In the News 2020
See below for 2020 media coverage.
December 31, 2020 | Working Nation
“What do we still need to do to ensure that the economy recovery is equitable? Get control of the spread of the virus. That’s number one, number two, and number three,” said Chicago Booth’s Austan Goolsbee.
December 29, 2020 | Business Day
Chicago Booth’s Randall S. Kroszner discusses the role central banks, fiscal policy, and structural reform play in economic recovery from COVID-19.
December 29, 2020 | The New York Times
A recent economics study coauthored by Chicago Booth’s Rebecca Dizon-Ross offers new insight into how to design effective financial rewards programs for college students.
December 23, 2020 | USA Today
Research by Ayelet Fishbach at the University of Chicago Booth School of Business and Oliver Sheldon at Rutgers Business School demonstrates that asking people to reflect on their own bad behavior in the past reduces their willingness to do so again.
December 22, 2020 | VOX EU
A column coauthored by Chicago Booth’s Steven Davis studies how national election cycles in 23 countries influence economic policy uncertainty.
December 22, 2020 | Salon
Chicago Booth’s Austan Goolsee said it was a mistake for the new stimulus package not to include assistance for states, which could force them to raise taxes and cut employment. His colleague Constantine Yannelis said that other countries have institutional advantages for coping with recessions that the U.S. lacks.
December 22, 2020 | Bloomberg Businessweek
Chicago Booth’s Luigi Zingales is more of a proponent of the environmental, social, and governance (ESG) movement than his colleague Eugene Fama, but says its critics should be taken seriously.
December 21, 2020 | Financial Times
The blanket help governments first provided needs to be better targeted, and private expertise needs to be brought in, suggests Raghuram Rajan, a professor of finance at Chicago Booth.
December 20, 2020 | CNN Inside Politics
Austan Goolsbee, Chicago Booth professor and former Obama chief economist, discusses what the relief bill will mean for struggling Americans and the economy in the long run.
December 18, 2020 | Bloomberg Surveillance
Raghuram Rajan, Chicago Booth professor and former Reserve Bank of India governor, warns of massive distress in the corporate sector.
December 18, 2020 | Crain’s Chicago Business
“In this economic climate, even a little bit of increased productivity can be the thing that keeps the doors open,” says Devin Pope, a professor of behavioral science and economics at the University of Chicago Booth School of Business. “Some modest resources might be able to get your company there.”
December 18, 2020 | NBC News
Multiple working academic papers, including one from Chicago Booth’s Jean-Pierre Dubé, have found a correlation between Fox News’ coverage of the pandemic and less stringent adherence to social distancing and COVID-19 safety measures by viewers.
December 18, 2020 | MarketWatch
A working paper coauthored by Chicago Booth’s Constantine Yannelis argues that cancelling student debt would provide the largest monetary benefit to high-income borrowers, while tweaking our current student loan system would better benefit low- and moderate-income borrowers.
December 17, 2020 | The Wall Street Journal
“There are benefits from private equity for society as a whole, and we don’t want to throw that away,” said Chicago Booth’s Steven J. Davis, noting the sector’s role in boosting productivity.
December 17, 2020 | Bloomberg
In a paper titled “Why Working from Home Will Stick,” Chicago Booth’s Steven J. Davis and coauthors forecast that 22% of all full work days in the U.S. will be supplied from home after the pandemic ends, compared with just 5% before.
December 16, 2020 | Yahoo! Finance
Randall Kroszner, deputy dean at Chicago Booth and a former governor of the Federal Reserve, discusses what to expect from the last Fed meeting of 2020, including how the Fed will weigh the vaccine rollout and business restrictions.
December 16, 2020 | Bloomberg Surveillance
Chicago Booth professor and former Federal Reserve governor Randall Kroszner discusses challenges for the Federal Reserve, inflation expectations, and the weakening of the U.S. dollar.
December 14, 2020 | The New York Times
Millions face a steep and immediate drop in spending power when federal jobless benefits end this month, with a sharp rise in the poverty rate. Research from professors including Booth’s Pascal Noel and Erik Hurst, as well as UChicago’s Peter Ganong, sheds light on the issues.
December 14, 2020 | Medscape
The problem, points out Chicago Booth economist Thomas Wollmann, is that dialysis clinics serve a local clientele. Plenty of competition in New York doesn’t tell you anything about the situation in South Dakota.
December 14, 2020 | Reuters
Researchers including professor Steven Davis of Chicago Booth estimate that 22% of all work days will be “supplied from home” after the pandemic, and the pandemic’s “mass social experiment” will cut spending in major city centers as much as 10% on a permanent basis.
December 11, 2020 | South China Morning Post
Professor Zhiguo He from the University of Chicago Booth School of Business says that digital microlenders are making up for a shortfall in traditional credit services for consumers and SMEs.
December 10, 2020 | Financial Times
“I understand what they are trying to do—giving markets more confidence—but I don’t think it will be enough and it is quite likely they will have to come back and do more,” said Randall Kroszner.
December 10, 2020 | Brookings: The Hutchins Roundup
Researchers including Constantine Yannelis of Chicago Booth show that the benefits of universal loan forgiveness disproportionately accrue to high income earners.
December 10, 2020 | CNBC: Squawk Box
It remains to be seen how easily the U.S. will transition from one White House administration to the next, says Austan Goolsbee of the University of Chicago Booth School of Business.
December 9, 2020 | The New York Times
Richard Thaler, a Nobel laureate and professor at Chicago Booth, proposes selling a small proportion of early doses to the rich at a charity auction and rewarding reluctant recipients to accelerate herd immunity.
December 9, 2020 | Crain’s Chicago Business
Chicago Booth’s Mark Tebbe says that despite the pandemic, Chicago remains a great place to launch a business.
December 8, 2020 | The Economist
As businesses adopt new processes and technologies to adapt to the pandemic, research coauthored by Chicago Booth’s Chad Syverson suggests this could lead to a productivity surge later on.
December 8, 2020 | Financial Times
The Stigler Center at the University of Chicago Booth School of Business has just published an e-book, Milton Friedman 50 Years Later, which contains articles on the shareholder-stakeholder debate from experts including Booth’s own Luigi Zingales and Steven Kaplan.
December 7, 2020 | Bloomberg Markets
Raghuram Rajan, a former governor of the Reserve Bank of India and a professor at Chicago Booth, discusses the need for more monetary stimulus as economies grapple with the pandemic and his outlook for the global economy.
December 7, 2020 | The Epoch Times
“Our survey evidence says that 22 percent of all full work days will be supplied from home after the pandemic ends, compared with just 5 percent before,” says a report coauthored by Chicago Booth professor Steven J. Davis.
December 6, 2020 | The Wall Street Journal
The Economic Policy Uncertainty Index, co-created by Chicago Booth’s Steven J. Davis, has retreated somewhat from its spike in April and May, but it remains nearly three times as high as its average over recent decades.
December 5, 2020 | The Guardian
Raghuram Rajan, a professor at Chicago Booth and a former governor of the Reserve Bank of India, is often described as one of the few economists to predict the financial crisis.
December 4, 2020 | Bloomberg
Austan Goolsbee, Chicago Booth professor and former chairman of the Council of Economic Advisers, joins Wall Street Week for a conversation on surging COVID-19 cases, vaccine optimism, and the next steps in further fiscal stimulus. (Interview begins at 26:09.)
December 4, 2020 | µţ˛ą°ů°ů´Ç˛Ô’s
“For individual investors, the best strategy is benign neglect,” said Richard H. Thaler, a professor of behavioral science and economics at Chicago Booth. “Create a sensible long-term portfolio, and then ignore it.”
December 3, 2020 | Polsky Center for Entrepreneurship and Innovation
The Wall Street Journal’s Private Equity Analyst has named two University of Chicago Booth School of Business alums, Katie Ossman, ’13, and Amy Christensen, ’11, to its annual list of women “who have risen through the professional ranks of their respective firms.”
December 3, 2020 | CNBC: Squawk Box
Austan Goolsbee, a professor at Chicago Booth and former chairman of the Council of Economic Advisors, breaks down the latest unemployment numbers and what they mean.
December 1, 2020 | The New York Times
Chicago Booth’s Austan Goolsee said he expected Cecilia Rouse, President-elect Joe Biden’s nominee to lead the Council of Economic Advisers, to focus on challenges facing workers in the gig economy and on workers who suffer long spells of unemployment in the crisis.
December 1, 2020 | FOX Business
A working paper coauthored by Chicago Booth’s Constantine Yannelis found that erasing all student loan debt would distribute $192 billion to the top 20% of earners in the U.S., but just $29 billion to the bottom 20% of U.S. households.
December 1, 2020 | Financial Post
Eric Budish's policy rule for the COVID-19 pandemic: Maximize social welfare subject to R ≤ 1. In this instance, R is the COVID transmission rate and R ≤ 1 means each infected person infects no more than one other person on average, which keeps the pandemic curve flat.
November 30, 2020 | VOX EU
The IGM Forum at Chicago Booth invited its panels of leading U.S. and European economists to express their views on the market dominance of Google and other technology giants in the digital economy.
November 29, 2020 | CNN: Inside Politics
Austan Goolsbee, a professor at Chicago Booth and former White House Chief Economist under President Obama, discusses the importance of a relief package as key pandemic programs expire.
November 28, 2020 | Salon
“The main thing is that letting COVID-19 rage uncontrollably will ravage the economy. They know this and are still not doing anything,” said Chicago Booth’s Austan Goolsbee of the Trump administration.
November 27, 2020 | The Print
Many Indian households remain under duress with employment, income, and consumption levels yet to return to their pre-COVID levels, according to a research paper coauthored by Chicago Booth professors Marianne Bertrand and Rebecca Dizon-Ross.
November 27, 2020 | South China Morning Post
As China plans to roll out a countrywide social credit system, critics are raising concerns about user privacy and machine learning. “The biggest challenge is that A.I./ML only learns correlation, very, very well—oftentimes too well,” said Chicago Booth’s Zhiguo He.
November 26, 2020 | The Telegraph
The U.S. Federal Reserve lacks the legal authority to deliver compensating monetary stimulus with rates at zero and QE magic wearing off, suggests Chicago Booth’s Randall Kroszner. “It can’t make the real economy take off like a rocket,” he said.
November 25, 2020 | Financial Times
It is a mistake to assume that building infrastructure will ensure future growth, suggests Chicago Booth’s Randall S. Kroszner, pointing to Japan’s past public works projects as an example.
November 24, 2020 | Forbes
Chicago Booth professor Heather Sarsons found that women economists get less credit when they collaborate with men. She writes, “The fact that women who work specifically with men receive tenure at lower rates than comparable women who work alone or with other women suggests that gender enters into the employer’s inference process.”
November 24, 2020 | The Telegraph
“Asset purchases are extremely effective against a market meltdown, but the Fed can’t cure COVID, and it can’t make the real economy take off like a rocket,” said Chicago Booth’s Randall Kroszner, a former governor of the Federal Reserve.
November 24, 2020 | The Telegraph
“What she’s very good at is trying to get things done and not letting ideology get in the way,” says Chicago Booth’s Randall Kroszner of Janet Yellen, President-elect Joe Biden’s pick for Treasury secretary.
November 23, 2020 | Marketplace
A lot of the people who have high student debt are high earners, says Chicago Booth’s Constantine Yannelis, because they accrued that debt while pursuing higher degrees, like master’s, medical, and law degrees.
November 23, 2020 | Mint
Chicago Booth’s Raghuram Rajan criticized a recommendation from the Reserve Bank of India’s Internal Working Group to allow Indian corporate houses to set up banks as part of proposed changes to the banking sector.
November 23, 2020 | Bloomberg
As many as one in 12 cases of COVID-19 in the early stage of the pandemic in the U.S. can be tied to outbreaks at meatpacking plants, according to a study from Chicago Booth and Columbia University.
November 21, 2020 | The Wall Street Journal
“In 2007–2008, we saw a lot of lenders who were making risky bets going under. There’s no force like that in the student-loan market,” said Constantine Yannelis, a former Treasury Department official in the Obama administration who now teaches at Chicago Booth.
November 19, 2020 | BusinessDay
Chicago Booth’s Randall Kroszner spoke at the BusinessDay CEO Forum, “A Breakthrough Approach to Leadership and Innovation in the Age of Disruption,” where he discussed steps the Central Bank of Nigeria can take to improve its economy.
November 16, 2020 | Bloomberg
Chicago Booth’s Raghuram G. Rajan took part in a panel at the Bloomberg New Economy Forum that highlighted the limits of central bank powers in addressing issues such as climate change and income inequality.
November 13, 2020 | BBC Radio 4: You and Yours
Chicago Booth’s Chad Syverson suggests the coronavirus pandemic will make Black Friday less popular in the United States this year. (Segment begins 8:08.)
November 15, 2020 | Crain’s Chicago Business
In the course Managing in Organizations, Chicago Booth professor Ann L. McGill says the goal is to help students be better bosses by learning what makes people function at their best.
November 14, 2020 | The Times
President Donald Trump and president-elect Joseph Biden agree on the need for stimulus to protect workers during the coronavirus pandemic. “There is a myth that Republicans won’t be willing to spend and Democrats will,” says Randall Kroszner, economics professor at the University of Chicago Booth
School of Business.
November 13, 2020 | Crain's Chicago Business
Booth's Nicholas Epley weighs in on why there's a better way to stay connected during COVID that simply requires reacquainting ourselves with a tried-and-true technology: the telephone.
November 13, 2020 | New York Times
The coronavirus crisis and the transition of 2020 have the clear potential to spiral out of control, says economist Austan Goolsbee.
November 12, 2020 | The Rational Reminder Podcast
Chicago Booth’s Lubos Pastor joins the Rational Reminder Podcast to discuss his body of research, including the goal of quantitative easing and the relationship between political cycles and stock returns.
November 12, 2020 | Financial Times
“The public Spac investors start, effectively, 25 per cent in the hole,” said Steven Kaplan, a private equity expert at the University of Chicago Booth School of Business, referring to the 20 per cent promote and other standard fees.
November 12, 2020 | Julius Baer Magazine
Environmental, social, and governance is at the forefront of every company’s thinking in 2020 – but the social part of it is proving the most complicated to measure. Booth's Robert Gertner weighs in. (Article begins on page 66.)
November 12, 2020 | Inc
A handful of new studies, by researchers including Booth's Nicholas Epley, suggest we should all pick up the phone a whole lot more rather than depend on asynchronous messaging.
November 11, 2020 | Poets & Quants
The Booth School of Business at the University of Chicago had one of the highest proportions of military MBAs in this year’s incoming Class of 2022: 8%. It was the highest in school history in the biggest class in school history: 621.
November 11, 2020 | The Independent
Randall Kroszner stresses that bolstering America's testing and tracking infrastructure to enable adequate monitoring and suppression of outbreaks is crucial for getting the economy back on track.
November 09, 2020 | The Wall Street Journal
Chicago Booth’s Austan Goolsbee says an uncontrollable new outbreak could create new stresses in financial markets and for small businesses that would lead to lasting economic damage.
November 09, 2020 | The Wall Street Journal
Some personal finance professionals have proposed administering student loan payments as a deduction, but Chicago Booth’s Constantine Yannelis suggests that could create problems for borrowers. “If their income falls, it can be some time before they see a payment reduction,” he explains.
November 06, 2020 | CNBC Squawk Box
Chicago Booth’s Austan Goolsbee joins BlackRock’s Kate Moore and Georgetown’s Nada Eissa to discuss the October jobs report.
November 05, 2020 | Yahoo! Finance
Austan Goolsbee, professor of economics at Chicago Booth and former chairman of the Council of Economic Advisers under President Obama, shares his take on the 2020 presidential election.
November 05, 2020 | Business Times
Chicago Booth’s Randall Kroszner notes that both Mr. Biden and Mr. Trump have taken “a very hard line on China” in their approach to foreign policy, and argues that global trade tensions would likely persist even with a change in U.S. leadership.
November 05, 2020 | Reader’s Digest
“In online interactions, rough mics and video lags decrease ease of understanding, which interferes with building mutual trust,” says Alex Koch, assistant professor of behavioral science at the University of Chicago Booth School of Business.
November 05, 2020 | Bloomberg Daybreak: Australia
Randall Kroszner, a former Federal Reserve governor and a professor of economics at Chicago Booth, discusses the central bank’s policy and the outlook for the economy.
November 05, 2020 | Bloomberg: Stephanomics
Chicago Booth professor and former Federal Reserve governor Randall Kroszner joins the Stephanomics podcast to discuss trade, taxes, and trillions of dollars in coronavirus rescue funding.
November 05, 2020 | BBC Radio 4: Today
Chicago Booth’s Randall Kroszner discusses the 2020 presidential election in the United States and how Joe Biden would handle the economy differently than Donald Trump if he wins the election. (Interview starts at 18:21.)
November 03, 2020 | Bloomberg Daybreak: Europe
States like New York and California with lots of voters are extremely pro-Biden, so the national polls can give a skewed view, suggests Chicago Booth’s Randall Kroszner, a former governor of the Federal Reserve.
November 03, 2020 | ProPublica
A 2019 NBER study coauthored by Chicago Booth’s Devin Pope estimated that residents of Black neighborhoods waited 29% longer to vote in the 2016 election and were 74% more likely to spend more than 30 minutes at their polling place. “I would be surprised if there weren’t disparities in wait times
for early voting and on Election Day in 2020,” said Pope.
November 03, 2020 | CNBC Squawk Box
Austan Goolsbee, a professor at the University of Chicago Booth School of Business and former chairman of the Council of Economic Advisors, discusses the potential impact of the election on the economy and the markets.
November 03, 2020 | Financial Times
While the Fed is averse to commenting on political developments, economists including Chicago Booth’s Randall Kroszner suggest that the US central bank would consider shoring up financial markets if a contested or uncertain outcome caused severe disruptions.
November 03, 2020 | MarketWatch
The presidential contest “might trigger a wave of reluctance to consume” post-election, when many people’s preferred candidate loses, according to a new paper coauthored by Chicago Booth’s Michael Weber. In contrast, a 2018 paper coauthored by Booth’s Amir Sufi found no effect on household
spending after the previous two presidential elections.
November 03, 2020 | The New York Times
Prior to the pandemic, restaurants were a huge feature that attracted people to downtowns, suggests Chicago Booth’s Erik Hurst. “When you think of other urban amenities, there is nothing that is as democratized,” he says.
November 02, 2020 | CBS News
Former White House economic adviser and Chicago Booth professor Austan Goolsbee discusses differences in the public health and economic policy paths offered by Joe Biden and Donald Trump.
November 02, 2020 | BBC 5 Live: Wake Up to Money
Chicago Booth’s Randall Kroszner discusses the possible outcome of the 2020 presidential election and how economic policy would differ under a Biden administration versus the Trump administration. (Interview starts at 27:21.)
November 02, 2020 | Business Insider
Sendhil Mullainathan, a behavioral scientist at Chicago Booth, argues that giving workers time off to vote could be a key step to reducing barriers to the ballot box for low-wage service workers and voters of color.
November 02, 2020 | Poets & Quants
The year 2020 marks the 100th anniversary of the Ph.D. program at the University of Chicago Booth School of Business, the nation’s first doctoral business program
October 31, 2020 | WBEZ / Chicago NPR
Economists are not very good at measuring the value of things like culture and character, suggests Chicago Booth’s Eric Zwick. That’s where the political process plays a role, he adds, to step in when the cultural value might outweigh the economic value.
October 29, 2020 | Financial Times
If Joe Biden wins the presidential election, Chicago Booth’s Austan Goolsbee thinks Republicans are likely to try to prevent him from implementing additional fiscal support amid the pandemic.
October 29, 2020 | AARP
“In these times when life feels more out of control, research suggests that those are the moments that people turn to magical thinking and superstitions more,” says Jane Risen, a professor of behavioral science at the University of Chicago Booth School of Business.
October 27, 2020 | The Times Raconteur
COVID-19 has forced many businesses to re-examine their supply chain structure and future procurement strategy. Chicago Booth professor Nicole DeHoratius says buyers are starting to mine down to get a real sense of how viable their suppliers are. (Article begins on page 8.)
October 27, 2020 | Crain’s Chicago Business
Without a viable solution to the state’s spending problems, both the level of taxation and quality of government-provided services in Illinois will continue to trend in the wrong directions, says Chicago Booth professor Joseph L. Pagliari Jr.
October 26, 2020 | Becker’s Hospital Review
Employers are more likely to give men credit for group work when they can’t directly determine each individual’s contribution, according to a study coauthored by Chicago Booth’s Heather Sarsons.
October 23, 2020 | Chicago Tribune
Even though many essentials are still in high demand, experts including Chicago Booth’s Constantine Yannelis say they don’t expect as much panic buying as in the spring. “Now there’s much less uncertainty about whether we can keep an economy running during a pandemic,” Yannelis said.
October 23, 2020 | Reuters
The U.S. Treasury market still runs the risk of abrupt freezes in liquidity like the one seen in March and April, a member of the Federal Reserve Bank of New York said in a speech to the Brookings-Chicago Booth Task Force on Financial Stability.
October 23, 2020 | The Times
Despite a lack of uniform restrictions, COVID-19’s reproduction number has remained close to 1 in the United States since July. Chicago Booth’s Randall Kroszner says, “It has to, at the very least, give pause for the people who say there is no trade-off and no real economic cost of lockdown.”
October 23, 2020 | Yahoo! Finance
The virus is “going to have a long term impact on demand in certain sectors,” said Chicago Booth’s Randall Kroszner. “This isn’t going to simply go away with the creation of the vaccine. The ability to use technology in the place of physical meetings and travel is going to have a permanent impact
on the travel and hospitality industries for quite some time.”
October 22, 2020 | The New York Times
A report from Chicago Booth’s Stigler Center recommends the creation of a regulatory authority to oversee the major tech companies.
October 21, 2020 | Financial Times
As COVID-19 threatens the existence of many businesses, Chicago Booth’s Raghuram Rajan suggests the best thing a company can do is focus its resources on survival to continue providing decent jobs for its workers.
October 20, 2020 | CNBC
Raghuram G. Rajan, a professor at Chicago Booth and a former governor of the Reserve Bank of India, suggested that central banks are now willing to tolerate more inflation for brief periods but would need to consider the extent to which various policies help or hurt the economy in the long
run.
October 19, 2020 | The Print: Off the Cuff
Raghuram Rajan, former Reserve Bank of India governor and the Katherine Dusak Miller Professor of Finance at Chicago Booth, shares his assessment of the Indian economy and the government’s handling of the pandemic.
October 19, 2020 | FiveThirtyEight
In the latest survey from Chicago Booth’s Initiative on Global Markets and FiveThirtyEight, economists collectively thought there was a 66% probability that the economy won’t truly be back to normal until 2022 or later.
October 19, 2020 | Associated Press
Chicago Booth’s John Birge and Ozan Candogan have been modeling how localized restrictions in New York City could best minimize both infections and economic harm.
October 18, 2020 | Bloomberg
Chicago Booth’s Randall Kroszner said the big debts that governments are racking up are “going to make it difficult for central banks to raise rates when they feel the need to do so” because that will increase borrowing costs.
October 18, 2020 | The New York Times
Economists advising Mr. Biden’s campaign from the outside, including Chicago Booth’s Austan D. Goolsbee, say they remain confident that his agenda will promote growth—and that Mr. Biden should not wait, if elected, to raise taxes on corporations and the rich.
October 17, 2020 | The Print
Chicago Booth’s Raghuram Rajan said the pandemic has hurt the potential growth of the Indian economy, and the loss of jobs and livelihood will lead to many Indians becoming impoverished.
October 16, 2020 | Crain’s Chicago Business
The pandemic can be an opportunity to reflect on how we can and should use our time when things are back to normal, suggests Chicago Booth professor Harry L. Davis.
October 14, 2020 | Financial Times
Ragurham Rajan, a professor at Chicago Booth and former Indian central banker, explains why the solution to economic adversity is to strengthen local communities.
October 14, 2020 | Chicago Sun-Times
A study from the Rustandy Center for Social Sector Innovation at Chicago Booth concludes that “place-based investments” can have a positive impact, provided there’s strong financial backing and buy-in from community leaders.
October 14, 2020 | Voice of America
The arrival of COVID-19 has forced businesses—and cities—to adapt. That’s what communities have always done, said James Schrager, a clinical professor of entrepreneurship and strategy at the University of Chicago Booth School of Business.
October 14, 2020 | MarketWatch
“The gig economy looks more like an auction and takes some price-setting power out of the hands of employers; it might be easier for really good workers to get paid what they’re worth,” said Anthony Lee Zhang, a finance professor at the University of Chicago Booth School of Business.
October 13, 2020 | The Washington Post
“The pandemic was like a meteor striking. You can’t go back to the world as it was. Some jobs will be made extinct,” said Chicago Booth’s Randall Kroszner, a Federal Reserve governor during the Great Recession.
October 12, 2020 | The Edge Markets
“Medicine is wonderful because you get to help save lives, but I felt that the good that I was able to achieve was limited by time and my hands,” said Anthony Lawrence, ’19 (AXP-18), who worked as a doctor before pivoting to a career in venture capital. “I wanted to be able to help create value
for society at scale and investing in companies allows me to do that.”
October 09, 2020 | Wired
Sanjog Misra, a professor of marketing at the University of Chicago Booth School of Business, says A.I. analytics tools remove some of the mystique from sales.
October 09, 2020 | The Washington Post
Research from Chicago Booth’s Constantine Yannelis suggests that targeting payments to households with low cash levels or lower income would result in more spending. A working paper coauthored by Booth’s Michael Weber echoes that more targeting would make stimulus checks more impactful.
October 08, 2020 | Associated Press
The share of unemployed people who called themselves “retired” increased from 53% in January to 60% in April, according to a study coauthored by Chicago Booth’s Michael Weber.
October 08, 2020 | Science
A new study coauthored by Chicago Booth psychologist Anuj Shah suggest people aren’t intentionally skipping court dates so much as forgetting or overlooking the information due to confusing summons forms.
October 08, 2020 | Yahoo! Finance On the Move
“If we don’t get that rescue and relief, I think the economy’s absolutely going to stall out,” Chicago Booth’s Austan Goolsbee says of President Trump’s call to halt stimulus negotiations until after the election.
October 07, 2020 | Institutional Investor
A large portion of private equity portfolios seemed asymptomatic following the sharp economic downturn from COVID-19, according to research by Chicago Booth’s Steven Kaplan, Harvard’s Paul Gompers, and Georgetown’s Vladimir Mukharlyamov.
October 07, 2020 | Yahoo! Finance
Austan Goolsbee, a professor of economics at Chicago Booth and former chairman of Obama’s Council of Economic Advisers, says President Trump needs to stop tweeting immediately. “He’s been in the hospital—he is on medication. He should not be tweeting out things that will blow up our economic
recovery.”
October 07, 2020 | The New York Times
“The gains that have been built up over time are fragile,” says Chicago Booth’s Raghuram G. Rajan of the economic recovery from the pandemic. “If we don’t try to protect those gains, it will take a longer time, a really long time to come back.”
October 07, 2020 | The New York Times
Amid faltering economic gains, economists including Chicago Booth’s Raghuram Rajan largely agree that the loss of momentum is likely to get worse if more aid doesn’t arrive soon.
October 06, 2020 | Project Syndicate
Raghuram G. Rajan of Chicago Booth argues that companies should continue to focus on maximizing the value of their shares over the long term.
October 05, 2020 | Los Angeles Times
Pradeep Chintagunta, a Chicago Booth economist who specializes in marketing, suggested Miami Heat’s Jimmy Butler is essentially functioning like a movie theater that charges customers a premium for snacks. “The value that this coffee provides to his audience is probably pretty high. He’s
leveraging the fact that the value is high,” Chintagunta said.
October 04, 2020 | Associated Press
Matthew Notowidigdo, an economist at the University of Chicago Booth School of Business, predicts that the rapid recall of temporary workers will lower unemployment to 4.6% a year from now. That would suggest a much faster recovery than the previous recession.
October 04, 2020 | Financial Times
In a global survey conducted by Chicago Booth professor Steven Kaplan, venture capital firms said they expected to invest at about 80% of their normal pace over the coming year—a smaller drop than during the global financial crisis.
October 03, 2020 | Washington Examiner
Kevin Murphy and Mark Zmijewski, economic professors from the University of Chicago Booth School of Business, released a paper outlining an updated methodology to modernize how the Surface Transportation Board monitors the financial health of the freight rail industry.
October 02, 2020 | Bloomberg Surveillance
Randall Kroszner, Chicago Booth professor and former Federal Reserve governor, says the geographical exodus from the cities to suburbs will have a significant impact on the labor market.
October 02, 2020 | CNN Business
Austan Goolsbee, a professor at Chicago Booth and former economic adviser to President Obama, says the rising number of permanently unemployed Americans paints a troubling picture of the recovery.
September 30, 2020 | The New York Times
Chicago Booth’s Austan Goolsbee suggests that government antitrust authorities must be more vigilant than ever amid the pandemic as large companies grow rapidly while their small competitors struggle.
September 29, 2020 | The Wall Street Journal
Central bank researchers overestimate the potency of bond buying stimulus efforts, in part because it benefits their careers, according to a new paper coauthored by Chicago Booth’s Elisabeth Kempf and Lubos Pastor.
September 28, 2020 | Bloomberg
Central bank economists tend to be more positive than outside researchers about the effectiveness of unorthodox monetary policy, according to a new study coauthored by Chicago Booth’s Elisabeth Kempf and Lubos Pastor.
September 26, 2020 | Bloomberg
Research from Chicago Booth’s Ralph Koijen suggests institutional managers are largely insensitive to prices because their buying and selling is primarily driven by their mandates. That bestows disproportionately large influence to other investors, like retail funds.
September 25, 2020 | CFO
A new study coauthored by Chicago Booth professor Christian Leuz analyzes the reasons behind mandating auditor rotations. Published in The Accounting Review, the study finds no significant fall-off in reporting quality over the course of auditors’ five-year tenures.
September 25, 2020 | VOX EU
As many households forgo medical care due to financial insecurity and the loss of employer-sponsored health insurance, Chicago Booth’s Ralph Koijen proposes life insurers provide interest-free loans that policyholders can use for health insurance payments.
September 24, 2020 | NPR
Joseph Vavra, an economics professor at Chicago Booth, says it's hard to know exactly how much stimulus the economy needs, but not providing any poses a huge risk.
September 23, 2020 | World Economic Forum
A study coauthored by Chicago Booth’s Nicholas Epley finds that people who know each other well don’t understand one another any better than people who just met. “Our problem in communicating with friends is that we have an illusion of insight,” Epley said.
September 23, 2020 | BBC
According to a study by Chicago Booth’s Jonathan Dingel and Brent Neiman, the jobs best suited to going remote were well-paid, white-collar occupations in big cities, while those in industries like agriculture and hospitality were much harder to switch.
September 23, 2020 | Business Insider
According to research by Constantine Yannelis of Chicago Booth and Luke C. D. Stein of Babson College, the short-term effects of Freedman’s Bank included raised incomes and literacy levels, and allowed the formerly enslaved population to accumulate wealth through land ownership.
September 23, 2020 | CNBC India
With the COVID-19 pandemic set to burden the Indian banking system with more non-performing assets, Raghuram Rajan, a professor at Chicago Booth and former governor of the RBI, discusses key problems and potential solutions.
September 22, 2020 | FiveThirtyEight
In this week’s survey from FiveThirtyEight and the Initiative on Global Markets at Chicago Booth, 32 quantitative macroeconomists weighed in on the present and future of the economy, and whether early lockdowns were too aggressive or not aggressive enough.
September 22, 2020 | The Times of India
Raghuram Rajan, a professor at Chicago Booth and former governor of the Reserve Bank of India, coauthored a paper on banking sector reforms that calls for “re-privatising” some public sector banks and dismantling the department of financial services in India.
September 21, 2020 | Reader’s Digest
“There’s a general belief that if you want to seem like an interesting, cultured person, the best thing you can do is to showcase that you’re open to new experiences,” says Chicago Booth’s Ed O’Brien. “I think we take for granted the other value of really digging deep into one domain.”
September 19, 2020 | Yahoo! Finance
Chicago Booth’s Randall Kroszner, former governor of the Federal Reserve, thinks the coronavirus outbreak is creating long-term structural changes in the economy, while reshaping certain sectors and geographies in profound ways.
September 19, 2020 | The Wall Street Journal
“The Fed is sending the message we want you to spend more and invest in riskier assets,” says Chicago Booth’s Austan Goolsbee of the Federal Reserve’s policy to hold short-term interest rates near zero until 2023.
September 18, 2020 | Forbes
Research from the University of Chicago Booth School of Business finds that residents of predominantly Black neighborhoods waited 29% longer to vote in the 2016 presidential election than those in white neighborhoods. Booth’s Sendhil Mullainathan suggests that lost time is the modern equivalent of
a poll tax.
September 18, 2020 | Reuters
“The direction is a very sensible one,” said Chicago Booth’s Randall Kroszner of the Fed’s three-part test for raising interest rates. “But I am concerned that they think this is now going to make a big difference in terms of market expectations.”
September 18, 2020 | Crain’s Chicago Business
As the United States faces many health-related issues tied to eating habits, Chicago Booth’s Jean-Pierre Dubé suggests personalized pricing could help by allowing companies to expand nutritional education to those who need it.
September 17, 2020 | Yahoo! Finance On the Move
Chicago Booth’s Randall Kroszner joins the On the Move panel to discuss the Federal Reserve’s latest decision to keep interest rates low for a long time.
September 17, 2020 | Financial Times
The COVID-19-driven recession is depriving Americans of healthcare benefits just when they need them most, according to Chicago Booth’s Ralph S.J. Koijen and Columbia’s Stijn Van Nieuwerburgh.
September 17, 2020 | Reuters
Chicago Booth’s Randall Kroszner says “there is going to be an enormous reallocation within the labor market” as workers shift from troubled sectors to expanding ones amid the COVID-19 pandemic.
September 17, 2020 | Sky News
Chicago Booth’s Randall Kroszner, a former Federal Reserve board member, comments on the Fed’s latest statement—which left markets disappointed.
September 16, 2020 | Business.com
Private equity investors bring more than cash to the table—they offer expertise and experience that business owners might lack. “PE investors usually have some expertise in the industry and may want to help acquire other companies and get bigger,” said Steven Neil Kaplan, professor of
entrepreneurship and finance at Chicago Booth.
September 15, 2020 | CNBC Squawk Box Asia
Chicago Booth’s Randall Kroszner, a former governor of the Federal Reserve, says the Fed does not have the tools to drive economic recovery from COVID-19, and the onus is on Congress to take fiscal policy action.
September 15, 2020 | Kiplinger
The average household spends 25% less on food in retirement. According to Chicago Booth’s Erik Hurst and Princeton’s Mark Aguiar, this is because you have more time to shop, plan ahead, and compare prices.
September 15, 2020 | ZD Net
A paper coauthored by Chicago Booth’s Veronica Guerrieri suggests that interdependent sectors of a global economy can damage one another collaterally during an event as calamitous as the pandemic.
September 15, 2020 | STAT
Sendhil Mullainathan, a computational and behavioral science researcher at the University of Chicago Booth School of Business, spoke with STAT about the importance of communication in developing A.I. tools, the data used to train algorithms, and how A.I. could improve care.
September 13, 2020 | The New York Times
In a special issue of The New York Times Magazine, Chicago Booth’s Marianne Bertrand and other experts revisit the legacy of the Friedman Doctrine, which gave rise to the shareholder-primacy view of the corporation. Bertrand suggests the view rested on the naïve belief that what is good for
shareholders is good for society.
September 11, 2020 | B Daily
Chicago Booth’s new London campus is intended to demonstrate the school’s ongoing commitment to the city as a place to invest and build its presence in. “We are delighted that our new address puts us at the heart of London’s vibrant business community,” said Randall Kroszner, deputy dean for
executive programs at Booth.
September 11, 2020 | Business Because
¶ş±ĆÖ±˛Ą announced the completion of its new central London campus. “From One Bartholomew Close, we will have businesses ranging from finance and professional services to technology startups and entrepreneurs on our doorstep,” said Randall Kroszner, deputy
dean for executive programs at Booth.
September 11, 2020 | Science Daily
While people are leaning heavily on technology for a sense of social connection amid the pandemic, they often send email or text messages when a phone call is more likely to produce feelings of connectedness, according to a study coauthored by Nicholas Epley of Chicago Booth and Amit Kumar of the
McCombs School of Business.
September 11, 2020 | Yahoo! Finance
Amid the ongoing pandemic and Washington gridlock, Chicago Booth’s Austan Goolsbee suggests states and cities will continue to face shortfalls; in order to balance their budgets, he says they’ll need to lay off workers, raise taxes, or both.
September 11, 2020 | Poets & Quants for Executives
Chicago Booth’s Randall Kroszner and Madhav Rajan discuss the school’s new campus at One Bartholomew Close in central London, which provides a COVID-19 secure environment to enable a number of local students to follow their classes in person.
September 11, 2020 | The Christian Science Monitor
Recipients of federal stimulus checks spent only about 40% of the money by early July, according to a study coauthored by Chicago Booth’s Michael Weber. If the goal is to stimulate demand, there are more efficient ways to do it, Weber suggests.
September 11, 2020 | Bloomberg Quint
The Stigler Center at Chicago Booth held a virtual conference this month examining Milton Friedman’s legacy, including the argument that corporate boards should focus on maximizing shareholder value. Luigi Zingales, a professor at Booth who helped organize the conference, says that the
intellectual basis for stakeholder capitalism can be rescued.
September 10, 2020 | FiveThirtyEight
In the latest economic survey from FiveThirtyEight and Chicago Booth’s Initiative on Global Markets, economists weighed in on the future of the U.S. GDP and unemployment numbers, as well as Americans’ spending and saving habits.
September 9, 2020 | MIT Technology Review
As the pandemic adds momentum to the development of central bank digital currencies, Chicago Booth’s Zhiguo He says it’s key to use digitally delivered state money in a sophisticated and market-oriented way.
September 4, 2020 | The Times of India
After India reported a significant contraction in its GDP during the April–June quarter, Chicago Booth’s Raghuram Rajan commented that the negative GDP growth numbers should alarm everyone. “The 23.9% contraction in India … compares with a drop of 12.4% in Italy and 9.5% in the United States, two
of the most COVID-affected advanced countries,” he said.
September 4, 2020 | Fox News: The Daily Briefing
Austan Goolsbee, a professor at Chicago Booth and former Council of Economic Advisers chairman, reacts to President Trump’s handling of the economy on “The Daily Briefing.”
September 4, 2020 | The New York Times
Jonathan Dingel and Brent Neiman of Chicago Booth have calculated that 37% of jobs can be done entirely from home. Those jobs tend to be highly paid, in fields like legal services, computer programming and financial services.
September 4, 2020 | Bloomberg Daybreak: Europe
Randall Kroszner, former governor of the Federal Reserve and professor of economics at Chicago Booth, says the United States is experiencing a sharp recovery—but warns of tough times ahead as employment undergoes fundamental changes.
September 3, 2020 | The Economist
A paper coauthored by Chicago Booth’s Luigi Zingales finds that in high-social-capital areas in Italy, households invest less in cash and more in stocks, and make less use of informal credit.
September 3, 2020 | Yahoo! Finance
Austan Goolsbee, Chicago Booth professor and former chairman of the Council of Economic Advisers for President Obama, joins the Final Round to discuss the latest economic data.
September 2, 2020 | CNN Business: Markets Now
Chicago Booth’s Austan Goolsbee talks about why the stock market is booming while Main Street suffers.
September 1, 2020 | Marketplace
Steven Davis, professor of economics at the University of Chicago Booth School of Business, spoke with “Marketplace Morning Report” about the psychological cost of permanent job losses amid the pandemic.
August 31, 2020 | The Washington Post
“This isn’t about whether middle-class people will have to pay more taxes. Clearly they won’t,” Chicago Booth’s Austan D. Goolsbee says of the debate over Joe Biden’s tax policy. “This is an argument about whether making corporations pay more income taxes would trickle down into lower workers’
wages.”
August 27, 2020 | Bloomberg Daybreak: Australia
Chicago Booth professor and former Federal Reserve governor Randall Kroszner discusses the Fed’s new approach to setting U.S. monetary policy, letting inflation and employment run higher—a shift that will likely keep interest rates low for years to come.
August 27, 2020 | Bloomberg Daybreak: Asia
Randall Kroszner, professor of economics at the University of Chicago Booth School of Business and former Federal Reserve governor, discusses the Fed’s new strategy for inflation.
August 27, 2020 | Bloomberg Daybreak: Australia
Raghuram Rajan, Chicago Booth professor and former Reserve Bank of India governor, discusses Federal Reserve policy and its implications for emerging markets.
August 27, 2020 | Yahoo! Finance The Ticker
Randall Kroszner, deputy dean and economics professor at Chicago Booth and former Federal Reserve governor, discusses the details of a new strategy for the central bank that will tolerate inflation “moderately” above its 2% target.
August 26, 2020 | Find MBA
Chicago Booth is one of the latest business schools to make its MBA STEM-certified, allowing international students to apply for a 24-month extension to the OPT scheme. “This updated degree reinforces the University of Chicago’s longstanding commitment to its international community,” dean Madhav
Rajan said.
August 26, 2020 | Reuters
According to a study by Chicago Booth economists Austan Goolsbee and Chad Syverson, local restrictions accounted for only 7 percentage points of an average 60% drop in consumer traffic, suggesting that people stayed home of their own accord.
August 25, 2020 | FiveThirtyEight
Economists surveyed by Chicago Booth’s Initiative on Global Markets and FiveThirtyEight predicted that if 25 percent of the population were suddenly immune to COVID-19, there would only be a 30 percent chance of GDP returning to its pre-pandemic level by the end of June 2021.
August 25, 2020 | Washington Post
Booth’s Marianne Bertrand, a leading expert on the pandemic’s labor market, weighs in on how permanent job losses threaten to transform temporary COVID closures into a lasting recession.
August 24, 2020 | Politico Europe
Booth’s Christian Leuz weighs in on why the continuing Brexit stalemate could pose problems for the UK’s ability to bounce back from the pandemic's impact on the economy.
August 23, 2020 | Business Insider
Marianne Bertrand of Chicago Booth discusses how Homebase data hinges on its user base of more than 100,000 small businesses.
August 21, 2020 | Yahoo! Finance On the Move
Booth’s Austan Goolsbee joins the On the Move panel to discuss the biggest takeaways from the final night of the Democratic National Convention.
August 21, 2020 | CNBC Squawk Box
Austan Goolsbee, professor at Chicago Booth and former chairman of the Council of Economic Advisers, joins “Squawk Box” to discuss the Democrats’ economic policies.
August 21, 2020 | Forbes
Chicago Booth’s Randall S. Kroszner compares the measures adopted by the UK and US to help the economy in time of the crisis.
August 21, 2020 | WalletHub
Chicago Booth’s Michael Weber explains why so many credit cards have added food-delivery rewards during the COVID-19 pandemic—and how to maximize those rewards.
August 20, 2020 | Channel News Asia
In poorer countries, some children may never go back to school after the pandemic. Chicago Booth’s Raghuram Rajan says governments need to get smarter at handling the crisis.
August 20, 2020 | CNBC
Raghuram Rajan, former Reserve Bank of India governor, talk about the role Libra and bitcoin could play when central banks begin to issue digital currencies.
August 20, 2020 | Institutional Investor
According to a study by researchers including Chicago Booth's Steve Kaplan, the venture capital industry is weathering the Covid-19 pandemic better than many parts of the world economy.
August 19, 2020 | CNBC Street Signs Europe
Randall Kroszner, former Federal Reserve governor and Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business, discusses the U.S. housing market and SME bankruptcies amid the pandemic.
August 18, 2020 | The Washington Post
The United States ordered double the number of ventilators needed in the worst-case scenario, which involved no equipment sharing between states and drew from the strategic national stockpile, said Chicago Booth’s Dan Adelman.
August 17, 2020 | UPI
The Washington Football Team has hired Jason Wright, ’13, a former NFL player, business consultant, and alumnus of Chicago Booth, as team president. He is the first Black team president in NFL history.
August 17, 2020 | Forbes
A recent research paper coauthored by Joshua Klayman, professor emeritus at the University of Chicago Booth School of Business, suggests that employees are more motivated to improve performance when feedback is collaborative and future focused.
August 16, 2020 | The Atlantic
“The ’60s and the ’70s in the U.S., I think, were a very special time,” said Chicago Booth’s Chang-Tai Hsieh, the lead author of a paper on how the upward mobility of women and Black Americans supercharged the economy in the postwar era. “I do think there is the potential for a similar burst, if
we had a similar type of revolution again, to tear down more barriers.”
August 14, 2020 | CNBC
“If the lapse lasts into September, I would expect to see defaults, business closures and perhaps personal bankruptcies start to pick up,” Chicago Booth’s Eric Zwick says of the delay on a new COVID-19 relief package.
August 14, 2020 | Forkast.News
China’s core issue continues to be how to stimulate domestic demand, suggests Zhiguo He, a professor of finance at Chicago Booth. “Stimulating domestic demand needs more information, not only a simple new payment or a new technology, it’s more like an economic question, not a technical problem,”
He said.
August 14, 2020 | Crain’s Chicago Business
Companies are notorious for finding what works and sticking with it, but Chicago Booth’s Robert H. Gernter argues that experimentation is important for innovation.
August 13, 2020 | CBS News
Without an extension of the $600 unemployment benefit, the nation is likely to witness a spike in evictions and food insecurity, according to a survey of economists by the Initiative on Global Markets at Chicago Booth.
August 11, 2020 | FiveThirtyEight
Economists surveyed by Chicago Booth’s Initiative on Global Markets and FiveThirtyEight suggest that personal consumption will most likely decline if federal unemployment aid isn’t renewed by September 1.
August 11, 2020 | BBC Future
Because the current recession is such a complicated mix of supply and demand shocks, it’s harder to predict how government interventions will work, suggests Chicago Booth professor Veronica Guerrieri. “This is why people were debating whether expansionary policy would be good or not,” she says.
“You can increase demand but it will not give more incentive for waiters to go to work or increase the likelihood of customers going to a restaurant.”
August 10, 2020 | The Market
Eugene Fama, Nobel laureate and professor of finance at Chicago Booth, warns that investors could begin to question the credit worthiness of governments because of the high national debt levels.
August 06, 2020 | Bloomberg Markets
Randall Kroszner, deputy dean at Chicago Booth and former Federal Reserve governor, says an expedited U.S. bankruptcy procedure would put distressed firms in a better position both for the workers who can remain and for the holders of the debt.
August 06, 2020 | The Washington Post
Chicago Booth economist Joseph Vavra suggests Congress has waited too long to act on unemployment benefits and must use a simpler solution to get the money out quickly. “Let’s get the typical worker to about 100 percent wage replacement,” Vavra says. “A $400 federal supplement would do that.”
August 06, 2020 | Financial Times
Even as conditions improve in the financial system, Chicago Booth’s Wenxin Du says the related decline in the total cash pile held by banks at the U.S. Federal Reserve should still be carefully watched.
August 06, 2020 | Reuters
The United States should take a more targeted approach with its new pandemic aid in case of a future economic slowdown or a second wave of infections, suggests Raghuram Rajan, a professor at Chicago Booth and a former governor of the Reserve Bank of India.
August 06, 2020 | The New York Times
Early in the pandemic, Chicago Booth’s Austan Goolsbee suggested that until the virus was under control, many people would be afraid to resume normal life and the economy would not function normally. The events of the last few months have borne out his prediction.
August 05, 2020 | Associated Press
Steven Davis, an economist at the University of Chicago Booth School of Business, estimates that even after the virus has been brought under control, the proportion of people working from home will triple compared with pre-pandemic levels.
August 03, 2020 | Project Syndicate
As the pandemic and its consequences persist, Chicago Booth’s Raghuram Rajan says we owe it to future generations to recognize how spending today could affect investment tomorrow. “We must target our spending carefully,” he says. “We must shift to protecting workers, not every job.”
August 03, 2020 | The Independent
Without taking steps to address the problems now, the UK risks sleepwalking its way into a further productivity slide in the midst of an economic crisis, says Chicago Booth’s Chad Syverson.
August 03, 2020 | The Times
Chicago Booth’s Randall Kroszner, a former governor of the Federal Reserve, said that policymakers in Britain should take a pragmatic approach to corporate insolvency to protect jobs and to preserve as much economic value as possible.
August 03, 2020 | The Washington Post
Asking a stranger to take your photo can have psychological benefits, according to research by Chicago Booth’s Nicholas Epley. “The expectation was that people don’t want to help, but people reported feeling very happy doing something for others,” he said.
August 02, 2020 | Financial Times
Niels Gormsen and Ralph Koijen of Chicago Booth found that dividend futures, which measure expected dividend growth, fell much less in the crisis than stock prices.
August 02, 2020 | CNBC Asia
The world needs global leadership in order to expand resources for countries that need them most during the pandemic, says Raghuram Rajan, a finance professor at the University of Chicago Booth School of Business.
July 31, 2020 | CNBC Make It
Enhanced unemployment insurance has kept consumer spending flowing as the U.S. economy tries to recover from COVID-19, according to a new report coauthored by Joseph Vavra of Chicago Booth. Vavra estimates that cutting the benefit would decrease consumer spending by $13 billion per week.
July 31, 2020 | CNBC Squawk Box
Austan Goolsbee, a professor at Chicago Booth and former chairman of the Council of Economic Advisors, and Andrew Olmem, partner at Mayer Brown and former deputy director of the National Economic Council, discuss negotiations for new COVID-19 relief benefits.
July 30, 2020 | Bloomberg
Booth professor and former Reserve Bank of India governor Raghuram Rajan says the Fed will be as supportive as possible but will resist negative interest rates.
July 30, 2020 | Financial Times
“It is a very natural development given the increased amount of funding to alternatives and the overlap of buyout, credit and hedge funds in the distress space,” said Booth's Steven Neil Kaplan.
July 29, 2020 | CNBC Street Signs Asia
Austan Goolsbee, a professor at the University of Chicago Booth School of Business, says the U.S. is facing its worst-ever recession, and it’s the only one caused by something that has nothing to do with the economy.
July 28, 2020 | Bloomberg
Some of the wealthiest executives in the technology sector are growing even richer as the coronavirus pandemic drives more activity online. “We moved the brick-and-mortar economy to an online economy dramatically,” said Luigi Zingales, a finance professor at the University of Chicago Booth School
of Business. “Probably the same thing would have happened in a longer period of time. Now it’s happening in weeks instead of years.”
July 28, 2020 | PBS NewsHour
Chicago Booth’s Austan Goolsbee and the American Enterprise Institute’s Michael Strain discuss whether the extra $600 per week benefit should be extended through the end of 2020 or tapered to a smaller amount.
July 28, 2020 | CNBC The Exchange
Steven Davis, a professor at the University of Chicago Booth School of Business and advisor to the U.S. Congressional Budget Office, discusses whether the $600 unemployment benefit is necessary relief or a disincentive to work.
July 27, 2020 | The Wall Street Journal
Chicago Booth professor and former Federal Reserve governor Randall Kroszner says the markets and the public expect the Fed to fix problems its tools are suited for. “There is nothing the Fed can do to bring back the airline industry, to replace broken supply chains, to make people feel
comfortable going out to shopping malls,” he says.
July 26, 2020 | CNN Business
Austan Goolsbee, a professor at Chicago Booth and former chair of President Obama’s Council of Economic Advisors, warns that whoever wins the presidential election might be facing worse economic conditions than Obama did in 2009.
July 26, 2020 | Wisconsin State Journal
“It was, I think, really a balancing act between trying to target specifically where this was needed with probably over-allocating funds and having some funds end up in places where probably they weren’t needed as much,” says Chicago Booth’s Micheal Minnis of the Paycheck Protection Program.
July 25, 2020 | Rolling Stone
The $600 unemployment benefit is roughly equivalent to the average lost wage for the American worker. Because it is a flat fee, most workers—about two-thirds, according to Chicago Booth’s Joseph Vavra—are eligible to bring home more money than they would at their old jobs.
July 24, 2020 | NBC News
“The CARES Act was mainly based on the premise that we would freeze jobs and firms in place and then everyone would go back,” says Steven Davis, an economics professor at the University of Chicago Booth School of Business. “There’s a great deal of evidence that the post-pandemic economy will look
significantly different and many of the lost jobs are not coming back.”
July 24, 2020 | The Economic Times
Cautioning that there will be deeply damaged firms in the economy, Chicago Booth’s Raghuram Rajan says the post-pandemic recovery has to be accompanied by a process of repair.
July 23, 2020 | Medical Xpress
Chicago Booth professor and social psychologist Ayelet Fishbach says policymakers have a responsibility to help guide the public through feelings of uncertainty brought on by the pandemic.
July 23, 2020 | Crain’s Chicago Business
Chicago Booth alumnus Rodney Jones-Tyson, ’98, chief risk officer at Baird, was named among Crain’s 2020 list of notable LGBTQ executives for establishing an LGBTQ employee resource group as well as a multicultural resource group that tripled the number of officers who are people of color.
July 22, 2020 | MarketWatch
Early retirement is a major factor in the decline of labor-force participation, according to research by Michael Weber of Chicago Booth, Olivier Coibon of the University of Texas at Austin, and Yuriy Gorodnichenko of the University of California at Berkeley. “[It] suggests that the onset of the
COVID-19 crisis led to a wave of earlier than planned retirements,” the researchers write.
July 22, 2020 | Yahoo! Finance
Austan Goolsbee, former chairman for President Obama’s Council of Economic Advisers and a professor at Chicago Booth, discusses the latest stimulus outlook as the GOP and White House remain at odds on a new proposal.
July 22, 2020 | CoronaNomics
As the coronavirus pandemic seems to accelerate the end of globalization, Chicago Booth professor and former RBI governor Raghuram Rajan discusses whether the time has come for a wave of radical political devolution.
July 22, 2020 | CNBC Asia
While markets reacted positively this week to promising news of potential coronavirus vaccines in development, Chicago Booth’s Raghuram Rajan warned that the economic hit from the pandemic will be here for a long time. He said that many small businesses that closed in March aren’t going to reopen
even when the situation improves.
July 21, 2020 | FiveThirtyEight
In the latest installment of a regular survey from Chicago Booth’s Initiative on Global Markets and FiveThirtyEight, participating economists collectively thought there was a 59 percent chance that either keeping or increasing enhanced unemployment benefits would be most beneficial to the economy.
July 21, 2020 | Bloomberg
Hedge funds exert far more power on equity prices than most other classes of investors, according to a recent paper from Chicago Booth’s Ralph Koijen, New York University’s Robert Richmond and Princeton University’s Motohiro Yogo.
July 21, 2020 | The New York Times
Joseph Vavra, an economist at Chicago Booth, warns that if the enhanced unemployment benefits expire, “there’s a good chance that what is now an unemployment problem becomes a foreclosure crisis and eviction crisis.” A working paper from Chicago Booth’s Pascal J. Noel and the University of
Chicago’s Peter Ganong and Damon Jones indicates the risk is particularly acute for Black and Latino workers, who have been disproportionately affected by job losses and are less likely to have savings or other assets to fall back on.
July 21, 2020 | The Hill
Joseph Vavra, a professor at Chicago Booth, says the $600 benefit has been an important factor in the economic recovery, helping millions of people pay their rent, buy food and spend money at businesses desperate for consumers. “There’s lots of evidence that unemployed workers spend those benefits
when they get them, and that flows out to the general economy,” he said.
July 21, 2020 | The New York Times
Chicago Booth’s Jonathan Dingel and Brent Neiman estimate that almost 40 percent of the nation’s jobs can be done from home. If this model catches on, it could reconfigure the geography of America’s tech industries. Booth’s Erik Hurst argues that people will always seek the kind of social contact
that cities provide.
July 20, 2020 | MarketWatch
In a new working paper, Chicago Booth professor Lubos Pastor and PhD candidate M. Blair Vorsatz find that active managers have performed poorly during the COVID-19 crisis, in contrast to the popular belief that active managers can outperform during downturns.
July 19, 2020 | The Wall Street Journal
Former Federal Reserve governor Randall S. Kroszner, an economist at the Chicago Booth School of Business, said it is imperative that governments quickly improve their ability to identify and contain localized infection outbreaks.
July 17, 2020 | Crain’s Chicago Business
As businesses attempt to regain their footing after the COVID-19-induced economic downturn, Chicago Booth professor George Wu recommends being more aggressive in negotiating new commercial agreements. “The key is to dial it up just a little more than usual, but not to go so far that you run the
risk of scuttling a deal altogether,” he says.
July 17, 2020 | BusinessBecause
The idea of continuing remote work post-pandemic raises big questions for organizations about how they structure their workforce and how personnel work with one another, says Chicago Booth’s Jonathan Dingel. “That’s not going to be the default for firms that were organized with the assumption of
co-located people working face to face,” he says.
July 15, 2020 | BloombergQuint
India’s banking sector is likely to witness an unprecedented increase in NPAs in the next six months, said Raghuram Rajan, Chicago Booth professor and former RBI governor. “We are in trouble and the sooner we recognize it, the better it is because we really need to deal with the problem,” he
added.
July 15, 2020 | FiveThirtyEight
Economists are looking most closely at gross domestic product to measure the economic recovery, according to a joint ongoing survey between FiveThirtyEight and Chicago Booth’s Initiative on Global Markets.
July 14, 2020 | Becker’s Hospital Review
In a series of studies, Chicago Booth’s Celia Gaertig and University of Pennsylvania’s Joseph Simmons found that although people evaluate confident advisers favorably, they don’t mind when advice itself is uncertain. “Advisors benefit from expressing themselves with confidence, but not from
communicating false certainty,” the researchers conclude.
July 14, 2020 | Quartz
A study from Chicago Booth found that among those who left the labor force, 60% claimed to be retired in April compared to 53% in January. Michael Weber, one of the study’s authors, says it’s “very unlikely” we’ll see a big bounce back in the employment to population ratio coming out of the
recession.
July 14, 2020 | CNN
People tend to give up in the middle of goals, according to psychologists including Chicago Booth’s Ayelet Fishbach. One solution is to make the “middles” of your goals and to-do list tasks short.
July 13, 2020 | Yahoo! Finance
Austan Goolsbee, a Chicago Booth professor and former chair of the Council of Economic Advisers, joins Yahoo Finance’s The First Trade to discuss Joe Biden’s $700 billion economic plan, which Goolsbee says is primarily about investment and rebuilding infrastructure the country needs.
July 13, 2020 | Vox
In a May poll by Data for Progress, 24% of respondents said the Paycheck Protection Program should help keep businesses afloat. Yet, as Chicago Booth’s Michael Minnis notes, the goal of the PPP was to keep workers on payroll. “It wasn’t called the small business protection program or the
microbusiness protection program. Companies in the 100 to 500 employee range have more payroll dollars than companies in the under 100 employees range,” he said.
July 12, 2020 | The New York Times
While a recent study from Cornell University suggested drivers for Uber and Lyft may be better compensated than previously understood, Chicago Booth’s Luigi Zingales suggested that the research might be subtly skewed, because academic work that relies on data controlled by companies tends to avoid
negative findings.
July 11, 2020 | The Guardian
Nicholas Epley, a professor at the Chicago Booth School of Business, says that most people who claim to hate talking on the phone overestimate how uncomfortable the interaction will be. His studies have repeatedly shown that voice calls are much more intimate than emails or texts, yet no more
awkward.
July 10, 2020 | Bloomberg Tax
Retailers, especially apparel companies, frequently mentioned CARES Act tax benefits in their financial disclosures, according to research coauthored by Chicago Booth’s John Gallemore.
July 09, 2020 | Financial Times
Unless over-indebted businesses see their revenues begin to rise, many will confront a stark choice between orderly restructuring and default. Chicago Booth’s Steven Kaplan suggests private equity firms can help companies interested in restructuring. “There are billions and billions of dollars of
funds getting ready to put money in to help with that process,” he said.
July 09, 2020 | Bloomberg Law
A new report coauthored by Chicago Booth’s Wenxin Du examines the cause of turbulence in funding markets last September. The report suggests U.S. global systemically important banks have become the “lenders-of-second-to-last resort.”
July 08, 2020 | CNBC-TV18
According to Raghuram Rajan, former RBI governor and a professor at Chicago Booth, a key step that India needs to take in the run-up to economic recovery is to clean up the financial sector of past stresses. He said that the NCLT should be working in overdrive to clear out old cases and prepare
for the deluge of new ones.
July 08, 2020 | CNBC
Under the CARES Act, 68% of the unemployed are eligible for benefits exceeding what they had been earning, according to research by Chicago Booth’s Joseph S. Vavra and Pascal J. Noel and the University of Chicago’s Peter Ganong. Occupations with the highest percentage of unemployment compensation
compared to salary include food service, janitors and medical assistants.
July 08, 2020 | Forbes
According to a new paper by Chicago Booth’s Austan Goolsbee and Chad Syverson, fears about contracting COVID-19, not government-mandated shutdowns, are to blame for deepening the economic slump. “While overall consumer traffic fell by 60 percentage points, legal restrictions explain only 7
percentage points of this,” they write.
July 08, 2020 | Bloomberg Surveillance Podcast
Austan Goolsbee, a professor at the University of Chicago Booth School of Business, says the economies in the U.S. and Sweden will have a hard time recovering if the virus is not contained soon.
July 08, 2020 | Newsweek
Chicago Booth’s Randall Kroszner says that while both the U.K. and U.S. have a “very strong monetary policy response,” the U.K. has been much more supportive of apprenticeships and cultural institutions.
July 07, 2020 | FiveThirtyEight
In a survey by FiveThirtyEight and Chicago Booth’s Initiative on Global Markets, economists suggest that a refusal by Congress to extend unemployment benefits or bail out state and local governments is just as likely to hurt the economy as local economies staying open in spite of COVID-19 spikes.
July 06, 2020 | Financial Times
Struggling economies must control the virus to minimize damage, and their governments must expand the resources they can devote to economic repair and recovery, says Chicago Booth’s Raghuram Rajan.
July 05, 2020 | Financial Times
According to research by Chicago Booth’s Erik Hurst, the 20% employment contraction in mid-April was largely tied to small companies in the consumer services sector.
July 02, 2020 | Associated Press
Erik Hurst, an economics professor at Chicago Booth, said many restaurants, bars and gyms can’t survive by operating at half-capacity, and customers are going to be cautious until there is a vaccine.
July 02, 2020 | Inside Hook
One way companies can combat systemic racism is to employ blind hiring practices, suggests Chicago Booth’s Christina Hachikian. She says that blind hiring helps with intersectionality and promotes an actually diverse workplace.
July 02, 2020 | CNBC Squawk Box
Chicago Booth’s Austan Goolsbee discusses the June jobs report with Columbia Business School’s Glenn Hubbard, Georgetown’s Nada Eissa and CNBC’s Steve Liesman.
July 02, 2020 | Pandemic Economics Podcast
Chicago Booth’s Austan Goolsbee and Chad Syverson share new research exploring whether government policy is driving consumer behavior or fear of infection.
July 01, 2020 | CNBC Squawk Box Asia
The pandemic’s exacerbation of political upheaval and socioeconomic inequality is a “source of enormous concern,” says Raghuram Rajan, former governor of the Reserve Bank of India and current professor of finance at the University of Chicago Booth School of Business.
June 30, 2020 | Associated Press
A study by Austan Goolsbee and Chad Syverson of the University of Chicago Booth School of Business found that Americans chose to stay home or avoid crowded stores this spring not necessarily because authorities told them to, but out of fear stemming from reports of COVID-19 deaths.
June 30, 2020 | Bloomberg
Facebook faces additional antitrust scrutiny from the U.S. Federal Trade Commission, the Justice Department, and a coalition of state attorneys general led by New York’s Letitia James. Chicago Booth’s Guy Rolnik suggests Facebook is not ready for a potential breakup of the company. “If it’s a
Biden administration this is what’s going to be on the table,” he says.
June 27, 2020 | Full Court Press with Greta Van Susteren
“We have to stop with the attitude that says, ‘Oh it’s a tradeoff between health and the economy,’” says Chicago Booth economist Austan Goolsbee. “The health problems are the economy. If people are afraid, they are not going out of their houses.”
June 26, 2020 | NPR
Chicago Booth’s Austan Goolsbee found that whenever the coronavirus death toll increased, customers dialed back their shopping and stayed home, even if local governments didn’t issue stay-at-home orders. “This is not a thing to be decided by governors or mayors or anybody. People have to feel
comfortable to go out. And if they don’t, they’re going to stay home,” he said.
June 26, 2020 | Find MBA
¶ş±ĆÖ±˛Ą was ranked among the 10 best MBA programs for human resources management for its emphasis on human capital and helping managers understand how they can inspire the people they lead.
June 26, 2020 | The New York Times
The pandemic already has fueled a surge in early retirements, according to a report published recently by Chicago Booth’s Michael Weber and coauthors. “This phenomenon is widespread across older workers, but it really increases at age 65, when economic incentives play a role,” he said, noting
that’s when Medicare eligibility begins and full Social Security benefits are on the horizon.
June 25, 2020 | Bloomberg Surveillance
Chicago Booth’s Randall S. Kroszner discusses the Fed’s annual stress test for the nation’s biggest banks and its new sensitivity analysis, which gauges how well banks can navigate an economy shattered by a global pandemic. Segment begins at 30:35.
June 25, 2020 | Brookings Papers on Economic Activity
While household spending has rebounded for certain income groups since mid-April, overall spending remains severely depressed, according to research by Chicago Booth’s Joseph Vavra and Pascal Noel, the University of Chicago’s Peter Ganong, and others. “New stimulus may be needed to maintain
spending for low-income, vulnerable households in the near future,” the researchers write.
June 23, 2020 | FiveThirtyEight
The Initiative on Global Markets at Chicago Booth and FiveThirtyEight surveyed 34 quantitative macroeconomic economists about the coronavirus recession and recovery efforts. Seventy-three percent predicted a reverse radical for the country’s economic future—a steep drop followed by a quick partial
recovery and a longer period of slower, mixed growth.
June 23, 2020 | The New York Times
American companies have become more comfortable with remote work over the past few months, and they may choose to respond to the visa suspension by hiring the same worker but having them work remotely in another country, said Joseph Vavra, associate professor of economics at the University of
Chicago Booth School of Business.
June 22, 2020 | Financial Times
Amir Sufi, an economist at Chicago Booth, argues that because of lower rates and forbearance, the probability of a default crisis is much lower than in 2008. But he sees another risk in all the new debt that will be created to prop up demand.
June 22, 2020 | NPR Hidden Brain
Chicago Booth economist Amir Sufi argues that the buildup of household debt is the single most important driver of severe recessions.
June 22, 2020 | Good Morning America
Economist Austan Goolsbee breaks down the biggest differences and similarities for both recessions, and offers hope on how and why our recovery now might be faster than in 2008.
June 19, 2020 | Sky News
With the challenges facing the global economy, Chicago Booth’s Randall Kroszner suggests the Bank of England will likely take out insurance by buying assets.
June 18, 2020 | AARP
Many older workers may be choosing early retirement during the COVID-19 crisis, according to a new paper by Michael Weber of Chicago Booth, Olivier Coibion of the University of Texas at Austin, and Yuriy Gorodnichenko of the University of California, Berkeley. The researchers found a seven percent
increase in those who identify themselves as retired.
June 17, 2020 | CNBC Squawk Box Asia
Austan Goolsbee, former chair of the Council of Economic Advisers and a professor at Chicago Booth, says the Federal Reserve is doing what it should to prevent a permanent economic shock. However, he suggests many of the central bank’s actions are also feeding into the disconnect between the
markets and the economy.
June 15, 2020 | Kaiser Health News
Although the Department of Health and Human Services has contracts with several companies for nearly 200,000 ventilators by year’s end, Chicago Booth’s Daniel Adelman says it’s important to have a backup plan. “If that’s your Plan A, there’s a risk that those ventilators, they may not all be
usable, they may not be available in time, and so on and so forth,” he said.
June 13, 2020 | The New York Times
Amazon, Apple, Facebook, Google, and Microsoft are taking risks by spending in an uncertain period, said Chicago Booth’s John Paul Rollert. “To double and even triple down when the casino is on fire is a remarkable move, because they may not even be able to cash in their chips later on,” he said.
June 12, 2020 | VOX
Lubos Pastor, a professor of finance at the University of Chicago Booth School of Business, suggests that the easiest way for central banks to deal with debt from COVID-19 is to tolerate above-average inflation.
June 12, 2020 | The New York Times
Chicago Booth economist Sendhil Mullainathan says corporate America’s expressions of support for the George Floyd protests are often vague; to provide real support for racial equity, he recommends pledging to provide workers time for voting (#time4voting, as he calls it).
June 11, 2020 | Bloomberg Daybreak Europe
Randall Kroszner, former Federal Reserve governor and a professor at Chicago Booth, agrees with Federal Reserve chair Jerome Powell that it’s going to be a long, hard slog for economic recovery. He said now is the time to pivot and recognize the long-term challenges facing major industries.
June 11, 2020 | Risk
A paper coauthored by Chicago Booth’s Haresh Sapra suggests that greater provisions under the Current Expected Credit Loss accounting standard are a “double-edged sword.” As capital dwindles, regulators are more likely to intervene. The prospect of earlier intervention may incentivize banks to
pursue lucrative but risky loans.
June 11, 2020 | Bloomberg
The global economy is recovering more slowly than expected from the coronavirus pandemic, according to a video the International Monetary Fund released for the annual Asian Monetary Policy Forum, cohosted by the University of Chicago Booth School of Business.
June 10, 2020 | Bloomberg Surveillance
Raghuram Rajan, a Chicago Booth professor and former Reserve Bank of India governor, says the Federal Reserve is effectively supporting the markets during the COVID-19 pandemic, but it’s facing a short-term disinflation problem.
June 10, 2020 | Fatherly
The sunk cost fallacy isn’t efficient, says Ayelet Fishbach, professor of behavioral science and marketing at the University of Chicago Booth School of Business. To make better decisions, she says it’s important to think about what’s missing from your current situation, which helps you focus on
the issue at hand.
June 10, 2020 | Yahoo! Finance The First Trade
The team at Yahoo Finance speaks with former Federal Reserve governor and Chicago Booth deputy dean Randall Kroszner about what we can expect from the Federal Reserve today.
June 09, 2020 | FiveThirtyEight
A survey of quantitative macroeconomic economists conducted by FiveThirtyEight and the Initiative on Global Markets at Chicago Booth found that respondents are increasingly optimistic about the country’s economic trajectory—at least when it comes to employment.
June 09, 2020 | CNBC Squawk on the Street
Raghuram Rajan, former governor of the Reserve Bank of India and professor at the University of Chicago Booth School of Business, joins “Squawk on the Street” to discuss the markets and Fed lending programs.
June 09, 2020 | Scientific American
Oleg Urminsky, a professor of marketing at the University of Chicago Booth School of Business, has been studying the goal gradient hypothesis since he was a doctoral student. The basic idea is that the closer we get to completing a goal, the more motivated we are to achieve it.
June 08, 2020 | Markets Insider
As central banks around the world continue to roll out measures to keep their economies afloat during the pandemic, Chicago Both’s Randall Kroszner says there’s only so much they can do. “As a central banker I am never going to say central banks are not powerful but they can’t cure the virus, they
can’t unlock economies, and they can’t replace broken supply chains,” he said.
June 07, 2020 | Financial Times
Although the latest jobs report showed a drop in unemployment, the Bureau of Labor Statistics acknowledged that some furloughed employees had been mislabeled. “At a moment like this, the line is blurry over how furloughed/ hiatus/ temporarily closed workers should be classified,” said Chicago
Booth’s Austan Goolsbee. “They gave guidance to the field personnel but clearly there was ambiguity and some reported it one way and some the other.”
June 07, 2020 | Associated Press
Forty-two percent of the layoffs caused by the pandemic could become permanent job losses, according to a study by Chicago Booth’s Becker Friedman Institute for Economics.
June 06, 2020 | CNBC Global Dialogues
Raghuram Rajan of Chicago Booth said governments can’t bailout every company, and many will need to be run through bankruptcy.
June 06, 2020 | The New York Times
The economic cost of COVID-19 lockdowns could have been reduced by a third or more by strategically choosing neighborhoods to close, according to research by Chicago Booth’s John Birge and coauthors. Another study coauthored by Chicago Booth’s Chang-Tai Hsieh came to similar conclusions. “We can
do social-distancing in a much smarter way that’s a lot more targeted, in which we get more benefits and less costs,” Hsieh said.
June 06, 2020 | The New York Times
What started as a disruption to the supply side of the economy has metastasized into a collapse of the demand side, Chicago Booth’s Veronica Guerrieri and co-authors say in a recent working paper on the macroeconomic implications of COVID-19.
June 05, 2020 | Bloomberg News
Randall Kroszner, former Federal Reserve governor and economics professor at the University of Chicago Booth School of Business, discusses the state of the U.S. labor market ahead of the May jobs report. Segment begins at 1:31:00.
June 05, 2020 | Bloomberg Markets Balance of Power
Austan Goolsbee, a professor at Chicago Booth and former chairman of the White House Council of Economic Advisers, says the May U.S. employment report will probably cause a “partisan food fight” in Congress over the need for further stimulus.
June 05, 2020 | CNBC Squawk Box Europe
Randall Kroszner, former Federal Reserve governor and the Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business, discusses the economic recovery from the coronavirus crisis.
June 05, 2020 | Barron’s
In an interview with Barron’s, Chicago Booth professor Amir Sufi discusses his research on income inequality and the fragility of the global economy, and why it matters in the age of coronavirus.
June 04, 2020 | Foreign Affairs
To avoid a catastrophic string of coronavirus-related defaults in emerging markets, Chicago Booth economist Chang-Tai Hsieh and coauthors say governments and private creditors must share the burden of providing debt relief.
June 04, 2020 | New York Daily News
Following the killing of George Floyd in Minneapolis, Chicago Booth’s Bernd Wittenbrink and the University of Colorado’s Joshua Correll say responses must address the deep divisions and bias that pervade the nation. “Systemic racial bias is all around us,” they write. “It is not just police
officers who make racially biased decisions, it is society at large that is racially biased.”
June 04, 2020 | The Hill
The University of Chicago’s Peter Ganong and Chicago Booth’s Pascal Noel and Joseph Vavra propose a small legislative change to help ensure benefits continue to flow to those in most in need while reducing the concern that people won’t take jobs when they become available.
June 03, 2020 | The Wall Street Journal
Varying estimates of job loss triggered by the pandemic all show historically high numbers that are likely to leave a lasting mark on the US economy. “The magnitude and speed of this employment loss is like nothing we’ve ever seen before,” said Chicago Booth economist Erik Hurst. “I think it will
take multiple years before we get back to pre-March 2020 levels.”
June 02, 2020 | The New York Times
If the economic pain from the COVID-19 pandemic drags on, there could be long-lasting changes to the way people work and how tenants want offices to be reimagined, suggests Joseph L. Pagliari Jr., clinical professor of real estate at Chicago Booth. He said the pandemic has turned salable amenities
such as fitness centers and food courts into potential liabilities, while some of the changes—like more spacious elevators—could be costly.
June 01, 2020 | Los Angeles Times
As everyday life reopens for business, Chicago Booth’s Ed O’Brien suggests companies should plan for slowed consumption resurgence. “For many of us, the risks to health and safety are still far too high relative to the reward of a premature return,” he says.
June 01, 2020 | Washington Examiner
Pent-up consumer demand from the coronavirus shutdown will create a partial bounceback in economic activity and spending in the coming weeks as the country reopens, economists predict. “People trying to do things they’ve been putting off like dental care, elective medical procedures, and haircuts
are likely to see a spike in demand,” said Eric Zwick, a finance professor at the University of Chicago Booth School of Business.
May 30, 2020 | Barron’s
Michael Weber, an associate professor at the University of Chicago Booth School of Business, warned that if businesses close or scale back staffing, job seekers will be forced to compete against each other, driving wages lower, as is typical in recession job markets.
May 29, 2020 | Inc.
Regional and community banks in less-populated areas like North Dakota are better at dispersing PPP loans than large national banks with a dominant presence in cities, according to a study coauthored by Constantine Yannelis, an assistant professor of finance at the University of Chicago Booth
School of Business.
May 29, 2020 | BBC HARDTalk
The BBC’s Stephen Sackur speaks to Raghuram Rajan, a professor at Chicago Booth and former governor of India’s Reserve Bank, about the current recession and how governments’ should respond to facilitate economic recovery.
May 28, 2020 | Chicago Tribune
Erik Hurst, an economics professor at the University of Chicago Booth School of Business, doubts people would risk losing their jobs long-term to earn the extra unemployment benefits. In cases where that does happen, he thinks businesses will have an easy time finding new workers.
May 28, 2020 | NPR 1A
Chicago Booth economist Steven Davis discusses unemployment figures and economic recovery on the Pandemic Economics podcast, a partnership between NPR 1A and the Becker Friedman Institute at the University of Chicago Booth School of Business.
May 28, 2020 | NPR 1A
Erik Hurst of Chicago Booth and Elise Gould of the Economic Policy Institute discuss the sectors and demographics hit hardest by the COVID-19 shutdowns, which includes women and Latinos as well as the leisure and hospitality industry.
May 28, 2020 | Bloomberg Tax
The coronavirus relief legislation enacted in March gave financial institutions the option to delay a new loan loss provisioning standard. Haresh Sapra of Chicago Booth and Lucas Mahieux of Tilburg University argue that the delay in implementing the new standard won’t benefit the economy.
May 27, 2020 | The Washington Post
Recovery from the pandemic’s economic damage will be protracted, according to a new report coauthored by Steven J. Davis of Chicago Booth and Jose Maria Barrero and Nicholas Bloom of the Becker Friedman Institute. The researchers suggest the policies designed to preserve pre-COVID jobs exact a
high cost in resource misallocation and taxpayer burden.
May 27, 2020 | Bloomberg
The Rustandy Center for Social Sector Innovation at the University of Chicago Booth School of Business analyzed the unemployment data from the CMIE and found that rural areas were the hardest hit.
May 27, 2020 | The Telegraph
With the global economy facing its greatest upheaval since the Second World War, economists are discussing the need for reform to help nations recover from the crisis. “None of these [global] institutions, with the exception of the World Health Organization, is focused on globally systemic
issues,” says Randall Kroszner, a former governor of the Federal Reserve and now a professor at Chicago Booth.
May 26, 2020 | NPR Morning Edition
With double-digit unemployment, Chicago Booth’s Joseph Vavra and the University of Chicago’s Peter Ganong argue that maintaining some kind of increased benefits will be vital, but they suggest those benefits could be more closely tied to workers’ old paychecks so as not to discourage a return to
work.
May 26, 2020 | FiveThirtyEight
The Initiative on Global Markets at Chicago Booth partnered with FiveThirtyEight to survey quantitative macroeconomic researchers about the trajectory of the economic crisis. Overall, the researchers predicted that although the economy will likely begin to improve in the second half of this year,
there won’t be a quick rally from this recession.
May 26, 2020 | NPR Planet Money
Job losses due to the pandemic are dramatically concentrated in the low end of the wage distribution, according to research by Chicago Booth economist Erik Hurst. Among the top fifth of income earners, he says about 9% lost their jobs, compared to 35% of the bottom fifth of earners, who are more
likely to be black and Latino.
May 25, 2020 | Medical Xpress
Public disclosure can help people target their social distancing, enabling vulnerable populations to more easily avoid areas with a higher rate of infection, according to research coauthored by Chicago Booth’s Chang-Tai Hsieh that examines Seoul’s measures to battle COVID-19.
May 25, 2020 | The Wall Street Journal
Chicago Booth economist Constantine Yannelis says there have been positive signals in household spending, the real-estate market, and the stock market this month. “I don’t think we can predict whether those are going to continue and this is going to be a V-shaped recovery or this is going to be a
sustained, prolonged depression,” he suggests.
May 25, 2020 | The Hill
Lost economic output in the U.S. is 5% of GDP, or $1.1 trillion for every month of the economic shutdown, according to research by John R. Birge of Chicago Booth, Ralph L. Keeney of Duke and the University of Southern California, and Alexandor Lipton of the Jerusalem Business School. The
researchers suggest that the stresses associated with this lost income results in lost lives.
May 24, 2020 | Financial Times
OECD member countries are expected to take on at least $17 trillion of extra public debt as they battle the economic consequences of the pandemic. Randall Kroszner, a professor at Chicago Booth and a former Federal Reserve governor, said the situation raises questions about the long-term
sustainability of high levels of public and private debt. “We have to face the hard reality we’re not going to have a V-shaped recovery,” he said.
May 22, 2020 | Chicago Tribune
As Chicago mayor Lori Lightfoot and Illinois governor JB Pritzker issue more PSAs and news conferences amid the COVID-19 crisis, Chicago Booth’s Pradeep K. Chintagunta says it offers the public a chance to get to know the first-time elected leaders. “In general, I think the main objective of a
public servant is to be in the minds and eyes of the public—that’s the most important thing,” he said.
May 22, 2020 | The Wall Street Journal
According to a study coauthored by Chicago Booth’s Joseph Vavra, 68% of laid-off workers are now making more unemployed as a result of enhanced benefits under the CARES Act.
May 22, 2020 | Forkast.News
China just piloted its new DCEP—the world’s first major central bank digital currency—in four cities. Chicago Booth economist Zhiguo He predicts it could take several years for the currency to reach the stage where it could be exported to countries doing business with China.
May 22, 2020 | Project Syndicate
Although the COVID-19 pandemic has shown that high-level coordination is sometimes necessary for managing emergencies, it has also underscored the risks of placing too much power in the hands of a central authority, suggests Chicago Booth’s Raghuram Rajan. He says the best approach is a middle
path, with a slight bias in favor of decentralization.
May 21, 2020 | The Wire
Raghuram Rajan, a professor at Chicago Booth and former governor of the Reserve Bank of India, says more needs to be done, and faster, if India’s economy is not to be reduced to a shadow of its former self.
May 20, 2020 | The New York Times
It isn’t socially acceptable to raise prices of essential items during an emergency, but Chicago Booth’s Richard Thaler says this social norm predictably leads to shortages like those seen during the early weeks of the coronavirus crisis in the United States.
May 20, 2020 | Chicago Magazine
As COVID-19 changes workers’ relationships with employers, Chicago Booth’s John Paul Rollert suggests it will also reshape government’s role in the workplace. “After this, we’re going to have a conversation about the types of social insurance we only see in northern Europe,” he said.
May 19, 2020 | Fortune
As conversations around COVID-19 become increasingly polarized, companies will have to think carefully about how they communicate their plans for resuming business. “If they’re not only doing the thing that one side opposes, but also speaking in a way that angers that side, they risk even more
criticism,” says Christopher Bryan of Chicago Booth. He recommends identifying and steering clear of word “land mines.”
May 19, 2020 | The New York Times
In a bid to soften the coronavirus’s economic blow, the government has stretched its financial safety net wide—from strategically sensitive companies to entire industries. “The ‘too big to fail’ that existed for banks has now extended to a lot of other firms,” said Chicago Booth’s Luigi Zingales,
who has long studied the interplay of government, regulation, and the private sector.
May 19, 2020 | CNN Business
The U.S. stock market’s recent rebound suggests that investors are optimistic about a rapid economic recovery from the coronavirus crisis. But Chicago Booth’s Randall Kroszner thinks this optimism may be misplaced. “It will take a long time for the economy to fully recover because there are
fundamental changes that are occurring. The ways people consume, travel, and work are going to change,” he said.
May 19, 2020 | CBS News
About 68% of unemployed workers who can collect unemployment will get benefits that top what they previously earned at work, according to Chicago Booth’s Pascal Noel and Joseph Vavra and the University of Chicago’s Peter Ganong. The economists said that the expanded unemployment aid has benefitted
the “lowest income workers, who might otherwise be especially hurt by this recession.”
May 18, 2020 | Forbes
The Rustandy Center for Social Sector Innovation at Chicago Booth hosted a webinar with Impossible CEO Patrick Brown to discuss the impact of animal agriculture on the environment and the company’s efforts to make a plant-based meat.
May 16, 2020 | The Washington Post
Chicago Booth’s Steven J. Davis says much of the federal government’s response to the pandemic has been “predicated on the idea that we’re just going to take a holiday for a few months and then go back to where we were.”
May 15, 2020 | HCP Live
In a recent study, Chicago Booth’s Emma Levine and coauthors found that people want expert guidance when making decisions about their medical care. “Our results suggest that advisees facing difficult decisions do not perceive autonomy as the gold standard,” Levine said.
May 15, 2020 | Pittsburgh Post-Gazette
A report coauthored by Chicago Booth’s Robert H. Topel recommends reopening the economy sooner rather than later for most age groups while isolating at-risk groups, including senior citizens.
May 15, 2020 | CNBC Power Lunch
Steven Davis of the University of Chicago Booth School of Business discusses his new study, which finds many of the jobs lost during the economy’s self-reduced recession may never come back.
May 15, 2020 | The New Yorker
Since the shutdowns began, many investors have taken advantage of this era of free trades, which began before the coronavirus pandemic hit, to exploit what they seem to view as a good money-making opportunity. When asked about the surge in online trading, Chicago Booth professor and Nobel laureate
Richard Thaler suggested getting rid of commissions shouldn’t have had a substantial impact.
May 15, 2020 | Forbes
A new study cowritten by Chicago Booth’s Constantine Yannelis found that the effectiveness of the stimulus checks varied widely depending on who received them.
May 15, 2020 | CNN Business
Pushing for negative interest rates could undercut President Trump’s efforts to instill confidence in the economy, Chicago Booth’s Randall S. Kroszner suggests. “It sends off a bad vibe that we’re in deep trouble and have no expectation of stronger economic growth,” he said.
May 15, 2020 | FiveThirtyEight
Using government data from 2019, a new analysis by the University of Chicago’s Peter Ganong and Chicago Booth’s Pascal Noel and Joseph Vavra estimates that 68% of unemployed workers who can receive benefits are eligible for payments that are greater than their lost earnings.
May 15, 2020 | Crain’s Chicago Business
If your company’s narrative is stopping you from planning effectively, Chicago Booth’s Reid Hastie advises incorporating more mathematical thinking in decision-making.
May 15, 2020 | Bloomberg
About 84% of Indian households saw their incomes fall last month under the world’s strictest shelter-at-home rules, and many won’t survive much longer without assistance, a study by the Chicago Booth’s Rustandy Center for Social Sector Innovation found.
May 14, 2020 | CNN Business
The global economy was caught flat-footed by COVID-19. Chicago Booth’s Raghuram G. Rajan and other leading economists share what the post-COVID economy will look like and what lessons should be learned.
May 14, 2020 | Fox32 Chicago
Carmelo Barbaro, executive director of the UChicago Poverty Lab, elaborates on his team's findings on how COVID-19 is disproportionately affecting Chicagoans based on race and gender.
May 14, 2020 | NPR 1A
In this series featuring podcast Pandemic Economics, in partnership with the Becker Friedman Institute at the University of Chicago, Chicago Booth's Erik Hurst discusses job losses and childcare concerns during the coronavirus crisis.
May 14, 2020 | The Wall Street Journal
Chicago Booth’s Abigail Sussman suggests that maintaining a savings mindset can help people stay focused on long-term goals. “Having higher-level savings goals in mind becomes really important in terms of keeping your eye on ‘How can I continue to be really making financially-wise decisions and
financially-efficient decisions, even if I’m taking on debt?’” Sussman said.
May 14, 2020 | Business Insider
In an interview with Business Insider, Chicago Booth’s Anil Kashyap shares his outlook for the U.S. economy and what policy prescriptions would be the most effective, including giving funds to businesses struggling with liquidity to buy them some time.
May 13, 2020 | The Washington Post
With lawmakers and the White House in a standoff about next steps in the pandemic, Chicago Booth’s Randall Kroszner suggests there’s a limit to what the Fed can do. “The Fed cannot cure the virus. The Fed can’t repair broken supply chains,” he said. “The Fed will do what it can, but it is not
all-powerful.”
May 13, 2020 | Crain’s Chicago Business
Uber’s plan to buy Grubhub raises antitrust concerns that could further complicate an already tricky all-stock deal. “I am sure the proposed deal will receive close antitrust scrutiny,” said Chicago Booth’s Chad Syverson. “It is basically a three-to-two merge ... It is unusual for such mergers to
be legally successful when proposed.”
May 13, 2020 | The Economic Times
Nearly 84% of households in India have suffered a decrease in monthly income during the lockdown and more than one-fourth of the working age population is unemployed, according to a new study by Chicago Booth’s Marianne Bertrand, the Wharton School’s Heather Schofield, and CMIE’s Kaushik Krishnan.
May 12, 2020 | Financial Times
Chicago Booth’s Raghuram Rajan says business reopening will likely be long drawn out. Many companies will have to change what they do and how they do it, while others will no longer be viable.
May 11, 2020 | CBS News
The volume of loans approved through the Small Business Administration’s Paycheck Protection Program dropped 84% last week. Noting the slowdown in lending, Chicago Booth’s Michael Minnis said demand for PPP loans may have peaked.
May 10, 2020 | The Economic Times
Raghuram Rajan, a professor at Chicago Booth and former governor of the Reserve Bank of India, has pitched for monetizing public debt and a higher fiscal deficit to protect the economy as well as the poor and the vulnerable during the pandemic.
May 10, 2020 | Associated Press
Dan Adelman, a professor at the University of Chicago Booth School of Business who teaches health care analytics, said the U.S. government is now buying more than twice the number of ventilators it needs, even under a worst-case scenario forecasting the spread of COVID-19.
May 08, 2020 | CNBC Squawk Box
Chicago Booth’s Austan Goolsbee joins BlackRock’s Kate Moore and former CEA chairman Glenn Hubbard on “Squawk Box” to give their initial reactions to the historic April jobs report.
May 08, 2020 | The Washington Post
The U.S. economy shed a record total of 20.5 million jobs in April as the unemployment rate hit its highest levels since the Great Depression. “You can’t understate how historic this change in the labor market is,” said Chicago Booth economist Erik Hurst. "It took the Great Depression 2.5 years to
see the employment declines we’re seeing in six weeks.”
May 08, 2020 | Crain’s Chicago Business
Amid the pandemic, the American labor market has deteriorated faster and on a grander scale than in any recent recession, according to a new study coauthored by Chicago Booth’s Erik Hurst. “There’s no panacea that we have in our toolkit that is going to stem 22 percent employment loss,” Hurst
said.
May 08, 2020 | Los Angeles Times
Chicago Booth's Steven J. Davis points to two federal aid programs that might only serve to slow recovery, rather than speed it.
May 08, 2020 | BloombergQuint
Chicago Booth’s Raghuram Rajan weighs in on whether the Indian central bank should monetize the government’s additional financing requirements during the crisis.
May 07, 2020 | Sinclair Broadcast Group
Steven J. Davis and colleagues put out a study predicting about 40% of layoffs made during the pandemic will be permanent.
May 07, 2020 | The New York Times
Erik Hurst reports that 40 percent of all the jobs lost so far are in firms that appear to have stopped operating, either temporarily or permanently, amid the crisis.
May 06, 2020 | CNN Business
As some states reopen parts of their economies, Chicago Booth’s Raghuram G. Rajan and other experts weigh in on whether consumer behavior will drive or stall our economic recovery.
May 06, 2020 | The New York Times
Research from Chicago Booth’s Sendhil Mullainathan and Devin Pope and the University of Chicago’s Katherine Baicker and Oeindrila Dube offers policy guidance for minimizing both the spread of the virus and the economic hardship of the pandemic.
May 05, 2020 | Marketplace
With a lot of job losses concentrated in lower income tiers, pandemic relief checks and jobless benefits are so important, says Chicago Booth’s Constantine Yannelis. He’s been studying how much of that money is being spent right away, and found much larger responses for people who have less than
$500 in their accounts.
May 05, 2020 | International Business Times
Throughout the country, consumers have shown little confidence to return to businesses when there is no vaccine or cure for COVID-19. “I think it’s going to be very hard to just go back to business as usual,” said Chicago Booth’s Randall Kroszner. “In many areas, particularly in the
consumer-facing areas, it’s going to be very different.”
May 05, 2020 | The New York Times
Social psychologists have found that when people are longing to socialize, they are more likely to perceive human-like traits in inanimate objects. After a month or more of social distancing, people may well be seeing more phantom faces than usual, says Chicago Booth’s Nicholas Epley.
May 04, 2020 | Medtech Dive
The federal government must coordinate a nationwide program that encourages states to exchange available ventilators based on their varied peaks in demand driven by the COVID-19 pandemic, according to a new research article by Chicago Booth professor Dan Adelman.
May 03, 2020 | The Wall Street Journal
Chicago Booth economist Joseph Vavra identified the six industries most vulnerable to coronavirus shutdowns: restaurants and bars, travel and transportation, entertainment, personal services, some retail, and some manufacturers.
May 03, 2020 | Financial Times
A handful of prominent financial and legal academics, including Chicago Booth’s Chang-Tai Hsieh, have offered up a solution to the looming debt crisis that would offer vital relief to many developing countries, avoid technical defaults, and appeal to many creditors.
May 02, 2020 | The Hill
As major retailers start to reopen, they face the challenge of convincing consumers it’s safe to make purchases in person. Chicago Booth’s Nicole DeHoratius suggests appointment shopping could be an effective approach. “It allows one to minimize contact with others and it helps with the
track-and-trace process should there be that need,” she said.
May 01, 2020 | The New York Times
Many Americans are already exhausted by the fight against COVID-19, but Chicago Booth economist Austan Gooslbee says that the government must maintain public support to limit the long-run damage precipitated by the virus.
May 01, 2020 | Chicago Tribune
Chicago Booth’s Nicholas Epley says that prior to the lockdown, we often connected with people accidentally—in a hallway, on a train, at a meeting. “These connections just happen. You don’t have to make a decision,” he said. “Now social connection is something you have to decide to do. Any
barriers in the choice are magnified.”
May 01, 2020 | The Benchmark
According to research by Chicago Booth’s Marianne Bertrand and UC Berkeley’s Adair Morse,
direct cash payments can help people reduce high-interest debt and improve their financial situation during a downturn.
May 01, 2020 | Crain’s Chicago Business
In Chicago and elsewhere, the business community and political leaders are grappling with how and when to reopen the economy. The fate of an economic recovery will rely heavily on public confidence, suggests Booth’s Eric Zwick.
April 30, 2020 | WGN News
The number one rule of virus economics has little to do with economics and everything to do with the virus, suggests Chicago Booth economist Austan D. Goolsbee.
April 30, 2020 | Health Affairs
In a new research paper, Chicago Booth’s Dan Adelman proposes that the federal government organize a national effort for ventilators to be exchanged between states in the absence of other viable solutions.
April 30, 2020 | Reuters
A group of economists and legal scholars, including Chicago Booth’s Chang-Tai Hsieh and Columbia University’s Patrick Bolton, drafted guidelines for a standstill on debt payments by some sovereign borrowers. Developing and emerging countries would use this money to fight the COVID-19 health
crisis.
April 30, 2020 | MarketWatch
The onset of the COVID-19 crisis led to a wave of earlier than planned retirements and a decline in labor-force participation, according to research from Chicago Booth’s Michael Weber, University of Texas at Austin’s Olivier Coibon, and University of California at Berkeley’s Yuriy Gorodnichenko.
April 30, 2020 | Quartz
“Decentralization of power” is the cure for India’s coronavirus-induced economic slowdown, according to Raghuram Rajan, the country’s former central bank governor and a professor at Chicago Booth. He said there’s a need to empower local governments, which are better placed to understand the needs
of people.
April 29, 2020 | Bloomberg Surveillance
Randall Kroszner, a professor and dean at Chicago Booth and former governor of the Federal Reserve, discusses how the Fed may unwind its balance sheet.
April 28, 2020 | Forbes
The Polsky Center for Entrepreneurship and Innovation, a top-ranked business accelerator at the University of Chicago, recently launched a free, week-long Small Business Bootcamp to provide support and guidance to small businesses affected by the pandemic. Over 1,200 participants were engaged by
Chicago Booth professors and business experts.
April 27, 2020 | Bloomberg Surveillance
Austan Goolsbee, an economist at the University of Chicago Booth School of Business, says historically, societies affected by plagues have taken on nationalistic behaviors.
April 27, 2020 | CNN Business
Leading economists, including Chicago Booth’s Raghuram G. Rajan, weigh in on how to restart the world’s largest economy and what setbacks to expect.
April 27, 2020 | Bloomberg
About 15% of small businesses in regions hit hardest by the coronavirus pandemic received funds from the Paycheck Protection Program, according to a study by Chicago Booth’s João Granja, Constantine Yannelis, and Eric Zwick and MIT Sloan’s Christos Makridis. In congressional districts least
affected, firms received double that share.
April 25, 2020 | The New York Times
As politicians and public health experts debate when to allow businesses to reopen, Chicago Booth economist Joseph S. Vavra suggests a gradual reopening will present challenges. “We live in an economy where there are lots of interconnections between different sectors,” he said.
April 24, 2020 | The New York Times
As companies struggle to conserve enough cash to stay afloat during the coronavirus recession, one thing they're cutting is their dividend. “What’s happening to dividends is rough for people who rely on them, but the issue is much less visible than it was a few decades ago,” said Chicago Booth
professor and Nobel laureate Richard Thaler.
April 23, 2020 | Project Syndicate
G20 governments recently agreed to suspend bilateral official loan repayments from 76 of the world’s poorest countries until the end of 2020. To enable emerging and developing economies to withstand the economic shock of COVID-19, the debt standstill must also include all private creditors,
suggests Chicago Booth’s Chang-Tai Hsieh and coauthors.
April 23, 2020 | Quartz
Along with the spike in U.S. jobless claims, there’s been a historic drop in the number of Americans looking for work. A new study coauthored by Chicago Booth’s Michael Weber finds that early retirements almost fully explain the decline.
April 22, 2020 | Vice
The biggest question facing the U.S. economy is when workers will be able to get back to work. To minimize the risk of an outbreak, employers will need to figure out the smallest number of people they need in the office for the business to function properly, said Chicago Booth’s Jonathan Dingel.
That group will rarely include anyone who can work from home.
April 22, 2020 | Washington Post
The Senate increased funding for the Paycheck Protection Program for small businesses. According to calculations by economists at Chicago Booth, including Michael Minnis, the funding boost gets the program in the neighborhood of the $720 billion it needs to keep eligible companies afloat until
early summer.
April 22, 2020 | Politico
Austan Goolsbee, a professor at Chicago Booth and former chairman of the Council of Economic Advisers in the Obama administration, spoke with Politico’s chief economic correspondent about the pandemic’s impact on the United States and the latest efforts to reopen the economy.
April 22, 2020 | The Economic Times
Raghuram Rajan, a professor at Chicago Booth and former governor of the Reserve Bank of India, said nationalism that was already pretty strong before the virus is getting accentuated by the effects of COVID-19.
April 21, 2020 | Chicago Tribune
Michael Minnis, an accounting professor at University of Chicago’s Booth School of Business, has published research calculating it will take about $720 billion to assist all small businesses that might apply for a loan, leaving a potential funding gap of as much as $60 billion.
April 21, 2020 | Wirecutter
“Many banks have reduced margins on existing credit card borrowers,” said Booth professor Michael Weber.
April 21, 2020 | Associated Press
Michael Minnis, who has studied the SBA program as an accounting professor at the University of Chicago Booth School of Business, said he understood the frustrations of smaller businesses that have not received funding when publicly listed companies have. But he said it would be hard to go into
the program and change the parameters now.
Booth professor Michael Minnis estimates the program might need to dispense $720 billion to meet demand.
April 20, 2020 | Automotive News
Booth professor and former White House adviser Austan Goolsbee says for industry rescues to be successful, the wider economy must also be restored.
April 17, 2020 | CBS News
Professor Michael Minnis has co-authored a preliminary study on the Paycheck Protection Program and sees few links between where the biggest economic need is during the COVID-19 crisis and where the government funds are going.
April 17, 2020 | Channel News Asia
Loud neighbors may be impeding the success of home-based learning and telecommuting during stay-at-home measures. Recent work by Joshua T. Dean, an economist and behavioral scientist at Chicago Booth, shows that exposure to noise lowers worker productivity and decreases cognitive functioning.
April 17, 2020 | Crain's Chicago Business
Even when we know logically that sharing negative information or learning from it is for the best, we tend not to do it, says Chicago Booth professor Ayelet Fishbach.
April 16, 2020 | CNBC Squawk Box
Austan Goolsbee, a professor at Chicago Booth and former chairman of the White House’s Council of Economic Advisors, joins fellow economic experts on Squawk Box to discuss the latest weekly jobless claims amid the coronavirus crisis.
April 16, 2020 | Chicago Tribune
A diversity and inclusion nonprofit wants to bring the Hispanic community together under one symbol, but Chicago Booth’s Pradeep Chintagunta says these types of broad campaigns tend to have a hard time. “One of the biggest challenges for this community is that you are trying to appeal to a diverse
group,” he said.
April 16, 2020 | The Indian Express
As it becomes clear that the lockdown will go on for quite a while, Raghuram G. Rajan says that a huge number of people will be pushed into dire poverty or even starvation by the loss of their livelihoods and by interruptions to delivery mechanisms.
April 15, 2020 | Wall Street Journal
With little or no money set aside before the pandemic, many Americans will fall behind on their bills. One of the reasons for the savings shortage has to do with the continuing effects of the debt that households accumulated before the 2007–09 recession, suggests a new paper coauthored by Chicago
Booth’s Amir Sufi.
April 15, 2020 | Channel News Asia
Randall S. Kroszner, deputy dean and professor of economics at the University of Chicago Booth School of Business, discusses the proposed debt moratorium and how it will help struggling economies during the COVID-19 pandemic.
April 15, 2020 | NBC News
Anil Kashyap, an economics professor at Chicago Booth, said it’s fair to say the economy won’t be booming by the end of the year. “The economy’s in free fall right now. It’s hard to imagine that ceasing when the right thing for people to do is stay home,” he said.
April 15, 2020 | Chicago Sun-Times
According to Chicago Booth’s Jonathan Dingel, new college graduates could see a loss in earnings throughout their careers as a result of the pandemic. “Just getting your first step on that job ladder is more difficult when we’re in tough economic times, so unfortunately people that are just
entering the labor force right now [are] going to find it to be quite difficult,” he said.
April 15, 2020 | Reuters
While banks have welcomed the option to delay adopting the U.S. accounting standard-setter’s new credit loss rules until the end of the national emergency, Chicago Booth’s Haresh Sapra suggests the legislative effort may have been misguided.
April 14, 2020 | Forbes
A new study from Chicago Booth professors Jonathan Dingel and Brent Neiman finds that industries where telework is a practical option tend to employ better-educated workers. Among the ones least amenable to telework employ large numbers of low-wage older workers.
April 14, 2020 | The New York Times
During the global health crisis, people are looking for anything to stabilize themselves, even superstition, suggests Jane Risen, a professor of behavioral science at Chicago Booth. “We like to be able to predict and control our environments, and even an illusory sense of predictability is better
than not having any,” she said.
April 12, 2020 | Wall Street Journal
Stefan Nagel of Chicago Booth and Ulrike Malmendier of the University of California, Berkeley, find that long-term attitudes toward risk are affected by the personal experience of investing when younger. “It’s this younger generation that over the next year will tend to be more pessimistic about
returns and risky assets and choose more conservative portfolios,” Nagel said.
April 10, 2020 | Phys.org
According to research co-authored by a Chicago Booth economist Constantine Yannelis, stay-at-home orders spurred distinctive spending across gender and age demographics, income groups, and political affiliation. “These spending habits tell us more about how and when U.S. households reacted to the
growing crisis,” said Yannelis.
April 10, 2020 | BloombergQuint
International Monetary Fund managing director Kristalina Georgieva named Chicago Booth’s Raghuram Rajan, former governor of the Reserve Bank of India, to her external advisory group to provide his perspective on key developments and policy issues, including responses to the coronavirus pandemic.
April 10, 2020 | MSNBC 11th Hour
Booth’s Austan Goolsbee threw cold water on the growing White House narrative that the nationwide lockdown could end in just a few weeks, pointing out that aspirational economic timelines won’t survive against a public health crisis.
April 09, 2020 | BBC News
The coronavirus was “taken a little more lightly” by western economies compared to those in Asia, says former IMF chief economist Raghuram Rajan.
April 09, 2020 | CNBC Squawk Box
Chicago Booth’s Austan Goolsbee joins Columbia Business School’s Glenn Hubbard and BlackRock’s Kate Moore to discuss the latest weekly jobless claims amid the pandemic as well as the Federal Reserve’s series of loan programs.
April 09, 2020 | Forbes
The percentage of jobs that can be completed from home is rising fast, according to a new working paper released by University of Chicago economists Jonathan Dingel and Brent Neiman.
April 09, 2020 | The New York Times
An analysis by Booth economists of data from Homebase, which supplies scheduling software for small businesses that employ hourly workers, suggests more than 40% of those firms have closed since the crisis began.
April 09, 2020 | Project Syndicate
Booth’s Chang-Tai Hsieh suggests that the International Monetary Fund should coordinate a broad debt moratorium as developing-country governments focus huge sums on keeping citizens healthy.
April 08, 2020 | Barron’s
While the CARES Act provides $349 billion for small-business loans, two features of the program may prevent it from helping as many businesses as it could, suggest John Barrios and Michael Minnis of Chicago Booth and Petro Lisowsky of the Boston University Questrom School of Business.
April 08, 2020 | Yahoo! Finance
Randall Kroszner, former Federal Reserve governor and deputy dean at Chicago Booth, breaks down what’s next for the Fed and small businesses as the coronavirus outbreak continues to spread globally. He joins Yahoo Finance’s On the Move panel to discuss.
April 07, 2020 | The Washington Post
Booth’s panel of economic experts explained that the economy cannot be restarted until people are confident they can return to communal life. Many of the experts, including Booth professor Austan Goolsbee, empasized the need for more tests.
April 06, 2020 | The Washington Post
Marianne Bertrand, a professor at Chicago Booth, says policymakers have tools at their disposal to improve the lot of low-wage workers who do the economy’s most essential jobs. Whether the pandemic changes their inclination to use those tools remains to be seen.
April 06, 2020 | The Economic Times
Chicago Booth professor Raghuram Rajan suggests that the coronavirus may be the greatest emergency India has faced since Independence. However, he believes that “with the right resolve and priorities, and drawing on India’s many sources of strength, it can beat this virus back, and even set the
stage for a much more hopeful tomorrow.”
April 05, 2020 | The New York Times
Chicago Booth’s Chang-Tai Hsieh worries that simply protecting jobs, or the income of newly jobless workers, isn’t enough to combat COVID-19’s economic shock. The University of Chicago’s Michael Greenstone worries that policymakers aren’t thinking through the current containment policy until the
end.
April 05, 2020 | Financial Times
“Sharing the risk of idiosyncratic shocks makes perfect economic sense and is not the type of transfer justifiably feared by northern Europeans,” writes Chicago Booth professor Luigi Zingales. “It also makes perfect political sense.”
April 02, 2020 | MSNBC 11th Hour
Has the president done enough to deal with the economic crisis the coronavirus pandemic is creating? Austan Goolsbee, professor at Chicago Booth and former chairman of the Council of Economic Advisers to President Obama, discusses on the 11th Hour.
April 02, 2020 | BuzzFeed News
Luigi Zingales, a finance professor at Chicago Booth, told BuzzFeed News that we don’t know yet how effective the CARES Act will be but added it wasn’t targeted at the right industries. “I see this as purely an electoral move, which is not justified from an economic point of view,” he said.
April 01, 2020 | Wall Street Journal
“The legal system will buckle without a simple means for commercial tenants and their landlords to renegotiate leases,” write Richard Thaler, a professor at Chicago Booth, and Jeff Severts, executive director of the University of Chicago’s Center for RISC. Together with Booth’s Steven Levitt and
Sendhil Mullainathan, they created a simple, customizable one-page lease addendum.
April 01, 2020 | Chicago Booth Review
The medical crisis created by COVID-19 is creating pressure for countries to move toward isolationism. But Chicago Booth’s Raghuram G. Rajan points out that the coronavirus is a global problem, and solving it will require international cooperation.
March 30, 2020 | Wall Street Journal
While government intervention is needed to address the pandemic, Luigi Zingales of Chicago Booth and Amit Seru of Stanford suggest the CARES Act (Coronavirus Aid, Relief, and Economic Security) isn’t the right way to go about it. “Since the lockdowns constrain supply, stimulating demand would lead
only to a rise in prices,” they said.
March 30, 2020 | Los Angeles Times
A panel of 44 economists assembled by the Chicago Booth School of Business agreed that the economic impact would be even worse if stringent rules were abandoned while the likelihood of a resurgence in infections remains high.
March 30, 2020 | Wall Street Journal
While millions of workers are working remotely now, just 34% of American jobs can plausibly be performed at home, University of Chicago economists Jonathan Dingel and Brent Neiman estimate.
March 29, 2020 | VOX
Chicago Booth routinely polls a panel of distinguished economists for their views on policy issues, and found near-universal assent to the notion that prematurely ending lockdown measures would ultimately be more economically costly than allowing them to proceed.
March 27, 2020 | Barron’s
Raghuram Rajan, an economist who sounded a warning ahead of the 2008 financial crisis, says the U.S. isn’t in a full-blown financial crisis yet, and could avoid a repeat of what happened 12 years ago by moving decisively to contain the coronavirus and the economic fallout.
March 27, 2020 | Forbes
While President Trump floated the idea of easing up on social distancing, economists from the University of Chicago’s Becker Friedman Institute found that moderate social distancing measures could save 1.7 million lives and at least $7.9 trillion. Booth professor Austan Goolsbee said, “Anything
that slows the rate of the virus is the best thing you can do for the economy.”
March 26, 2020 | NPR All Things Considered
NPR’s Ari Shapiro talks with Austan Goolsbee, former chair of the Council of Economic Advisers and professor at Chicago Booth, about the economic relief package moving through Congress.
March 26, 2020 | CNBC Squawk Box
Glenn Hubbard and Chicago Booth professor Austan Goolsbee, both former chairmen of the Council of Economic Advisers, join “Squawk Box” to discuss the historic weekly jobless claims that correspond with the beginning of the U.S. response to the coronavirus outbreak.
March 26, 2020 | Financial Times
An associate professor of finance at the University of Chicago Booth School of Business, Wenxin Du explains how regulatory banking reforms and the growth of non-banks have made a global dollar shortage even more difficult to address now than in 2008.
March 25, 2020 | Yahoo! Finance
Austan Goolsbee, Chicago Booth professor of economics and former Council of Economic Advisors chairman under President Obama, joins Yahoo Finance’s Seana Smith to discuss the $2 trillion coronavirus stimulus deal facing a vote in the Senate.
March 25, 2020 | BBC World Business Report
As India enters lockdown, is $20 billion enough to get it through the COVID-19 crisis? Raghuram Rajan, Chicago Booth professor and former governor of the Reserve Bank of India, joins the BBC to discuss.
March 25, 2020 | Business Insider
Austan Goolsbee, professor at Chicago Booth and former economic advisor to President Obama, says “the number one rule of virus economics is that you have to stop the virus before you can do anything about economics.”
March 25, 2020 | Bloomberg Surveillance
Raghuram Rajan, finance professor at the University of Chicago Booth School of Business and former governor of the Reserve Bank of India, discusses the need to help poorer nations and emerging economies combat the coronavirus pandemic.
March 24, 2020 | Bloomberg Surveillance
On the Bloomberg Surveillance podcast, Randall Kroszner, professor at Chicago Booth and former Federal Reserve board member, says the Fed’s actions have been crucial in avoiding a financial crisis so far.
March 24, 2020 | The New York Times
Chicago Booth economists Sendhil Mullainathan and Richard H. Thaler suggest suspending five types of regulations that are slowing the medical response to the pandemic, including medical licensing that prevents qualified professionals from practicing outside their state.
March 23, 2020 | BNN Bloomberg
Raghuram Rajan, former governor of the Reserve Bank of India, former chief economist at IMF, and current professor at the University of Chicago Booth School of Business, joins BNN Bloomberg to discuss the major U.S. Fed plans to support the economy amid COVID-19.
March 23, 2020 | Forbes
As the impact of COVID-19 rapidly unfolds, tech companies are seeking insight into their financial futures. Ira Weiss, a professor at Chicago Booth and cofounder of Hyde Park Venture Partners, says that while investors often go inward during a bad downturn, “you also have opportunities to get
involved in companies you’ve always wanted to be involved in financially.”
March 23, 2020 | Associated Press
Tensions have been rising between those who argue the country needs to get back up and running and medical experts who warn that the human cost will be catastrophic. Austan Goolsbee, an economist at the University of Chicago, has repeatedly emphasized that halting the outbreak is needed so that
growth can resume.
March 22, 2020 | The New York Times
Joseph S. Vavra, an economist at the University of Chicago Booth School of Business, said that policymakers typically try to stimulate consumer demand during a recession and start recovery as quickly as possible. Right now, the goal is almost the opposite.
March 21, 2020 | MarketWatch
Chicago Booth professor Luigi Zingales says the U.S. economy is likely to experience the largest contraction since the Great Depression. He shares measures the government can take to mitigate the coronavirus’s impact on the economy.
March 20, 2020 | Financial Times
“Policymakers everywhere now understand no country is immune from coronavirus,” writes Raghuram Rajan, professor of finance at Chicago Booth. He asserts that the response finally corresponds to the size of the challenge as industrial countries work to contain the virus’ spread while limiting the
disruption to households and businesses.
March 20, 2020 | Crain’s Chicago Business
The coronavirus has dealt a heavy blow to public transit systems. What if some workers continue to work remotely after the crisis ends? “Working from home used to be something many were frowning upon because they worried it would be abused,” says Michael Gibbs, a professor at Chicago Booth. “Some
places will adopt it; some won’t.”
March 20, 2020 | Barron’s
The impending recession caused by the coronavirus will hit some households and firms harder than others. According to Chicago Booth professor Joseph Vavra, the most effective stimulus policies should focus on getting cash and liquidity to those most in need.
March 20, 2020 | Fox Business
Raghuram Rajan, the former head of India’s central bank and a professor of finance at Chicago Booth, discusses how the U.S. can avert a global financial and economic crisis in the face of the coronavirus outbreak.
March 20, 2020 | Al Jazeera English
Across the United States, Mexico and Canada, car companies are temporarily suspending their operations to help stop the spread of the coronavirus pandemic. Chicago Booth professor Pradeep Chintagunta joins Al Jazeera’s John Hendren to discuss.
March 19, 2020 | Chicago Booth Review
Governments around the world are deploying policies to deal with the crisis created by COVID-19. Chicago Booth professors Eric Budish, Anil K. Kashyap, Ralph S.J. Koijen, and Brent Neiman share why many normal macroeconomic policies don’t apply in the current situation.
March 19, 2020 | The New York Times
The economy relies on thousands of local operations that need urgent help even more than big companies do, according to Chicago Booth professor Sendhil Mullainathan. While some harm has already been done, he says we can still prevent much of the long-lasting damage from the coronavirus.
March 18, 2020 | CNBC (Squawk Box Asia)
In addition to helping tide companies over during the coronavirus outbreak, U.S. stimulus measures should provide direct cash transfers to distressed households, says Raghuram Rajan, a professor at Chicago Booth and former governor of the Reserve Bank of India.
March 17, 2020 | Yahoo! Finance
The Federal Reserve announced it’s repeating a financial crisis policy that will create a commercial paper funding facility to support the flow of credit to households and businesses. Randall Kroszner, deputy dean and professor of economics at Chicago Booth, discusses this move on The Ticker.
March 17, 2020 | Los Angeles Times
President Trump’s proposal to send checks to Americans seems like it could be effective, suggests Randall Kroszner, a former Federal Reserve governor and a professor at Chicago Booth. But, he said, “if such a program is done, it has to get the money out super quickly. That is the key thing for
people who are strained and have few assets.”
March 17, 2020 | The New York Times
Economic activity will be severely constrained until the virus is under control and people no longer fear for their lives, suggests Austan Goolsbee, a University of Chicago economist who worked in the Obama administration. “Anything that slows the rate of the virus is the best thing you can do for
the economy, even if by conventional measures it’s bad for the economy,” he said.
March 17, 2020 | The Print
Raghuram Rajan, professor of finance at Chicago Booth, points out that if there is a “silver lining” to the coronavirus pandemic, “it is the possibility of a much-needed reset in public dialogue that focuses attention on the most vulnerable in society, on the need for global cooperation, and on
the importance of professional leadership and expertise.”
March 16, 2020 | Foreign Policy Magazine
Global markets collapsed again on Monday, despite the U.S. Federal Reserve’s dramatic weekend rate cut. “Whenever you’re in a crisis, I think stimulus can’t work until you tone down the public panic about the virus,” said economist Austan Goolsbee of Chicago Booth.
March 16, 2020 | Irish Examiner
The COVID-19 outbreak has reasserted our need for expertise and for leadership that protects the most vulnerable in society, says Raghuram Rajan, former governor of the Reserve Bank of India and a professor of finance at the University of Chicago Booth School of Business.
March 16, 2020 | WTTW
U.S. stocks plunged nearly 13% Monday as fears over the potential health and economic impacts of the coronavirus drove panic selling. Steven Kaplan, a professor of entrepreneurship and finance at Chicago Booth, said the Fed has little ability to boost economic activity at the moment, but it can
keep the financial system solvent and credit available.
March 15, 2020 | Financial Times
The world economy has fallen into a recession as a result of the coronavirus and the dramatic action to limit its spread, according to former IMF chief economists. Chicago Booth professor Raghuram Rajan said the depth of any economic hit would depend on the authorities’ success in containing the
pandemic.
March 15, 2020 | CNBC
While the Fed’s emergency moves will help narrow spreads in mortgage-backed securities, former Fed governor and Chicago Booth professor Randy Kroszner says the U.S. central bank could still revive some of its crisis-era programs specific to the commercial paper market.
March 09, 2020 | TheStreet
The panic over the Dow Jones’ slumping numbers has everyone on edge. “Volatility means movement,” said Lubos Pastor, a professor with the University of Chicago’s Booth School of Business. “It does not mean movement up, or movement down. It means movement in both directions, and I think the last
three or four days are a perfect example of that.”
March 09, 2020 | MSNBC
Austan Goolsbee, an economics professor at the University of Chicago and former chairman of the Council of Economic Advisers for President Obama, explains why President Trump’s proposal for a payroll tax cut will not help counter economic damage from the coronavirus.
March 09, 2020 | CNBC
Randall Kroszner of the University of Chicago Booth School of Business joins “The Exchange” to discuss what the Fed needs to do to help the U.S. economy.
March 06, 2020 | The New York Times
Austan Goolsbee, a professor of economics at the University of Chicago’s Booth School of Business, uses empirical evidence to suggest the coronavirus could have more damaging repercussions on the U.S. than China.
March 06, 2020 | Los Angeles Times
Steven Kaplan, a professor and corporate governance expert at the University of Chicago’s Booth School of Business, weighs in on Walt Disney Co.’s surprise appointment of Bob Chapek as chief executive. “Chapek is very good on the execution side,” says Kaplan. “He makes decisions and gets things
done.”
March 03, 2020 | CNBC
Randall Kroszner, former governor of the Federal Reserve and deputy dean at the University of Chicago Booth School of Business, joins “Squawk on the Street” to discuss the surprise interest rate cut announced by the Federal Reserve.
March 02, 2020 | Chicago Booth Review
Chicago Booth’s Lubos Pastor and Pietro Veronesi are among the researchers studying the implications of both the U.K. and U.S.’s embrace of populism and shunning of globalization. “As economists, we have been taught to think that globalization is good, because people get to specialize, and you
have free trade, and that’s a way of making somebody better off without making anybody worse off,” says Pastor.
February 29, 2020 | Philanthropy News Digest
¶ş±ĆÖ±˛Ą has announced a $3.5 million gift from alumnus Frank Diassi, ’60, and his late wife, Marianne, to fund the Frank P. and Marianne R. Diassi Distinguished Service Professorship.
February 27, 2020 | Bloomberg
Booth professor Raghuram Rajan says the best economic tonic for the coronavirus shock is to contain its spread and worry about stimulus later.
February 24, 2020 | Financial Times
The sequel to Thomas Piketty’s 2013 book "Capital in the Twenty-First Century" concludes that "inequality is a real problem today, but it is the inequality of opportunity, of access to capabilities, of place, not just of incomes and wealth," according to Raghuram Rajan, a former governor of the
Reserve Bank of India and professor at Chicago Booth.
February 24, 2020 | Vancouver Sun
In a January speech, University of Chicago economist Marianne Bertrand said the birth of a first child has essentially no effect on a man’s earning trajectory and that decisions made around motherhood make up the largest contributor to the gender gap, especially among educated women in the
highest-earning categories.
February 21, 2020 | Institutional Investor
A working paper from the National Bureau of Economic Research, co-authored by the University of Chicago's Steven Kaplan, finds that private equity performance tends to drop after periods of strong fundraising.
February 21, 2020 | MarketWatch
A new paper co-authored by academics Anil Kashyap of the University of Chicago Booth School of Business, Stephen Cecchetti of Brandeis International Business School, and Kermit Schoenholtz of the NYU Stern School of Business and by private-sector economists Michael Feroli of J.P. Morgan Chase and
Catherine Mann of Citigroup reveals that the Federal Reserve should use the same tools to fight the next recession that they developed during the financial crisis.
February 20, 2020 | The Economist
A recent study by Brent Neiman of the University of Chicago, Antonio Coppola of Harvard University, Matteo Maggiori of Stanford University, and Jesse Schreger of Columbia University tries to determine the dramatic rise in the share of cross-border investments flowing through tax havens between
2007 and 2017.
February 20, 2020 | Ignites
Loss aversion may explain why more survey respondents said they want employers’ help with their student loans rather than with saving for retirement, says Ayelet Fishbach, professor of behavioral science and marketing at the University of Chicago Booth School of Business.
February 14, 2020 | Crain's Chicago Business
Ann McGill, a professor of general management, marketing and behavioral science at the University of Chicago’s Booth School of Business, provides an important lesson on what makes for a powerful logo and when it has the potential to all go wrong.
February 05, 2020 | Bloomberg
On this episode of Bloomberg Big Decisions, David Westin sits down with Dr. Richard Thaler, renowned behavioral economics professor and 2017 Nobel Laureate. He discusses his early influences, what led him down the path of behavioral economics, how he uses that lens to explain why people make the
decisions they do, and how it can help steer investment decisions.
February 14, 2020 | The New York Times
Austan Goolsbee, a professor of economics at the University of ChicagoĘĽs Booth School of Business, says that big-box stores, income inequality and services-instead-of-things are largely to blame for killing malls.
February 12, 2020 | Becker's Health IT
The annual Financial Trust Index Survey, conducted in December by the University of Chicago Booth School of Business and Northwestern University's Kellogg School of Management, reveals that 90% of Americans would refuse to share their health data with digital platforms for free.
February 11, 2020 | InsideHook
Christina Hachikian, executive director of the Rustandy Center for Social Sector Innovation at the University of Chicago Booth School of Business, sees equality in wealth building as one of the biggest challenges facing the Windy City over the next decade.
February 11, 2020 | Scientific American
Sendhil Mullainathan, a professor of computation and behavioral science at the University of Chicago Booth School of Business, helps clue us in on what "survivorship bias" is.
February 11, 2020 | Wall Street Journal
Looser capital requirements would spur lenders to provide more loans, strengthening their bottom line and aiding the economy, said Haresh Sapra, an accounting professor at the University of Chicago, in a story about a new accounting standard on credit losses.
February 06, 2020 | Bloomberg
The University of Chicago’s Eugene Fama examines the evolution of value investing over the last 60 years. He determines that “the initial tests confirm that realized value premiums fall from the first half of the sample to the second, but inferences from average premiums are clouded by the high
volatility of monthly premiums.”
February 05, 2020 | Wall Street Journal
The industrial revolution in services has allowed the most productive firms in an industry to out grow their competitors and claim large shares of the national market, according to Chang-Tai Hsieh, an economics professor at the University of Chicago's Booth School of Business.
February 05, 2020 | Central Banking
Chicago Booth professor Brent Neiman, along with Matteo Maggiori and Jesse Schreger, was recognized with the Economics in Central Banking award for work that has helped pick apart the tangled network of cross-border capital flows and may prove essential to those looking to shore up the
international monetary system.
January 27, 2020 | Financial Times
A new paper written by Chicago Booth's Eric Budish and Matteo Aquilina and Peter O’Neill of the UK’s Financial Conduct Authority homes in on tactic known as latency arbitrage.
January 27, 2020 | CNBC
China’s mostly “inward-directed” economy is likely to take a hit in the short term from reduced tourism and travel due to the coronavirus outbreak. The long-term impact is probably “negligible” if the virus can be contained, says Austan Goolsbee, an economics professor from Chicago Booth.
January 17, 2020 | Chicago Tribune
The debate rages about how and if the Oscar-nominated "The Irishman" can earn money for Netflix and, if so, how much. Pradeep Chintagunta, marketing professor at the University of Chicago Booth School of Business, plays a bit of devil's advocate.
January 17, 2020 | Crain's Chicago Business
Despite knowing that businesses need to stay ahead of the curve in order to stay relevant, many are reluctant to do so, according to Pradeep Chintagunta, the Joseph T. and Bernice S. Lewis Distinguished Service Professor of Marketing at the University of Chicago’s Booth School of Business
January 16, 2020 | Fox Business Network
Former Council of Economic Advisers chair and Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business Austan Goolsbee provides insight into the efficiency of phase one of the US-China trade deal and the USMCA.
January 16, 2020 | NPR
Steve Kaplan at the University of Chicago's Booth School of Business debates the future of Boeing with NPR host Mary Louise Kelly in the aftermath of the Boeing 737 plane crash and introduction of a new CEO.
January 14, 2020 | Bloomberg TV
Randall Kroszner, a former Federal Reserve governor and now deputy dean for executive programs at the University of Chicago Booth School of Business, talks about the trade negotiations between the world's two largest economies, the outlook for U.S. growth and monetary policy. He speaks with Yvonne
Man and Haslinda Amin on "Bloomberg Markets: Asia."
January 07, 2020 | Financial Times
Former Fed chairs fear that should an economic downturn occur, the Fed may not be able to handle it alone. Raghuram Rajan, former governor of the Reserve Bank of India, now at the University of Chicago Booth School of Business, says "they can't announce too loudly they have no tools left."
January 07, 2020 | Investor Place
Eugene Fama, professor of finance at Chicago Booth, says buybacks shouldn't be a source of worry in an article focusing on the history of stock buybacks and what it means for present day.
January 01, 2020 | The New York Times
Honesty is the best policy as a New Year's resolution, with Emma Levine, an assistant professor of behavioral science at the University of Chicago Booth School of Business, revealing that understanding the intentions of the deceiver often informs how we regard the deception.
January 01, 2020 | The Washington Post
Christopher J. Bryan, an assistant professor of behavioral science at the University of Chicago Booth School of Business, addresses researchers’ concern that current school-based nutrition education for teens is less focused on media literacy and more on making better food choices for future
long-term health.
Contact Us
Ready to connect with a faculty expert or learn more about Chicago Booth? We’re here for your PR needs.