobel prize in economics awarded to Richard Thaler
October 9, 2017 | The Guardian
Richard Thaler co-wrote a bestselling book on the nudge concept read by politicians around the world and soon had them embracing the notion that people can be influenced by prompts – such as changing the wording of tax demands – to alter their behaviour.
We're all human - 'Nudge' theorist Thaler wins economics Nobel
October 9, 2017 | Reuters/Daily Mail
U.S. academic Richard Thaler, who helped popularise the idea of “nudging” people towards doing what was best for them, won the 2017 Nobel Economics Prize on Monday for his work on how human nature affects supposedly rational markets.
Richard Thaler of the University of Chicago wins Nobel for work in behavioral economics
October 9, 2017 | Chicago Tribune
The Nobel prize in economics was awarded Monday to Richard Thaler of the University of Chicago for research showing how people's choices on economic matters — whether on savings or game shows like "Deal or No Deal" — are not always rational.
The Nobel in economics rewards a pioneer of “nudges”
October 9, 2017 | The Economist
NOT long ago, the starting assumption of any economic theory was that humans are rational actors who maximise their utility. Economists summarily dismissed anyone insisting otherwise. But over the past few decades, behavioural economists like Richard Thaler have progressively chipped away at this notion.
Thaler Changed My Life (and Everybody Else's)
October 9, 2017 | Bloomberg
I first heard about Richard Thaler in the 1980s, in a locker room at the University of Chicago.
American Richard H. Thaler wins Nobel Prize in economics
October 9, 2017 | CNN
Richard Thaler, whose work influenced the Obama administration and led to a cameo in "The Big Short," was cited for his research in the field of behavioral economics. He gets 9 million Swedish krona, or about $1.1 million.
Nobel Prize in Economics: Who is Richard Thaler?
October 9, 2017 | The Wall Street Journal
The Royal Swedish Academy of Sciences on Monday selected American economist Richard Thaler of the University of Chicago as the winner of the 2017 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, recognizing him for contributions to the field of behavioral economics.
Nobel in Economics Is Awarded to Richard Thaler
October 9, 2017 | The New York Times
Richard H. Thaler was awarded the Nobel Memorial Prize in Economic Science on Monday for his contributions to behavioral economics.
'Nudge' economist Richard Thaler wins Nobel Prize
October 9, 2017 | BBC
Prof Thaler, of Chicago Booth business school, co-wrote the global best seller Nudge, which looked at how people make bad or irrational choices.
Why Raghuram Rajan may be in the running for Nobel prize for Economics
October 9, 2017 | Hindustan Times
Former RBI governor Raghuram Rajan’s name is doing the rounds as a probable for the Nobel Prize for Economics this year, according to Clarivate Analytics, a company that does academic and scientific research and maintains a list of dozens of possible Nobel winners based on research citations.
Pinpointing Racial Discrimination by Government Officials
October 6, 2017 | The New York Times
As a real-world experiment, it built on earlier “audit experiments,” as they are known in social science. Perhaps the most famous is a study by Marianne Bertrand of the University of Chicago and Sendhil Mullainathan of Harvard (who is a regular contributor to this column).
The Tax Cut Consensus
October 4, 2017 | U.S. News
Finally, in case one believes that ambiguity might abound, University of Chicago economist Austan Goolsbee, dispenses with the notion. The consensus is clear: It's "overwhelmingly against there being big growth effects," says Goolsbee, who headed President Barack Obama's Council of Economic Advisers before returning to the Booth School after several years.
Economist: Being pro-business is basically being pro S&P 500, it protects large corporations and doesn't promote growth and innovation
October 4, 2017 | Business Insider
Business Insider's Sara Silverstein talks with University of Chicago Booth School of Business professor Luigi Zingales. Zingales discusses the difference between being pro-business and pro-market. Following is a transcript of the video.
University of Chicago’s Business School Gets $75 Million Gift
October 4, 2017 | Bloomberg
A couple who met at the University of Chicago’s business school four decades ago is donating $75 million to their alma mater, the second-biggest gift ever for the graduate program.
Forget Wall Street. M.B.A.s Want to Work for Amazon
October 4, 2017 | Fox
At the University of Chicago Booth School of Business, Amazon took in more interns than either Bain & Co. or McKinsey & Co., which until recently were the school's top hirers of interns, according to Madhav Rajan, dean of the Booth school.
Iris can’t hold your hand, but she may ease your mind as you
step into a driverless car
October 3, 2017 | Washington Post
Epley, who teaches behavioral science at the University of Chicago Booth School of Business, and his colleagues gave Iris a genuine human voice and, as a result, a gender.
U.S. Antitrust Law Is Not Broken
September 29, 2017 | Bloomberg
“There is a direct connection between economic power, bigness, and political power,” says University of Chicago economist Luigi Zingales. It’s a sentiment Warren echoes, decrying “the ability of giant corporations to use their money and power to bend government policy and regulation to benefit themselves.”
Economists Think Republicans’ Tax Numbers Are a Joke
September 29, 2017 | Mother Jones
In May, the IGM Forum at the University of Chicago’s Booth School of Business surveyed dozens of top economists on whether a similar Trump tax plan would pay for itself through economic growth.
Economic forces making US men less appealing partners, researchers say
September 28, 2017 | CNN
Marianne Bertrand, an economist at the University of Chicago's Booth School of Business, has found a "cliff" in relative income in American marriages at the 50-50 split mark.
Trump’s Tax Cuts Seen Producing Short Job Growth ‘Sugar High’
September 28, 2017 | Bloomington
So the tax-cuts-produce-growth argument “is not yet settled,” said William Gale, a former senior economist to former President George H.W. Bush. A widely cited 2012 survey by the University of Chicago’s Booth School of Business found an even split among economists on the question.
An Italian economist told us Berlusconi and Trump are the same … except Trump is meaner
September 26, 2017 | Business Insider
Business Insider's Silverstein talks with University of Chicago Booth School of Business professor Luigi Zingales. Zingales discusses a statement he cut from one of his first books predicting that someone like Donald Trump could become President of the United States.
Republicans may have to make a choice this week to focus on tax reform or health care
September 25, 2017 | CNBC
Discussing the rocky path ahead for the Republican tax plan with Austan Goolsbee, University of Chicago Booth School of Business economics professor and former Council of Economic Advisors chair, and Lanhee Chen, Hoover Institution research fellow and former Romney campaign policy advisor.
Why Martin Shkreli’s view on corporate profits is misguided
September 24, 2017 | Business Insider
University of Chicago Booth School of Business professor Luigi Zingales and Business Insider executive editor Sara Silverstein discuss comments made by imprisoned former pharmaceutical executive Martin Shkreli. Zingales says that while the pursuit of peak profits has become the corporate mantra, that isn’t a hard-and-fast rule.
Socially responsible investors are making some key mistakes
September 23, 2017 | Business Insider
University of Chicago Booth School of Business professor Luigi Zingales says that one popular approach for socially responsible investing is misguided.
How 2 state legislatures are quietly making America a better place
September 22, 2017 | Vox
The University of Chicago’s Chang-Tai Hsieh and UC Berkeley’s Enrico Moretti estimate that restrictions on building housing cut US economic growth in half from 1964 to 2009.
The Best Investment Since 1926? Apple
September 22, 2017 | The New York Times
He relied on a database developed at the University of Chicago, known as CRSP, for the Center for Research in Security Prices, that contains virtually all publicly traded stocks in the United States. The Center for Research uses rigorous and logical criteria to determine when stocks enter and depart its listings, with some results that may seem surprising at first glance.
THE BOTTOM LINE: The 'Trump trade' is back and Ray Dalio breaks down the bitcoin bubble
September 21, 2017 | Business Insider
Silverstein talks with University of Chicago Booth School of Business professor Luigi Zingales about whether companies should maximize market value. Zingales discusses a research paper he authored, which makes the point that profit maximization is important to shareholders, but it’s not the only thing they care about.
Big technology firms are newly in the hot seat at home
September 21, 2017 | The Economist
Luigi Zingales and Guy Rolnik, both of the University of Chicago, have called for legislation to reallocate the ownership of data created on social media to users.
Important for BOE's Carney to react after Brexit vote
September 20, 2017 | CNBC
Randall Kroszner, former governor at the Federal Reserve, says that Bank of England head Mark Carney was reasonable to expect downside risk post-Brexit.
Beginning of the End for QE
September 20, 2017 | BBC
A decade on from the financial crisis, the US Federal Reserve is likely to formally announce the process of unwinding quantitative easing. The BBC's Dominic O'Connell speaks to Randy Kroszner.
The Tide Is Turning Against Big Tech’s Monopolies—Because of U. of C.
September 20, 2017 | Chicago Magazine
One of the major drivers of this rethinking is Luigi Zingales, a professor of finance at the U. of C.’s Booth School of business and a prolific writer who’s been sounding the alarm about monopoly power and crony capitalism since he saw his adopted country moving towards the dysfunctional model of his native Italy.
Where MBA Apps Are Way Up — And Down
September 18, 2017 | Poets & Quants
At least 16 of the top 25 U.S. schools are reporting application increases in 2016-2017, with four programs showing double-digit rises in the number of candidates wanting a seat in their MBA classes. At both the University of Chicago’s Booth School of Business and Carnegie Mellon’s Tepper School of Business, applications rose 13.5% last year.
Calgary Flames’ arena tantrum masks inconvenient truth: Economic payoff isn’t there
September 18, 2017 | The Globe and Mail
The University of Chicago's Booth School of Business recently asked a panel of 50 prominent U.S. economists whether the benefits of subsidizing professional sports venues exceed the cost to taxpayers. Nearly six out of 10 said no.
The Amazon Monopoly Problem: Prime Time For Antitrust Action Vs. These Internet Giants?
September 16, 2017 | Investor's Business Daily
Luigi Zingales, finance professor at the University of Chicago Booth School of Business, is calling for a more-proactive antitrust approach that would have kept Facebook from buying up Instagram and WhatsApp.
A Thinking Person’s Guide to Going With Your Gut
September 14, 2017 | New York Magazine
My first problem, it seems, is thinking of these two modes as a binary, said Reid Hastie, who studies decision-making at the University of Chicago Booth School of Business. “I actually think it’s better to describe them as a continuum,” says Hastie, author of the 2009 book Rational Choice in an Uncertain World: The Psychology of Judgment and Decision Making. “Almost any thought process we’re interested in is a combination of the two.”
What Employers Want From MBA Graduates
September 14, 2017 | Poets & Quants
Julie Morton is associate dean of careers services and corporate relations at Booth. She says half of her team is responsible for spreading the word about the value of hiring MBA grads.
Wages are stagnating, robots are taking our jobs. This Democrat has a $1.4 trillion solution.
September 12, 2017 | Vox
"The EITC, in addition to being good economics and encouraging more low-income people to work, gives Democrats an entree into the [tax-policy debate] that doesn't focus on the groups at the top that don't really need more tax cuts," said Austan Goolsbee, former chair of Obama's Council of Economic Advisers, now a University of Chicago economics professor.
Who will lead Chicago's Amazon charm offensive?
September 12, 2017 | Crain's Chicago
Mark Tebbe, founder of Answers.com: Tebbe, now adjunct professor of entrepreneurship at the University of Chicago Booth School of Business, involves himself in most things tech and entrepreneurial; aside from civic pride, who knows if he would devote time to bringing an established company to the city.
Old questions, new answers: The changing narrative of the great recession
September 12, 2017 | Livemint
The widely-accepted consensus of what fuelled credit growth in the run-up to the Great Recession (2007-09) has been largely consistent and has centered on the findings of Atif Mian of Princeton University and Amir Sufi of Chicago Booth School of Business.
Colorado, Texas Lead Public University Funds in Investment Gains
September 11, 2017 | Bloomberg
“What the stock market does drives a lot of this,” said Steven Kaplan, a professor of entrepreneurship and finance at the University of Chicago’s Booth School of Business. “And in fiscal ’17, the stock market was great.”
Why Your Economic Argument Against Immigration Is Probably Wrong
September 11, 2017 | Fortune
In a poll on highly skilled immigration, a whopping 95% of economists who answered thought that the average American would be better off with more immigrants; the other 5 % were uncertain.
Trump could force a repeat of the Federal Reserve’s worst modern-day policy blunder
September 9, 2017 | Business Insider
"He wants someone at the Fed where he can call them and say 'I want you to do A, B and C,'" said Austan Goolsbee, University of Chicago economist and former top economic advisor to President Barack Obama, in an interview with CNBC.
Don’t let pharma take down a new Maryland price gouging law
September 9, 2017 | Business Insider
The problem is unlikely to go away on its own. Studies by University of Chicago economist Rena Conti and Harvard University pharmaceutical policy researcher Aaron Kesselheim show that more than 50 percent of all off-patent drugs are produced by two or fewer manufacturers.
There was no fixed date for demonetisation: Raghuram Rajan
September 8, 2017 | Forbes India
Rajan took over as RBI chief on September 4, 2013, and held the position for three years before going back to teaching at the University of Chicago.
The truth about the gender wage gap
September 8, 2017 | Vox
"We decided to focus on MBAs, because if you think about women’s access to the top echelons, the corporate sector is one where they have had a particularly difficult time," says Marianne Bertrand, an economist at the University of Chicago who led the study.
3 Ways to Ruin Your Investing Strategy
September 8, 2017 | U.S. News
This psychological phenomenon is known as "mental accounting," a phrase popularized by Richard Thaler, a behavioral economist at the University of Chicago's Booth School of Business, and it's important to understand how it can adversely affect your personal finances.
Austan Goolsbee: President wasn't on top of the details and just made a deal.
September 7, 2017 | Business Insider
Discussing the outlook for future policy moves likes tax reform after President Trump sided with the Democrats over the debt ceiling with Lanhee Chen, Hoover Institution fellow and former Romney and Rubio campaign advisor, and Austan Goolsbee, University of Chicago's Booth School of Business and former Council of Economic Advisors chair.
FACT CHECK: Are DACA Recipients Stealing Jobs Away From Other Americans?
September 6, 2017 | NPR
In a February survey from the University of Chicago, two-thirds of economists surveyed disagreed with the premise that "if the U.S. significantly lowers the number of H-1B visas now, employment for American workers will rise materially over the next four years." None agreed. (The rest had no opinion or did not answer.)
When a Company Is Making Money From the Opioid Crisis
September 6, 2017 | The Atlantic
John Paul Rollert, who teaches ethics at the University of Chicago’s Booth School of Business (and who writes frequently for The Atlantic), agrees with McDonald that there isn’t—or shouldn’t be—any real difference in standards between “business ethics” and human ethics.
How Local Housing Regulations Smother the U.S. Economy
September 6, 2017 | The New York Times
Op-ed by Chang-Tai Hsieh - If you live in a coastal city like New York, Boston or San Francisco, you know that the cost of housing has skyrocketed. This housing crisis did not happen by chance: Increasingly restrictive land-use regulations in the last half-century contributed to it.
Taking Advantage Of Behavioral Economics Can Get Aid To More People In Poverty
September 5, 2017 | Fast Company
“Even considering just a couple of the most widely and thoroughly researched behavioral science principles, [they have] the potential to improve the effect of development programs and development policies–in some cases pretty dramatically–at little or no cost,” says Christopher Bryan, an assistant professor at University of Chicago Booth School of Business, who co-authored the report.
Manage your ego — and more advice for MBA students
September 5, 2017 | Financial Times
“Students must be prepared to challenge themselves, rather than prove themselves. And be open to challenge from others. MBAs must be willing to engage in everything on offer because the qualification goes way beyond just taking classes." - Professor Ayelet Fishbach, professor of behavioural science and marketing, University of Chicago Booth School of Business
Raghuram Rajan On Demonetisation: One Still Cannot In Any Way Say It Has Been An Economic Success
September 3, 2017 | Huffington Post
In a recent interview with The Times of India, Raghuram Rajan, former governor of the Reserve Bank of India, said that it was important for India to get its citizens to pay tax, but that demonetisation had not proved to be a fruitful exercise.
Economists don't think price gouging is a problem. But what about our social values?
September 1, 2017 | Marketplace
“They are misunderstanding that if you piss people off, you pay a price,” said Richard Thaler, an economist at the Booth School of Business at the University of Chicago.
Instead of tax reform go to cuts
August 31, 2017 | CNBC
Austan Goolsbee, University of Chicago Booth School of Business, and Diane Swonk, DS Economics founder and CEO, discuss Treasury Secretary Steve Mnuchin's comments on tax reform and raising the debt ceiling.
What employers want from MBA graduates — and what they don’t
August 31, 2017 | Financial Times
Business schools are reacting by trying to broaden the pool of MBA employers. At Chicago’s Booth School of Business, technology companies such as Amazon and Google have overtaken management consultancies and investment banks as the biggest hirers in recent years.
Harvey’s economic impact will be like the housing bubble popping, says Austan Goolsbee
August 31, 2017 | Fox
Austan Goolsbee, former chairman of the Council of Economic Advisers under the Obama Administration, on Thursday compared the housing market crash, which began in 2007, to the economic damages Hurricane Harvey is set to cause the state of Texas.
‘Pick-And-Choose’ Policies Helping Populist Nationalism: Raghuram Rajan
August 31, 2017 | Bloomberg
As routine jobs get outsourced and automated, “moderate education no longer cuts it”, Rajan said in a keynote address at a conference at the Stigler Center at the University of Chicago Booth School of Business on political economy of finance.
Scholar says Google criticism cost him job: 'People are waking up to its power'
August 31, 2017 | The Guardian
Pressure for change is mounting. Luigi Zingalesm, a professor at the University of Chicago Booth School, recently told the Financial Times that he and others believe antitrust laws should be reverted back to old laws that also limited political power – and in particular, continued the FT article, “the ability of rich companies and people in coastal areas to control everyone and everything else”.
Chicago Booth Review Explores How to Create Middle-Class Jobs
August 30, 2017 | WTTW
This skills gap is just one impediment to increasing the number of Americans who hold well-paid, full-time employment. “How to Create Middle-Class Jobs,” the September cover story in Chicago Booth Review, discusses a range of obstacles, including education and preparedness, infrastructure and regulation. (The University of Chicago Booth School of Business publishes the magazine.)
Austan Goolsbee Expects U.S. Debt Ceiling to Be Raised
August 30, 2017 | Bloomberg
Austan Goolsbee, economics professor at the University of Chicago Booth School, discusses the outlook for U.S. budget negotiations with Bloomberg's Vonnie Quinn on "Bloomberg Markets."
What I Learned About Relationships From 30 Days Without Texting
August 29, 2017 | Success.com
Nicholas Epley, the John T. Keller Professor of behavioral science at the University of Chicago and author of Mindwise: How We Understand What Others Think, Believe, Feel, and Want, says what’s lost is something fundamental to human connection—something we don’t even realize happens during a conversation.
MBA Application: 6 Of The Best US Business Schools For Social Impact
August 29, 2017 | Business Because
Chicago Booth is home to a social impact hub, the Rustandy Center for Social Sector Innovation, which equips graduates “with the knowledge and tools to positively impact humanity.”
Americans Are Choosing Paid Jobs Over Family Caregiving
August 18, 2017 | Bloomberg
The thing is, it doesn't seem to matter all that much for consumer spending, according to an analysis by economists including Amir Sufi and Atif Mian. That's puzzling, but it doesn't mean that the optimism gap is unimportant.
How old is too old for an MBA? Depends what you want.
August 17, 2017 | Chicago Tribune
At the University of Chicago, the 2017 incoming class of executive MBA candidates is 37 years old on average, with 13 years of experience. For the past five years, an average 31 percent of the incoming class of executive MBA students have been age 40 or older.
Kroszner Sees Chance of Fed Delaying Rate Hike Until 2018
August 17, 2017 | Bloomberg
Former Federal Reserve Governor Randy Kroszner, a professor at the University of Chicago Booth School of Business, discusses Fed policy with Bloomberg's Vonnie Quinn and Nejra Cehic on "Bloomberg Markets."
How These Successful CEOs Learned to Lead Through Uncertainty
August 16, 2017 | Inc.
Policy-related uncertainty is higher than it's been in decades, having intensified after the surprise election of Donald Trump, whose agenda and style of government differ significantly from what came before it, says Steven Davis, a professor of business economics at the University of Chicago's Booth School of Business.
Business leaders quit Trump panel; he hits back hard
August 15, 2017 | The Washington Post
“It’s certainly a sign that Trump’s more controversial stuff isn’t playing well with companies selling to middle America,” said (Austan) Goolsbee, now a professor at the University of Chicago.
It’s the Economy, Democrats, but Inequality Is Not the Issue
August 15, 2017 | The New York Times
It is hardly surprising that government — not Wall Street or big business — gets the blame. As noted in another study by economists at Princeton, the University of Chicago and the University of British Columbia, it is the government that mediates the competing interests of creditors and debtors.
How closely related are the twin deficits?
August 14, 2017 | Education Post
To help explore that question, Chicago Booth’s Initiative on Global Markets asked its Economic Experts Panel whether or not a reduction in the fiscal deficit would result in a lower trade deficit.
Why big companies may pose a threat to democracy and economic prosperity
August 11, 2017 | Livemint
Firms are seen as entities trying to maximize profits by managing resources efficiently. This benign definition might not hold for big companies, whose revenues rival that of governments, argues Luigi Zingales, professor of finance at the Chicago Booth School of Business.
3 Reasons to Study Change Management in B-School
August 10, 2017 | U.S. News
Stacey Kole, a clinical professor of economics and deputy dean of the full-time MBA program at the University of Chicago's Booth School of Business, says an excellent business school is one that not only discusses current business trends but also teaches survival strategies that will help students confront unanticipated changes throughout their business careers.
Why Some Banks Recover and Others Don't
August 10, 2017 | Bloomberg
In a recent paper, Bank of Italy's Emilia Bonaccorsi di Patti and the University of Chicago's Anil Kashyap found that banks which successfully recover from sharp drops in profitability have something in common: They avoid throwing good money after bad by resolutely shutting off credit to their riskiest clients.
Fed Will Face Questions if Inflation Stays Low, Konstam Says
August 10, 2017 | Bloomberg
Finally, Austan Goolsbee, a professor at the University of Chicago’s Booth School of Business, says the U.S. isn’t doing a great job about measuring part-time jobs in the labor economy.
The case for Medicare for all — plus 7 smaller steps to fix U.S. health care
August 8, 2017 | Salon
Richard Thaler, an economist at the University of Chicago School of Business, suggests a way to dispense with malpractice insurance premiums altogether: Those with a record of providing high-quality care at good value could apply to the government for a safe harbor from malpractice suits. Organizations that receive this status could require patients to waive their right to sue for adverse outcomes.
Women who are elite mathematicians are less likely than men to believe they’re elite mathematicians
August 8, 2017 | The Washington Post
In an op-ed, Devin Pope, professor of behavioral science and does research in behavioral economics, writes, "Women, as a now-former Google engineer recently reminded the world, are underrepresented in several mathematical fields, including physics, computer science and engineering. The causes of that under-representation are hotly debated, with barriers to entry and gender differences in test scores widely discussed as underlying reasons. But new data analysis underscores the importance of another factor in the gap: confidence."
The truth about the gender wage gap
August 8, 2017 | Vox
Nearly 10,000 people graduated with MBAs from University of Chicago’s Booth School of Business between 1990 and 2006.
Personal bankruptcies are down 50% in the US. Thanks, Obamacare?
August 7, 2017 | Quartz
Neale Mahoney, an associate professor of economics at the University of Chicago Booth School of Business, says 50% is probably too high a number to attribute solely to medical debt: the equivalent of about 382,000 annual medical-related bankruptcy filings last year.
14 Ways to Squeeze More Joy Out of Every Day
August 7, 2017 | TIME
In one 2014 study by Nicholas Epley of the University of Chicago Booth School of Business and the author of Mindwise: How We Understand What Others Think, Believe, Feel and Want, participants heading to work via train either refrained from engaging with fellow passengers or made conversation.
Washington dysfunction fuels uncertainty for businesses
August 7, 2017 | The Washington Post
“When policy uncertainty goes up, firms that are more exposed to the policy have a bigger pull back,” said Steven Davis, a professor of international business and economics at the University of Chicago Booth School of Business.
Is Dodd-Frank Crippling Banks or Saving Them?
August 4, 2017 | Fortune
“It is difficult to find systematic evidence from the recent crisis that involvement in proprietary trading increased the risk of failure,” wrote Randall S. Kroszner, a former member of the Board of Governors of the Federal Reserve and professor of economics at the University of Chicago Booth School of Business, in a recent academic paper.
Raghuram Rajan on the 'fault line' that threatens the world economy
August 3, 2017 | Financial Review
"I foray out from academia for a few years at a time and I'm always happy to return," he says from the University of Chicago Booth School of Business, where he has been a long-time professor of finance.
How much money you need to earn to be in the top 1% at every age
August 2, 2017 | Business Insider
A recent analysis from economists Thomas Picketty, Emmanuel Saez, and Gabriel Zucman cited by the University of Chicago’s Booth School of Business found that the bottom 50% of Americans saw zero income growth over the past 35 years.
General direction of Modi's reforms has been positive: Randall Kroszner, University of Chicago
August 1, 2017 | Economic Times
It will be valuable for the Fed to start cutting its balance sheet sooner rather than later so that they can do it gently in the back ground without scaring the markets like in 2013, said Randall S Kroszner, an economics professor at the University of Chicago's Booth School of Business.
Economists Are Cheating Their Profession
August 1, 2017 | Bloomberg
Just like regulators, economists can be captured by powerful corporations and individuals, as University of Chicago economist Luis Zingales has argued.
No, Maximizing the Stock Price Is Not Job 1 for Company Directors
August 1, 2017 | Bloomberg
Luigi Zingales of Chicago’s Booth School of Business and Oliver Hart of Harvard start with the proposition that company managers and boards do indeed have a fiduciary duty to shareholders, but their duty is to maximize the shareholders’ overall welfare, which includes things other than the value of their shares.
Uber CEOs and Shareholder Welfare
July 31, 2017 | Bloomberg
Or perhaps the shareholders do own the corporation, but its job is not to maximize their wealth. What would its job be, then? Oliver Hart of Harvard and Luigi Zingales of the University of Chicago answer: "Companies Should Maximize Shareholder Welfare Not Market Value."
Leadership Race Heats Up at Bank of Italy Draghi Once Headed
July 30, 2017 | Bloomberg
The central-bank chief must be “able to successfully deal with Italy’s banking crisis, which isn’t over yet,” said Luigi Zingales, a professor at the University of Chicago Booth School of Business, who himself has been mentioned as a possible choice by Rome’s la Repubblica newspaper.
This Isn't Quite The Refutation Of Friedman's Shareholder Value Concept Some Seem To Think
July 29, 2017 | Forbes
In a new Stigler Center paper, Harvard Professor and Nobel laureate Oliver Hart and University of Chicago Booth School of Business Professor Luigi Zingales (Faculty Director of the Stigler Center and one of the editors of this blog) take a novel perspective to this question. While agreeing with Friedman’s premise that managers should care only about shareholders’ interest, Hart and Zingales reject the view that shareholders only care about money.
The Common Mistake That's Making Your Vacations Feel Shorter
July 29, 2017 | Travel and Leisure
For positive experiences, consumers are reluctant to eliminate categories, while the opposite is true for negative experiences because eliminating categories makes it feel like more of the experience has passed,” write authors Anuj K. Shah (University of Chicago Booth School of Business) and Adam L. Alter (New York University).
Consider the 3 C’s of Fit When Choosing a B-School
July 29, 2017 | Beat the GMAT
For example, the University of Chicago’s Booth School of Business offers a flexible curriculum that allows students to choose which courses to take and when based on their experience and career goals.
Goolsbee Says Bannon Tax Plan Sounds Like Window Dressing
July 28, 2017 | Bloomberg
Austan Goolsbee,economics professor at the University of Chicago Booth School, discusses the prospects for U.S. tax reform with Bloomberg's Julia Chatterley and Scarlet Fu on "Bloomberg Markets."
'The Whole Financial Planning Process Is Wrong,' Expert Says
July 28, 2017 | Forbes
University of Chicago behavioral economics professor Richard Thaler told me plainly that we’re not doing our job if we don’t know this stuff, and I believe the CFP® Board can do a lot to enhance their requisite training in this arena.
Need to increase population and productivity to get to 3%
July 21, 2017 | CNBC
Austan Goolsbee, Booth School of Business, and Ryan Streeter, American Enterprise Institute, provide perspective on what it takes to accelerate economic growth.
Should America’s Tech Giants Be Broken Up?
July 20, 2017 | Bloomberg Magazine
Luigi Zingales, director of the university’s Stigler Center, likes to remind people that the reason Google and Facebook were able to succeed is that the U.S. in 1998, under Bill Clinton, sued Microsoft Corp. for tying its web browser to its Windows operating system to undermine rival Netscape.
Is Guaranteed Income for All the Answer to Joblessness and Poverty?
July 18, 2017 | Scientific American
One such scenario is described in the following survey question, submitted in June 2016 to a panel of economists by the University of Chicago’s Booth School of Business: “Granting every American citizen over 21 years old a universal basic income of $13,000 a year—financed by eliminating all transfer programs (including Social Security, Medicare, Medicaid, housing subsidies, household welfare payments and farm and corporate subsidies)—would be a better policy than the status quo.” Only 2 percent of survey respondents agreed whereas 43 percent disagreed and 17 percent strongly disagreed.
Americans Are Choosing Paid Jobs Over Family Caregiving
July 18, 2017 | Bloomberg
The thing is, it doesn't seem to matter all that much for consumer spending, according to an analysis by economists including Amir Sufi and Atif Mian.
Trump administration unveils goals in renegotiating NAFTA
July 17, 2017 | The Washington Post
In a 2012 survey of 41 prominent economists by the University of Chicago, 85 percent agreed that Americans were better off under NAFTA than under previous trade rules. Only 5 percent said they were uncertain, and none disagreed.
Now we can measure economic policy uncertainty
July 12, 2017 | Marketplace
Scott Baker from the Kellogg School of Management at Northwestern University developed the index along with Nicholas Bloom at Stanford University and Steven Davis at the University of Chicago.
A tale of central banks and governors
July 12, 2017 | The Nation
Raghuram Rajan, a world-renowned economist (ex-chief economist of the IMF) with global authority through lectures (in leading institutions like Chicago’s Booth School, Princeton, etc.) and numerous prestigious publications on capital and monetary management, entrepreneurial innovation and on the role of a responsible government, was selected 4 years back.
Young men are working a lot less. It’s not just because of video games
July 12, 2017 | Quartz
The researchers—Kerwin Kofi Charles and Erik Hurst of the University of Chicago, Mark Aguiar of Princeton, and Mark Bils of the University of Rochester—start with the observation that the hours worked by young men aged 21 to 30 have fallen 12% from their peak in 2000 to 2015. For older men aged 31 to 55, the fall in hours worked was 8% over the same period.
U.S. Schools With The Most International Students
July 10, 2017 | Poets & Quants
The University of Chicago’s Booth School of Business, for example, has about 414 international students (34.9% of total full-time enrollment), while Columbia Business School has 372 (48%), Duke University’s Fuqua School of Business has 343 (38.3%), Harvard Business School has 331 (35%), MIT’s Sloan School of Management has 312 (38.6%), both Yale University School of Management (36.9%) and the University of Michigan’s Ross School of Business (32%) have 256, and UCLA’s Anderson School of Management has 230 (31.3%).
How Yale SOM Crashed The M7 Party
July 10, 2017 | Poets & Quants
It’s a sign of the times. The top three undergraduate universities have long been known by the shorthand HYP (Harvard, Yale and Princeton), while the top three business schools have gone by the acronym HSW, obviously meaning Harvard, Stanford, and Wharton. In recent years, the University of Chicago’s Booth School of Business has come on so strong that many think the W has fallen off the acronym.
Don’t feel guilty about your to-do list this weekend—research shows play before work is just as much fun.
July 8, 2017 | Quartz
New research from the University of Chicago Booth School of Business suggests that may not be the case. Researchers found that while people expect to enjoy fun activities more if they’ve completed work first, play before work is in fact just as fun as its opposite.
It’s the Little Things That Can Color an Investor’s Outlook
July 7, 2017 | The Wall Street Journal
Does this sound far-fetched? More often than any of us care to admit, investors’ behavior is shaped by what Richard Thaler, an economist at the University of Chicago Booth School of Business, calls SIFs, “supposedly irrelevant factors” rooted in mood and emotion.
A Study Encourages You to Have Fun First and Finish Your Work Later
July 7, 2017 | New York Magazine
Fun stuff is just as fun even if you haven’t “earned” it. Ed O’Brien, a professor at the Chicago Booth School of Business, co-authored this new study, published in Psychological Science, and he wrote about his work this week for Harvard Business Review.
The unexpected economic consequences of video games
July 7, 2017 | Vox
“There has been a lot of research on how technology affects labor demand, how robots are displacing workers,” said Erik Hurst, an economist from the University of Chicago who was one of the researchers involved in the study, which was published Monday. “But no one had really looked at the effect of technology on someone’s willingness to work.”
As young men work less, are video games to blame?
July 7, 2017 | CBS News
"When we look in the data, you see for young men this huge shift in time spent toward computer activities," which is primarily due to computer games, said Erik Hurst, a professor of economics at the University of Chicago Booth School of Business and one of the authors of the paper, published at the National Bureau of Economic Research. "Time changes are usually more gradual, and the heart of the paper is trying to disentangle why this change occurred."
Fantasy gaming beats having a job
July 7, 2017 | Financial Times
This week, four economists — Mark Aguiar, Mark Bils, Kerwin Kofi Charles and Erik Hurst — published their latest research paper studying the impact of awesome computer games on the US job market.
America's Priciest National Pastime
July 3, 2017 | U.S. News and World Report
In fact, there are few policy topics on which economists agree more – only one out of 35 of the top economists polled by the University of Chicago Booth School of Business believes that the benefits of sports subsidies outweigh their costs to taxpayers.
A Way to Own Your Social-Media Data
June 30, 2017 | The New York Times
For a 21st-century problem, we suggest a 21st-century solution: a reallocation of property rights via legislation to provide more incentives to compete.
Must We Delay Gratification? Maybe Not
June 21, 2017 | Psychology Today
In the new study, published this week in Psychological Science, Ed O’Brien, a social psychologist at the University of Chicago Booth School of Business, set up a series of experiments with a colleague to test whether delaying gratification pays off the way we expect.
It's Time Ontario Courts Truly Rid Spousal Support Of Gender Bias
June 21, 2017 | Huffington Post
In 2013, the University of Chicago Booth School of Business published a paper that looked at 4,000 married couples in America. It found that once a woman started to earn more than her husband, divorce rates increased.
Trump Move on Job Training Brings ‘Skills Gap’ Debate to the Fore
June 15, 2017 | The New York Times
Steven J. Davis, an economist at the University of Chicago, helped create an index showing that the average time it takes to fill a job is the longest since January 2001.
Are Democrats Really Better For The Market?
June 7, 2017 | Financial Advisor Magazine
The Research Affiliates’ study doesn’t disprove the impact of politics on the U.S. market, according to Pietro Veronesi at the University of Chicago Booth School of Business. Veronesi, with his colleague Lubos Pastor, have posited that investors demand higher equity risk premiums in the U.S. under Democratic presidents, due in part to expectations of higher tax rates.
10 MBA Programs With the Highest Signing Bonuses
June 6, 2017 | U.S. News & World Report
Chicago Booth ranks 3rd.
The powerful interests fighting tax simplification
June 5, 2017 | Marketplace
"When you're doing your taxes, you're just the IRS' lowest-paid employee," said Austan Goolsbee, a professor of economics at the University of Chicago and former chairman of Obama's Council of Economic Advisers. "All you’re doing is typing in information they already have."
Why Investors Shouldn’t Give Up on Momentum Investing
June 4, 2017 | The Wall Street Journal
According to data compiled by Eugene Fama, a finance professor at the University of Chicago Booth School of Business, and Kenneth French, a finance professor at Dartmouth College’s Tuck School of Business, the decile of stocks with the highest momentum beat the S&P 500 by just 1.3 percentage points over the 10 years through March 31 of this year (before transaction costs).
Sears retirees fear demise of store they loved
June 2, 2017 | Chicago Tribune
"It was a great business until the people at the top decided that strategy didn't matter for them and that they would forever be able to play the same game and win," said James Schrager, clinical professor of entrepreneurship and strategy at the University of Chicago's Booth School of Business.
Former 'climate bad boy' China may benefit as US leaves Paris deal
June 1, 2017 | CNBC
Indeed, low natural gas prices are expected to support further U.S. emissions reductions, noted Randy Kroszner, economics professor at the University of Chicago and former Federal Reserve Governor. In fact, he added, Beijing is the one most in need of reform: "The key for world climate change is China."
When It Comes To Financial Planning, Should You Be Active Or Passive?
May 30, 2017 | Forbes
Research done by Professors Eugene Fama at the University of Chicago and Kenneth French at the Tuck School of Business at Dartmouth College have presented findings that suggest strong returns of actively managed mutual funds is more due to luck and not skill. If Fama and French are correct, your investments is not the place to be active.
Why Regime Uncertainty Will Eventually Sink Trump and the Markets
May 29, 2017 | Forbes
Thanks to Scott R. Baker of Northwestern University, Nicholas Bloom of Stanford University and Steven J. Davis of the University of Chicago, we have a measure or proxy for Higgs’s regime uncertainty.
In Good Company: Ex-IMF chief economist Raghuram Rajan, the man who foresaw 2008 financial crisis
May 28, 2017 | Strait Times
Among the speakers that year was Dr Raghuram Rajan, the chief economist of the International Monetary Fund who was given the job two years earlier at age 40. It was meant to be a celebration of the Greenspan era but what the audience, which included Mr Greenspan, heard from Dr Rajan was a prognosis of dire tidings to come.
Top economist warns of 'explosion in leverage'
May 27, 2017 | Strait Times
The AMPF, held at the Shangri-La Hotel, is co-organised by the University of Chicago Booth School of Business, the National University of Singapore Business School and the Monetary Authority of Singapore.
Split Decision: The Pros and Cons of Splitting Shares
May 26, 2017 | The Wall Street Journal
“I used to go around asking CFOs why they had split their stock, and their tried-and-true answer was usually that investors expected them to be in some range,” said economist Richard Thaler of the University of Chicago Booth School of Business, who co-authored an academic paper on stock splits with Mr. Weld in 2009. Mr. Thaler isn’t convinced: “That never made sense to me.”
RBI ex-chief Rajan: In a post-crisis world, this is where the new economic risks are
May 26, 2017 | CNBC
"Banks are in a much safer place than they were. The problem is the overall level of risk in the economy hasn't diminished considerably. If you make the banks safer, it has to go somewhere else," said Rajan, who is currently a professor of finance at the University of Chicago Booth School of Business.
Tech Insiders Call Out Facebook for Literally Manipulating Your Brain
May 25, 2017 | NPR
She pointed to the plummeting employment rate of young men as one macro-development related to iGen, and cited the work of University of Chicago economist Erik Hurst. Last year, in a university profile, Hurst discussed his research on the dwindling percentage of young males without a college degree in the labor force and this trend’s connection to leisure-time technology.
Trump's Budget Has 'Savagery to It,' Says Goolsbee
May 23, 2017 | Bloomberg
University of Chicago Booth School Professor Austan Goolsbee, former chairman of President's Council of Economic Advisors under President Barack Obama, discusses President Donald Trump's 2018 budget.
Booth alum donates $20M to University of Chicago social innovation center
May 22, 2017 | Chicago Tribune
Indonesian entrepreneur Tandean Rustandy, who earned an MBA from the University of Chicago's Booth School of Business in 2007, has donated $20 million to the school's social innovation center.
Zingales Says A Lot of People Left Out of U.K. Growth
May 19, 2017 | Bloomberg
Luigi Zingales, professor at University of Chicago Booth School of Business, discusses Brexit and the Tory Party’s manifesto.
President Trump Is Strongly Committed to NATO, Stoltenberg Says
May 19, 2017 | Bloomberg
Luigi Zingales, a professor at University of Chicago’s Booth School of Business, says Republicans have been missing in action in keeping Trump in check.
Silicon Valley has too much power
May 15, 2017 | Financial Times
But as University of Chicago Booth School professor Luigi Zingales, who recently organised a conference around corporate power and its dampening effect on the economy, points out: “It’s not that we don’t pay for digital services — we do pay dearly, with our data, and our attention.”
Trump’s worst lie about ‘priming the pump’ isn’t that he made up the
May 13, 2017 | Washington Post
In fact, in a recent paper, University of Chicago Booth School of Business economics professor Owen Zidar looked at changes to the tax code over the postwar period, with an eye toward comparing the economic effects of tax cuts felt by the rich vs. the poor. He found that the relationship between tax cuts and job growth is primarily driven by cuts for lower-income groups and that the economic effects of tax cuts for the top 10 percent are tiny.
CNN’s Stephen Moore accidentally confirms Trump was lying about commitment to protect Medicaid
May 13, 2017 | Salon
During the May 8 edition of CNN Newsroom, Moore — CNN’s “senior economics analyst” — was joined by University of Chicago economist Austan Goolsbee to discuss the merits of billionaire businessman and philanthropist Warren Buffett’s argument that the Trump health care agenda amounts to little more than a tax cut for the rich funded by cuts to health care subsidies for low-income Americans.
Treasury's Mnuchin Said to Push Volcker Rule Review
May 12, 2017 | Bloomberg
University of Chicago Booth School of Business Professor Randy Kroszner discusses what’s good and bad in the Volcker Rule as Treasury Secretary Steven Mnuchin is said to have begun a review of the rule.
Here’s what flight crews — and passengers — can learn from United dragging and viral airline incidents that followed
May 10, 2017 | New York Daily News
John Paul Rollert, an adjunct professor at the University of Chicago’s Booth School of Business and author of a blistering takedown of Spirit Airlines, says the ease of filming such interactions means airlines “have to get used to the fact that people are watching at all times.”
'All the Men Here Are Either on Drugs or Unemployed'
May 9, 2017 | The Atlantic
“There is no doubt that men are working much less during the 2000s, and it doesn’t look like it’s a cyclical pattern as much as it is structural,” said Erik Hurst, an economist at the University of Chicago’s Booth School of Business.
House Republicans struggle with costs of tax overhaul
May 8, 2017 | The Washington Post
Out of 42 top economists surveyed by the Initiative on Global Markets at the University of Chicago Booth School of Business, 37 said Trump’s proposal would not pay for itself through added growth. The other five did not answer the question.
35 of 37 economists said Trump was wrong. The other two misread the question.
May 8, 2017 | The Washington Post
The University of Chicago's Booth School of Business regularly polls economists on controversial questions. In a survey the school published last week on Trump's tax plans, only two out of the 37 economists that responded said that the cuts would stimulate the economy enough to cancel out the effect on total tax revenue.
Those two economists now both say they made a mistake, and that they misunderstood the question.
Survey: Just 5 percent of economists believe Trump’s big tax promise
May 4, 2017 | The Washington Post
The figures were published Tuesday by Chicago's Initiative on Global Markets, which regularly polls a panel of prominent economists for their opinions on issues in the news.
How uncertain Trump policy affects Fed decision making
May 3, 2017 | CNBC
Former Fed governor Randy Kroszner says the uncertainty has not bothered the stock markets so the Fed may have a similarly positive view about U.S. growth.
Why You Can Never Find a Dinner Reservation for 7 P.M. Online
May 2, 2017 | Bloomberg
One of the people that I like talking to is Richard Thaler, who is a behavioral economist. The way that people think they behave and the way they actually behave are often two different things.
Why Trump's obsession with trade deficits is misguided
May 2, 2017 | Los Angeles Times
“We have to focus on upgrading skills of American workers,” said Raghuram Rajan, a University of Chicago professor and former governor of India’s central bank. A lot of the new jobs, he added, are in the service industry, but getting them into rural areas and smaller communities is a big challenge. “These are important questions that the administration has to ask.”
Trump’s Trade Warrior Is the Most Unpopular Economist in the Class
May 2, 2017 | Bloomberg
In 2012, 95 percent of leading economists surveyed by the University of Chicago Booth School of Business agreed with the following statement: “Freer trade improves productive efficiency and offers consumers better choices, and in the long run these gains are much larger than any effects on employment.”
Idleness makes people unhappy, yet they need a justification to be busy
May 1, 2017 | Live Mint
That is because working towards a comfortable retirement maybe a mere justification for keeping busy. Chicago Booth professor Christopher Hsee says that an important reason people engage in activities is that they dislike being idle.
How to Trick People Into Saving Money
May 2017 | The Atlantic
Richard Thaler, an economist at the University of Chicago and one of the field’s pioneers, told The Wall Street Journal in 2015 that saving for retirement is “a prototypical behavioral-economics problem” because it is “cognitively hard—figuring out how much to save—and requires self-control.”
The best grad schools 2018, from U.S. News & World Report
April/May 2017 | 1843 Magazine
What these individuals are not doing is clear enough, says Erik Hurst, an economist at the University of Chicago, who has been studying the phenomenon.
Give the poor a tax cut
April 30, 2017 | Money Week
That’s a shame because, as a new study shows, cutting taxes on the poor is a good way to boost economic growth. Owen Zidar, an assistant professor of economics at the University of Chicago Booth School of Business, looked at tax cuts in the US for the postwar period, then at their impact on different states. He found that a lot more jobs were generated in the poorer states for each tax cut than in the richer ones.
U.S. Economy Grows At Weakest Rate In Past 3 Years
April 28, 2017 | NPR
RANDALL KROSZNER: The U.S. economy is an enormous, massive thing, and to try to get all the numbers together really quickly is pretty tough.
Risky draft move: Seahawks’ trades out of 1st round put brain trust in the heat
April 28, 2017 | Seattle Times
The Seahawks even have an academic validation for their MO. In his 2016 book “Misbehaving,” University of Chicago economist Richard H. Thaler argues that teams should always trade out of the first round for multiple picks in the second or later rounds.
TRUMP’S TAX CUTS IGNORE HISTORY AND ARITHMETIC TO MAKE THE RICH RICHER
April 27, 2017 | Newsweek
In fact, in a 1999 analysis of six tax changes since 1922, University of Chicago economist Austan Goolsbee found that it was quite unlikely the government would raise more revenue that would offset increasing deficits by cutting marginal tax rates below where they are now.
Global economy: Spring breaks through the political storm
April 21, 2017 | Financial Times
“What is different this time is that all the engines are firing for the first time,” says Raghuram Rajan, a former Indian central bank governor and IMF chief economist. “They are not firing very strongly. But they are firing.”
Wall Street to Millennials: Don't fear the stock market
April 17, 2017 | USA Today
“I don’t think there is any reason to believe Millennials are more risk averse than other (generational) cohorts,” says Richard Thaler, a professor at the University of Chicago’s Booth School of Business.
How Not to Feel Lonely: 50 Science-Backed Tips Everyone Should Read
April 24, 2017 | Readers Digest
"It's easy to imagine all the ways things will go badly or believe that this person doesn't want to connect," Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business told the New York Times. But if you reach out, he continued, "almost everybody reaches back."
If The MBA Admissions Office Applied To Business School: Chicago Booth
April 21, 2017 | Forbes
The distinct Booth experience is something that the school’s Associate Dean for Student Recruitment and Admissions, Kurt Ahlm is keenly aware of as he and his team put together the application each year
Millennial women are 'worried,' 'ashamed' of out-earning boyfriends and husbands
April 18, 2017 | CNBC
She summarized University of Chicago Booth School of Business findings for NPR, saying that, in their sample, dissatisfaction increased, and could lead to divorce, "once a woman started to earn more than her husband."
AUSTAN GOOLSBEE - THE REALITY OF A TRUMP ECONOMY - EXTENDED INTERVIEW
April 17, 2017 | Daily Show
Former Obama administration economist Austan Goolsbee weighs in on how President Trump's budget affects the economy and talks about the U.S.'s changing workforce.
Where Wall Street Gets Its Finance MBAs
April 17, 2017 | Poets & Quants
Now it’s putting some distance between it and the next biggest finance factory: In 2016 the second-most finance MBAs came not from the Northeast but the Midwest, the University of Chicago’s Booth School of Business, which moved up to 35.0% from 34.8% in 2015.
Tax Cuts Don't Work the Way Free Marketers Expect
April 17, 2017 | Bloomberg
A recent paper by the University of Chicago Booth School of Business professor Owen Zidar demonstrates the differences between cutting taxes for the well-off and cutting them for those of modest means.
Why You Trust Email Way More Than You Should
April 17, 2017 | New York Magazine
Nicholas Epley, a psychologist at the University of Chicago’s Booth School of Business, thinks many people see email as a less anxiety-inducing form of talking.
The University of Chicago worries about a lack of competition
April 12, 2017 | The Economist
ONE sign that monopolies are a problem in America is that the University of Chicago has just held a summit on the threat that they may pose to the world’s biggest economy.
United Isn’t Alone in Treating Its Passengers Like Garbage
April 12, 2017 | Fortune
Commentary by John Paul Rollert. United has now offered Dao a sincere apology—Munoz said Wednesday morning that he felt “shame” over the incident—and one suspects they will soon be offering him a lot of money too. He deserves it. He deserved better. The rest of us do too.
Biased bots: Human prejudices sneak into artificial intelligence systems
April 12, 2017 | PhysOrg
Another objectionable example harkens back to a well-known 2004 paper by Marianne Bertrand of the University of Chicago Booth School of Business and Sendhil Mullainathan of Harvard University. The economists sent out close to 5,000 identical resumes to 1,300 job advertisements, changing only the applicants' names to be either traditionally European American or African American.
Is U.S. Tax Reform in 2017 Plausible?
April 12, 2017 | Bloomberg
Austan Goolsbee, economics professor at University of Chicago, and Douglas Holtz-Eakin, president of American Action Forum, discuss the difficulty of trying to get tax reform in the U.S.
Economists Pen Immigration Letter to Trump and Congress
April 12, 2017 | Bloomberg/Yahoo!
Austan Goolsbee, economics professor at University of Chicago, and Douglas Holtz-Eakin, president of American Action Forum, discuss a letter penned by multiple economist to politicians about the merits of immigration for the U.S.
The rise of ETFs may be a cause of record-low volatility
April 10, 2017 | CNBC
"If there is excess volatility due to non-fundamental reasons, eliminating it will result in lower volatility and more efficient markets," Stefano Giglio, associate professor of finance at the University of Chicago's Booth School at Business, wrote to CNBC on Monday.
The Fundamental Problems of the Financial Crisis Are Still with Us
April 7, 2017 | Finanz und Wirtschaft
Raghuram Rajan, Professor of Finance at the University of Chicago and former governor of the Reserve Bank of India, warns of more turmoil ahead if the developed world fails to adapt to the fundamental forces of global change.
Nobel Laureate Eugene Fama: Markets are efficient, regulation is the problem
April 7, 2017 | TREND Magazine
Eugene Fama is a living legend of modern finance theory. He has been teaching at the University of Chicago Booth School of Business for over 50 years, having earned tenure at the age of 26. He has worked alongside celebrity professors such as Friedrich von Hayek, Milton Friedman, Ronald Coase, and Gary Becker.
Happy Meals and Glass-Steagall
April 6, 2017 | Bloomberg
The short answer is: rarely. Research by University of Illinois’s Petro Lisowsky and Chicago Booth’s Michael Minnis demonstrates that almost two-thirds of medium-to-larger private companies choose not to produce audited GAAP statements.
Mental Pitfalls That Thwart Making Smart Financial Decisions
April 6, 2017 | Forbes
I first heard the noted American economist and author Dr. Richard Thaler give a speech about something called “behavioral finance” over 20 years ago. It was my introduction to a new field of research in economics.
Accounting cops have tough task of cracking down on corporate fraud
April 6, 2017 | Chicago Tribune
Even with new anti-corruption regulations, it's estimated that one out of seven firms suffers from ongoing fraud, according to an August 2014 research paper co-written by Luigi Zingales, a professor at the University of Chicago. (Experts from the University of Toronto and University of California at Berkeley also contributed).
10 things you need to know today
April 6, 2017 | Business Insider
New analysis from Poets and Quants shows that graduates from elite MBA programs are being heavily recruited by tech firms. For instance, over the past five years, Amazon has hired 445 MBA grads from Chicago, Northwestern, MIT, Columbia, Michigan, and Duke.
Try mental accounting to make your retirement dreams come true
April 5, 2017 | USA Today
“Mental accounting is essentially the household equivalent of financial accounting, but it is often done without conscious thought,” says Richard Thaler, a professor at the University of Chicago Booth School of Business and author of Misbehaving: The Making of Behavioral Economics.
The Busy Trap: How Keeping Busy Became a Status Symbol
April 3, 2017 | NBC News
"People dread idleness, and their professed reasons for activity may be mere justifications for keeping busy," University of Chicago professor of behavioral science and marketing Christopher Hsee observed.
Uber's Behavioral Experiment On Drivers May Raise Ethical Questions, But It Is Hardly Unique
April 3, 2017 | Forbes
These aren’t totally uncharted waters. The University of Chicago’s Richard Thaler, one of the world’s leading behavioral economists, has suggested in the past where the line between incentivizing and manipulating lies.
If you talk to your pets, you're not an oddball - it's a sign of intelligence
April 3, 2017 | Metro
Dr Nicholas Epley, a professor of behavioral science at the University of Chicago told Quartz, "Historically, anthropomorphising has been treated as a sign of childishness or stupidity, but it's actually a natural byproduct of the tendency that makes humans uniquely smart on this planet.
Talking to your pets is a sign of intelligence, science reveals
April 3, 2017 | Country Living UK/Yahoo!/Cosmopolitan/Redbook
"Historically, anthropomorphising has been treated as a sign of childishness or stupidity, but it's actually a natural byproduct of the tendency that makes humans uniquely smart on this planet," Dr Nicholas Epley, a professor of behavioral science at the University of Chicago said.
People who talk to pets, plants, and cars are actually totally normal, according to science
March 31, 2017 | Quartz
“Historically, anthropomorphizing has been treated as a sign of childishness or stupidity, but it’s actually a natural byproduct of the tendency that makes humans uniquely smart on this planet,” says Nicholas Epley, a professor of behavioral science at the University of Chicago.
Who's a clever boy! Talking to your pets (and even your car) is a sign of social intelligence, scientists say
March 31, 2017 | Daily Mail
Nicholas Epley, a professor of behavioral science at the University of Chicago and an anthropomorphism expert, told Quartz: 'Historically, anthropomorphizing has been treated as a sign of childishness or stupidity, but it’s actually a natural byproduct of the tendency that makes humans uniquely smart on this planet'.
The Quiet Bear Market in Bonds
March 21, 2017 | Bloomberg
Eugene Fama, the University of Chicago finance professor, proved the “expectations theory” in his groundbreaking research on spot and forward rates.
Better Video Games Could Be Driving Young Men Out of The Workforce
March 20, 2017 | Big Think
Despite the uncertainty, they actually report being happier than they were 15 years ago. So what’s making them content to stay out of work? Better video games, says Erik Hurst, an economist at the University of Chicago who co-authored a study on this shift in the labor supply:
Women on Wall St. punished more severely than men for misdeeds
March 14, 2017 | CNBC
Women "walk a tightrope" in financial advisor jobs, where their bosses have less tolerance for missteps, said co-author Gregor Matvos of the University of Chicago.
3 Things Entrepreneurs Really Don't Need to Worry About at Work
March 14, 2017 | Inc.
Writing in the New York Times recently, Ayelet Fisbach, a professor at University of Chicago's Booth School of Business, notes: "People send résumés and go to interviews thinking that they care only about salaries and promotions."
The best grad schools 2018, from U.S. News & World Report
March 14, 2017 | US News & World Report
In the full-time MBA rankings,the Wharton School at the University of Pennsylvania moves up three places to tie with Harvard University at No. 1. The Booth School of Business at the University of Chicago follows at No. 3, while Stanford University, the Sloan School of Business at the Massachusetts Institute of Technology and the Kellogg School of Management at Northwestern University tie at No. 4.
University of Chicago Among U.S. News & World Report's 2018 Best Graduate Schools
March 14, 2017 | NBC
The University of Chicago's Booth School of Business ranked third in the business category of U.S. News & World Report's new list of the best graduate schools for 2018.
Wells Fargo 25% More Likely to Punish Women Employees than Men, Study Says
March 14, 2017 | Fortune Magazine
The study was conducted by finance professors Mark Egan of the University of Minnesota Carlson School of Management, Gregor Matvos of the University of Chicago Booth School of Business, and Amit Seru of Stanford Graduate School of Business.
The Best Executive MBA Programs Around The Globe That Will Grow Your Career
March 13, 2017 | Forbes
Kellogg’s Executive MBA program (#2), and Chicago Booth’s Executive MBA program (#3) maintained their positions in the global rankings, while also dominating the top spots in the Midwest regional ranking.
Haas Tops U.S. News’ Part-Time MBAs
March 13, 2017 | Poets & Quants
Most importantly for the U.S. News ranking, Berkeley Haas retained its high peer assessment score of 4.5 out of 5. That score, calculated from a fall 2016 survey that asked B-school deans and MBA program directors at 360 part-time MBA programs to rate the other part-time programs, accounts for 50% of the total measure of each school. Only Chicago Booth, at 4.7, received a higher score than Haas.
New dean at U. of C.'s Booth School of Business: Stanford's Madhav Rajan
March 8, 2017 | Chicago Tribune
The University of Chicago's Booth School of Business has named a new dean, Stanford accounting scholar Madhav Rajan.
U of C's Booth appoints Madhav Rajan as dean
March 8, 2017 | Crain's Chicago Business
University of Chicago's Booth School of Business is turning again to Stanford University, picking a business school faculty member—and another native of India—to be its next dean.
Stanford’s Rajan Named Dean Of Chicago Booth
March 8, 2017 | Poets & Quants
When the University of Chicago’s Booth School of Business last needed a dean, it turned to Stanford University’s Graduate School of Business for one. Today (March 8), it went back to the GSB well and fished out yet another Stanford super star, Madhav V. Rajan, the school’s former senior associate dean for academic affairs.
The 19 most prestigious and powerful business degrees in the world in 2017
March 8, 2017 | Business Insider
T=17. University of Chicago — Climbing two places from its ranking of 19th in 2017, Chicago's business school has produced famous alumni including the founder of Oracle Larry Ellison.
The debate over the Affordable Care Act is really a debate over wealth
March 7, 2017 | Business Insider
By contrast, “the Republican plan, as outlined right now, really is centrally about income redistribution, of the reverse Robin Hood variety,” said Austan Goolsbee, a University of Chicago economics professor who was chairman of Obama’s Council of Economic Advisers.
Three Ways to Value Gold. Three Conclusions.
March 7, 2017 | The Wall Street Journal
Then three economics and finance professors—Scott Baker of Northwestern University, Nick Bloom of Stanford University and Steven Davis of the University of Chicago—created a series of Economic Policy Uncertainty, or EPU, indexes. And sure enough, according to Prof. Harvey, gold shows a modest historical correlation with the global version of the EPU.
Goolsbee: Hope inflation won't be the story of 2017
March 6, 2017 | CNBC
Discussing the inflation story in the U.S. as Trump economic policies take shape, with Austan Goolsbee, University of Chicago Booth School of Business economics professor
TRUMP’S MYSTERIOUS STOCK BOOM
March 6, 2017 | The New Yorker
Indeed, for all the business complaints about Obama’s actions during the Great Recession, work by the economists Atif Mian and Amir Sufi indicates that uncertainty about his policies had a trivial impact.
Here’s When You Should (And Shouldn’t) Ignore Other People’s Feedback
March 2, 2017 | Fast Company
“You need positive feedback if you’re unsure about your task commitment,” says University of Chicago behavioral scientist Ayelet Fishbach, “that is, if you think the task might be too challenging for you. You also need positive feedback if you’re a novice and have only recently started working on the task.”
Why Happy Marriages And Relationships Are Key To Healthy And Positive Aging
February 28, 2017 | The Huffington Post
William J. Chopik from Michigan State University and Ed O’Brien from University of Chicago wanted to know if just living with a happy person could also affect a person’s health in a positive way.
Long lives mean endless demand for coaching
February 27, 2017 | Financial Times
Chris Lecatsas-Lyus, director of career management for Chicago Booth in Europe, is a psychotherapist and career coach. Alongside colleagues in Chicago and Hong Kong, she offers coaching to alumni facing career dilemmas at the business school’s three global campuses and for any age up to retirement — even beyond, in some cases.
Austan Goolsbee on Jobs: I Hope Trump Succeeds in Extending the Lead Obama Created
February 27, 2017 | FOX
Former Chairman of the Council of Economic Advisors and University of Chicago Booth School of Business’ Austan Goolsbee discussed the potential U.S. market and economic outlook under President Trump.
WHY EVER STOP PLAYING VIDEO GAMES
February 22, 2017 | New York Magazine
In June, Erik Hurst, a professor at the University of Chicago’s Booth School of Business, delivered a graduation address and later wrote an essay in which he publicized statistics showing that, compared with the beginning of the millennium, working-class men in their 20s were on average working four hours less per week and playing video games for three hours.
Policy making in India is like driving at 60 miles an hour on the highway: Raghuram Rajan
February 22, 2017 | Economic Times
During his stint as the Reserve Bank of India governor, Raghuram Rajan often found himself in the headlines. But after stepping down from the role and returning to academic life, he has judiciously stayed away from the media.
After April’s March for Science, what next for anti-Trump scientists?
February 22, 2017 | The Guardian
Writing on Italy’s experiences with Silvio Berlusconi, Luigi Zingales of the University of Chicago, argues that it is important to take the Trump Administration’s policy proposals seriously and to engage them substantively if they are to be effectively opposed or shaped.
I’ll Have What She’s Having: Shared Plates, Experiences Can Lead to Love
February 14, 2017 | WTTW
Ayelet Fishbach, University of Chicago Jeffrey Breckenridge Keller professor of behavioral science and marketing, joins us to talk about how applying a few principles learned from behavioral research can improve our relationships – romantic and otherwise.
Guess who inspired Raghuram Rajan to become an economist?
February 14, 2017 | The Economic Times
When Raghuram Rajan stepped down as the Reserve Bank of India’s governor in September last year, he left a gift for his successor — the gift of silence, to allow the new governor time and space to give voice to his ideas.
Why Falling Home Prices Could Be a Good Thing
February 10, 2017 | The New York Times
According to a recent paper by the economists Chang-Tai Hsieh, from the University of Chicago’s Booth School of Business, and Enrico Moretti, from the University of California, Berkeley, local land-use regulations reduce the United States’ economic output by as much as $1.5 trillion a year, or about 10 percent lower than it could be.
Why Eating The Same Food Increases People's Trust And Cooperation
February 2, 2017 | NPR
When you eat together, one thing that happens is that you're usually eating the same food as the other person. I was talking to Ayelet Fishbach at the University of Chicago. She told me that food has symbolic meaning all around the world.
Dashed Expectations Power White Anger
February 1, 2017 | NPR
To see why, take a look at the Financial Trust Index. A University of Chicago Booth School of Business team, headed by Paola Sapienza and Luigi Zingales, tracks how much people trust various economic entities -- banks, the stock market, mutual funds and large corporations.
Chicago Booth Professors Discuss Top Economic Challenges Facing the New President
January 31, 2017 | The Huffington Post
Early this year, University of Chicago Booth School of Business professors Amir Sufi, Marianne Bertrand, and Randall S. Kroszner convened at the New York Hilton Midtown to talk about the top economic challenges facing Donald Trump, the current President of the United States.
Geopolitical risks are no surprise: Ex-RBI chief Rajan
January 26, 2017 | Asian Review
For Raghuram Rajan, India's former rock star central banker, geopolitical risk is the primary worry in today's world. He ranks it ahead of a possible trade war and rising interest rates as reasons to lose sleep.
Kroszner: Trump to Reform, Not Deregulate Banks
January 26, 2017 | Bloomberg
Randall Kroszner, professor of economics at University of Chicago Booth School of Business, looks at U.S. President Donald Trump's ability to affect change on bank regulations and discusses concerns of a Chinese banking crisis.
Taiwan's sluggish economy 'on the brink of death', says economist
January 24, 2017 | The Straits Times
"The economy is facing a major crisis... it's on the brink of death... and while the economy is growing - slowly - workers' pay is still as stagnant as ever," said University of Chicago economist Hsieh Chang-tai.
Nobody Knows Why Markets Like Trump
January 23, 2017 | Bloomberg
To be sure, a booming stock market and a weak economy are not necessarily mutually exclusive. Investors could simply be expecting policies such as tax reform and deregulation to boost corporate profits, with little regard for the broader effect on growth. At least that's how economists interpreted the market's optimism in a recent poll by the Chicago Booth Business School.
CAN BEHAVIORAL SCIENCE HELP IN FLINT?
January 23, 2017 | The New Yorker
But, for all the field’s potential, its advances seemed mostly to have served the private sector. (And there they often veered toward sly consumer coercion.) A prominent exception was the “nudge,” a notion advanced by the legal scholar Cass R. Sunstein, now at Harvard Law School, and the University of Chicago behavioral economist Richard Thaler, in their 2008 best-seller “Nudge: Improving Decisions About Health, Wealth, and Happiness.”
Why mobile customers are better off under democratic govts
January 21, 2017 | Live Mint
A recent paper by Mara Faccio and Luigi Zingales, professors of finance at Purdue and Chicago universities, shows that government intervention in telecom markets is a common phenomenon in most countries.
For Donald Trump, Challenges Lurk in a Sturdy Economy
January 19, 2017 | The Wall Street Journal
Some economists say such intervention may be savvy politics but make markets less efficient. “We would expect such behavior from a dictator of a banana republic, not from the president-elect of the oldest democracy in the world,” said Luigi Zingales, a finance professor at the University of Chicago Booth School of Business.
How College Football Brings in Big Money for University Research
January 19, 2017 | Chicago Magazine
One of my favorite new data sets that illustrates this is in a recent working paper co-written by the University of Chicago’s Thomas Wollmann, an economist who works at its Booth School of Business. It correlates 40 college football teams’ performance in the AP poll (a weekly measure of how good the teams are compared to others) over 14 years with their colleges’ success in raising research funding (via this great dataviz roundup).
Trump's sponsorship strategy creates a climate of fear
January 19, 2017 | Welt.de
(Translated) Five years ago, Luigi Zingales predicted the victory of Donald Trump. But his colleagues just laughed. How did Zingales, a professor at the prestigious University of Chicago, come up with the idea? Perhaps because he is an economist - he argued that the weak economic growth encouraged the rise of populists.
3 MBA Admissions Trends You Need to Know for 2017
January 19, 2017 | Business Because
In many cases, schools like Harvard Business School are asking only a single MBA essay question. Some schools, like Chicago Booth, have gone even further in setting aside the traditional essay question for an alternate format.
US-China trade war could get ugly pretty fast: Rajan
January 16, 2017 | CNBC
Raghuram Rajan at The University of Chicago Booth School of Business talks about the prospects of a trade war and central bank independence.
Why these economists say the usual explanation for the financial crisis is wrong
January 16, 2017 | The Washington Post
Mian and a colleague, Amir Sufi at the University of Chicago, have argued that banks, confident they had a way to manage the risks, disproportionately increased lending to poor borrowers. To make their monthly payments, these households began skimping on other expenses, slowing the pace of economic activity overall.
Democracy, inclusion and prosperity
January 04, 2017 | Straits Times
Raghuram Rajan shares his insights on democracy, inclusion, and prosperity
Fed Tightening Eases Stimulus Pressure Globally, Rajan Says
January 3, 2017 | Bloomberg
The Federal Reserve’s plan to further withdraw support for the U.S. economy will ease pressure on other major central banks to keep up their own “aggressive” monetary stimulus, former Reserve Bank of India Governor Raghuram Rajan said.
Face time with strangers can boost economy
January 1, 2017 | The Sydney Morning Herald
But research by Nicholas Epley, of the University of Chicago's Booth School of Business, and Juliana Schroeder, of the University of California, Berkeley's Haas School of Business, shows our instincts are wrong.
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