New York Times - Jul 10, 2015 - Austan Goolsbee, an economist at the University of Chicago, offered one reason rich European countries might sign up for a fiscal union: They like a trade advantage they get from the euro.
New York Times - Jun 27, 2015 - Vocal cues “show that we are alive inside — thoughtful, active,” said Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business and one of two co-authors of the paper, “The Sound of Intellect,” published in Psychological Science this month. “Text strips that out,” he added.
New York Times - Jun 19, 2015 - Another study, led by David Tannenbaum of the University of Chicago (Chicago Booth postdoctoral scholar), finds that both Republicans and Democrats frequently approve of soft interventions, such as automatic enrollment in government programs, even though their views can also be affected by whether they think that such interventions will support their own policy preferences.
Wall Street Journal - Jun 19, 2015 - Stephen Davis, an economist at the University of Chicago, found that as of April the average job sat vacant for 27.3 days before being filled, nearly double the 15.3 days it took to fill a job in mid-2009. Mr. Davis’s research, published regularly as the DHI Hiring Indicators report, shows that the rise has occurred across industries, regions and firms of different sizes.
New York Magazine - Jul 05, 2015 - “When one buys an experience, they seem to be buying themselves a story as well,” said Dr. Amit Kumar, a social psychologist and postdoctoral researcher at the University of Chicago’s Booth School of Business who studies the relationship between money and happiness. “So one way vacations continue to provide hedonic benefits even after they've long since passed is because they live on in the stories we tell.” Also in Boston.com.
Washington Post - Jun 26, 2015 - I recently had the privilege of sitting down for a chat with Richard Thaler, professor of the Booth School of Business at the University of Chicago. Thaler is widely recognized as the father of behavioral economics. He is perennially on the short list for a Nobel Prize in economics.
Washington Post - Jun 29, 2015 - It wasn't that long ago that Austan Goolsbee worked in the White House, as President Obama's top economist, and a financial crisis in Greece was threatening the global economy. Now Goolsbee is back teaching at the University of Chicago, Obama is halfway through his second term ... and Greece is rearing up again.
Washington Post - Jun 18, 2015 - Working wives, who are contributing to the financial welfare of their families, are not to blame. Traditional gender norms can make it harder for female breadwinner families. But when she earns more than he does, husbands and wives were less likely to report they are “very happy,” more likely to report they have had marital troubles, and more likely to indicate they have discussed separating in the past year, according to a University of Chicago study (Prof. Marianne Bertrand) looking at couples about 25 years ago.
Washington Post Wonkblog - Jul 03, 2015 - Anil Kashyap of the University of Chicago Booth School of Business has released an excellent primer of his own that's worth a read. Kashyap wrote the piece last weekend, before Greece officially defaulted June 29 on a key payment to the International Monetary Fund, and the situation continues to evolve into the weekend.
CNBC Squawk Box - Jul 14, 2015 - Austan Goolsbee, Booth School of Business, provides three reasons the Fed should hold off raising rates. Also in Yahoo Finance.
CNBC - Jul 13, 2015 - John Cochrane, Univ of Chicago Business School, joins CNBC's Rick Santelli to discuss what Greece has been dealt over the last few years and how it is playing out currently. Also in Yahoo Finance.
CNBC (video) - Jul 02, 2015 - "The job market has been growing at a rate that sort of corresponds with maybe 3.5 percent or 4 percent," said Austan Goolsbee... "[But] GDP is growing at a rate, let's call it, 2.5 percent." The professor at The University of Chicago Booth School of Business told "Squawk Box," "The real puzzle is do you think growth is going to go up to where the jobs are or do you think job growth is going to come down to where the GDP is." Also in Yahoo Finance (US, Australia and India).
CNBC (video) - Jul 02, 2015 - Mark Zandi, Moody's Analytics, Kevin Hassert, American Enterprise Institute, and Austan Goolsbee, Chicago Booth School of Business, discuss their views on the current job market.
CNBC - Jul 01, 2015 - Luigi Zingales, co-author of Saving Capitalism and a professor at University of Chicago Graduate School of Business, says he would consider high-yield bonds for his pension. Article also in Yahoo Finance.
CNBC (includes video clip) - Jun 17, 2015 - Austan Goolsbee, University of Chicago Booth School, and Douglas Holtz-Eakin, American Action Forum, debate whether the Affordable Care Act limits freedom and hurts job growth. Originally aired on CNBC June 10th.
NPR (audio) - Jun 17, 2015 - After a two-day meeting with policymakers adjourned Wednesday, Federal Reserve Chair Janet Yellen said the economy is moving in the right direction but continues to recover. Randy Kroszner, University of Chicago Booth economist, provides some commentary.
Money-MSN - Jul 10, 2015 - To be sure, momentum strategies have their detractors. But, according to an impressive article in the latest issue of the Journal of Portfolio Management by alumnus Clifford Asness, Andrea Frazzini, Ronen Israel and professor Tobias Moskowitz, the detractors’ arguments don’t hold water. (The four authors, principals at AQR Capital Management, have strong academic credentials. Frazzini and Moskowitz are finance professors at Yale and the University of Chicago, respectively.) Also in Morningstar.
Fox Business - Jul 02, 2015 - Another 400,000 people have left the job market but University of Chicago Booth School of Business Professor Austan Goolsbee says “it’s not bad.” He told FOX Business Network’s Charles Payne “it’s just about what was expected… We are still on path of generating something like two and half million jobs a year -- which is a decent year.” Also on Bullfax (Bulgaria).
Los Angeles Times - Jul 14, 2015 - Although fees have become a prominent part of recent discussion about CalPERS' private equity portfolio, Steven N. Kaplan, a professor of finance at the University of Chicago, said they aren't the main issue.
Los Angeles Times - Jun 22, 2015 - With the public markets on the sidelines, Steven N. Kaplan, a professor of entrepreneurship at the University of Chicago, said risks in the private market remain largely confined to the investors themselves.
Los Angeles Times - Jun 20, 2015 - An individual animal story lets us put ourselves in their "shoes," says Nicholas Epley, a professor of behavioral science at the University of Chicago. "You feel the pain of a mother elephant trying to rescue her baby from a well, but when you hear that 5,000 elephants are slaughtered you don't feel 5,000 pangs of pain."
Bloomberg Business - Jul 09, 2015 - Currently Prodigy Finance has programmes at more than 60 of the of FT Top 100 ranked business schools, including INSEAD, Wharton, Chicago Booth, Columbia Business School, London Business School, NUS, SaÃ¯d Business School (Oxford University) and Stanford to name a few. Also in Yahoo Finance.
Bloomberg View - Jul 02, 2015 - Economists are starting to ask why. One of the most important of these economists is Kelly Shue of the Chicago Booth School of Business. Shue has written several papers showing that the way we compensate executives might be broken.
Bloomberg (video) - Jun 18, 2015 - University of Chicago Booth School professor Luigi Zingales talks about how finance benefits society and what it adds to the U.S. economy. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
Bloomberg (video) - Jun 18, 2015 - University of Chicago Booth School professor Luigi Zingales discusses the state of labor in the U.S. economy and how it impacts the Federal Reserve’s decision on when to raise rates. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
Forbes - Jun 30, 2015 - The academic community has long proffered their findings on stock picking your way to success. Nobel Prize Winning Professor Eugene Fama from The University of Chicago presented his argument in the 1960’s that financial markets are, in the long run, efficient and that since all information is available for investors to act upon, securities are properly priced. Article also in Yahoo Finance and Yahoo News.
MarketWatch - Jun 25, 2015 - In a closed-door speech at the Fed’s annual “stress test modeling symposium” in Boston on Wednesday, James McAndrews, who heads up research at the Federal Reserve Bank of New York, said he thinks full transparency in stress testing can be “an enormous weakness.” McAndrews said revealing the models would give the banks “opportunities to circumvent the test.” University of Chicago Booth School of Business Professor Haresh Sapra and the University of Pennsylvania’s Itay Goldstein agree.
PBS Newshour (video) - Jun 26, 2015 - In economics, a theory has long prevailed that markets are based on people making rational choices. But behavioral economist Richard Thaler is seeking to prove that there is far more randomness to our financial decisions. Economics correspondent Paul Solman talks to Thaler to find out why we buy and to discuss Thaler’s new book, “Misbehaving.”
CBS News MoneyWatch - Jul 10, 2015 - "For every dollar that is reported, 80 cents is not," said Adair Morse, a professor with the University of Chicago's Booth School of Business. Morse was one of the authors of a breakthrough study released earlier this year. The report -- "Tax Evasion Across Industries: Soft Credit Evidence from Greece" -- documented that tax evasion was most prevalent in the ranks of Greece's highly educated professionals like doctors, lawyers, engineers, accountants and even journalists.
CBS Money Watch - Jun 30, 2015 - "I consider capital controls already in place to be akin to exit," wrote Anil Kashyap, a professor of economics and business at the University of Chicago's Booth School of Business, in an email to CBS MoneyWatch. "If I were advising the Greeks, I would not reintroduce the drachma, instead would use IOUs and keep saying that someday I'll lift the capital controls and fully return to the euro."
Yahoo News - Jul 15, 2015 - In several studies of the committee system, Randall Kroszner at the University of Chicago and Thomas Stratmann at George Mason University concluded that as lawmakers gain committee seniority they are more likely to receive higher contributions from corporate-financed political action committees and to receive more frequent contributions from the same donors. Also in Politico Magazine, The Center for Public Integrity.
Yahoo Finance - Jul 09, 2015 - Below is a brief look at the who's who of Forbes' 2015 "money masters." From all walks of life and specializing in various areas, these savvy financial experts are among the best of the best and worthy of a closer look. Professor Amir Sufi and alumnus Cliff Asness are listed. Also in MSN Money and Benzinga.
Yahoo Finance - Jul 05, 2015 - Many observers have offered ideas for why monetary policy has been so ineffective since the Great Recession. But last weekend, University of Chicago economist Amir Sufi decided to take his theory to the belly of the beast, giving a lecture at the Bank of International Settlements, an organization known as the “bank for central banks.”
TIME Magazine - Jul 09, 2015 - In a landmark study a decade ago, University of Chicago sociologist Ronald Burt found that managers who straddled holes between teams and domains consistently produced better ideas than those who did not (and were rewarded accordingly). “This is not creativity born of genius,” he wrote. “It is creativity as an import-export business.” The easiest way to discover an idea, it would seem, is to borrow one.
Fortune - Jul 07, 2015 - Gary Becker and two other University of Chicago economists (Professors Kevin Murphy and Stephen Davis) wrote in The Wall Street Journal in 2010 that President Obama’s policies were creating uncertainty for businesses and slowing what could have been a rapid recovery.
Chicago Magazine - Jul 01, 2015 - “Jamal” can be read as direct reference to a well-known 2003 study by (Chicago Booth's Marianne) Bertrand and MIT’s Sendhil Mullainathan: “Are Emily and Greg More Employable than Lakisha and Jamal? A Field Experiment on Labor Market Discrimination.” Bertrand and Mullainathan sent out almost 5,000 resumes to more than 1,300 help-wanted ads in Boston and Chicago. And the results were striking, if not surprising.
The Atlantic - Jun 23, 2015 - Loukas Karabarbounis and Brent Neiman, economists at the University of Chicago, have estimated that almost half of the decline (in human labor) is the result of businesses’ replacing workers with computers and software.
Sports Illustrated (Podcast) - Jun 23, 2015 - Welcome to the first episode of "This is Your Brain on Sports," a new podcast from Sports Illustrated that looks at the hidden side of games...hosted by SI executive editor Jon Wertheim. For the inaugural episode, Wertheim sits down with behavioral economist Richard Thaler, the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business and author of Misbehaving: The Making of Behavioural Economics...to discuss the anomalies of sports, including ticket sales, rules and regulations such as the red card in soccer, and Thaler's own experience giving draft advice to the owner of the Washington Redskins, Dan Snyder.
Morningstar - Jun 23, 2015 - Steven Kaplan, a University of Chicago Booth School of Business professor of entrepreneurship and finance, compared S&P 500 CEO pay to top baseball, basketball and football players. However Chicago Booth Professor Marianne Bertrand and Harvard's Sendhil Mullainathan disagree with Kaplan that CEO pay usually correlates well with personal performance. Their research found CEOs of the largest oil companies in the United States, for example, received big rewards between 1977 and 1994 for improvements in company earnings and stock returns, even when these increases were caused by factors beyond the CEOs' control.
Crain's Chicago Business - Jul 02, 2015 - Reliefwatch is Yu's full-time job. After getting a green light from his father, a pulmonologist born in Hong Kong, and his mom, a pharmacist from Peoria, Yu dropped out of school in 2012. He has won awards from England's Prince Charles, South by Southwest, the Social New Venture Challenge sponsored by the Booth School of Business and, most recently, the 1776 Challenge Cup.
Crain's Chicago Business - Jun 30, 2015 - The "fab lab" for fabricating prototypes is part of the second phase of the Chicago Innovation Exchange, an ambitious project launched last fall by the University of Chicago to spur innovation from students, professors on its campus and others living in the neighborhood.
Crain's Chicago Business - Jun 27, 2015 - Gyms win as well. Bargain-hunters like Kendrick help fill classes that otherwise would be half-empty during the workday. “The idea is they will help gym owners who invested in capacity and are finding their capacity underutilized,” says Jean-Pierre Dube, a professor at the University of Chicago Booth School of Business. “You're solving the yield management problem in a new way that won't trigger a price war.”
MEDIA OUTSIDE THE U.S.
Financial Times - Jul 10, 2015 - Professor Richard Thaler writes on the economist as the true father of behavioural finance and ‘third level’ thinking.
The Financial Times - Jul 07, 2015 - According to Robert Aliber of University of Chicago, today’s currency wars are more severe than those of the 1930s. If the IMF were still the sheriff for determining whether a country could reduce the price of its currency, he adds, it would have concluded that neither Japan nor the eurozone countries were in fundamental disequilibrium, and that the proposed declines in the prices of the yen and the euro were unacceptable.
Financial Times - Jul 05, 2015 - Asking for a PowerPoint presentation makes people think in a different way to essays, which can follow a template formula, says Kurt Ahlm, Booth’s associate dean for recruitment and admissions, who reviews the Booth process every year to ensure it remains fresh.
Financial Times - Jul 03, 2015 - As part of our focus on MBA applications next week, we asked our bloggers to share their top tips. Here’s what some of them said: Gareth Rees, University of Booth School of Management: “My first piece of advice is to be totally honest. Express who you really are [and] don’t be afraid to be different."
Financial Times - Jun 29, 2015 - At Chicago Booth, Julie Morton, associate dean of career services, reports that student interest in the financial sector remains high, with more than 40 percent of Booth graduates taking their first job there.
Financial Times U.S. edition - Jun 27, 2015 - From the business of space travel to a shepherd's reflections on Cumbrian life, Financial Times writers and guests select their books of the year so far...Richard Thaler's Misbehaving: The Making of Behavioral Economics is listed.
Financial Times - Jun 25, 2015 - Cutting the top rate of tax does not stimulate economic activity. Not long ago, Owen Zidar from the Chicago Booth School of Business showed that, in US data, cuts for lower- and middle-class taxpayers account for the bulk of job growth stimulated by lower taxes. That result dovetails with research from the International Monetary Fund, which finds that economies that redistribute towards the poor and the middle class can boost their growth rates significantly. In contrast, those that make the rich richer hurt economic growth.
The Financial Times - Jun 21, 2015 - Nicholas Epley, of the University of Chicago Booth School of Business, was one of the authors of the study cited above on how people tend to overclaim credit. Watch his three FT video lectures: on unbiased decision-making, mind-reading at work and motivating staff. Also in the Irish Times.
CNBC Asia - Jul 08, 2015 - Randy Kroszner, former Federal Reserve Governor and Chicago Booth professor, says a rate hike in the U.S. is unlikely due to the absence of a lift in the labor markets and inflation.
CNBC Asia (video) - Jul 01, 2015 - Austan Goolsbee, Robert P. Gwinn Professor of Economics, is interviewed about Greece's economy and various other issues.
CNBC Asia (video) - Jul 01, 2015 - Austan Goolsbee, Robert P. Gwinn Professor of Economics, is interviewed about Greece's economy's impact on the U.S.
CNN International - Jul 13, 2015 - One surviving old structure is Hong Kong island's abandoned Victoria Road Detention Centre -- often called "The White House." Built during the colonial era, the long-forgotten and somewhat mysterious site has been in the spotlight because of plans to redevelop it as the Hong Kong campus of the Chicago Booth business school.
MSN.be - Jul 07, 2015 - Economists are starting to ask why. One of the most important of these economists is Kelly Shue of the Chicago Booth School of Business. Shue has written several papers showing that the way we compensate executives might be broken. In 2011, Shue found that having the right friends matters a lot for executive pay.
MSN Canada - Jul 07, 2015 - “When one buys an experience, they seem to be buying themselves a story as well,” said Dr. Amit Kumar, a social psychologist and postdoctoral researcher at the University of Chicago’s Booth School of Business who studies the relationship between money and happiness. “So one way vacations continue to provide hedonic benefits even after they've long since passed is because they live on in the stories we tell.”
Bloomberg Europe - Jun 18, 2015 - Former Governor of the Federal Reserve System Randy Kroszner discusses possible timing and frequency of a Federal Reserve rate hike. He speaks with Guy Johnson on Bloomberg Television’s “On The Move.” (Source: Bloomberg)
The Times of India - Jun 30, 2015 - "The tendency to conform is pervasive and rooted in human psychology," said one of the researchers, Ayelet Fishbach, professor at University of Chicago Booth School of Business in the US. Also in Yahoo India, Zee News, Business Standard, WebIndia123, Chennai Online, Sify.com, Mangalorean.com, New Kerala.com, Net India.
The Times of India - Jun 29, 2015 - He studied in Bengaluru and Mangaluru before he made his way to the US where he is currently dean of University of Chicago Booth School of Business. Back in Bengaluru for the IISc Global Alumni Conference, Sunil Kumar recalled his days on the verdant campus and said IISc taught him to a taught him to a lesson he continues to teach-aspire and explore.
Business Insider - Jul 14, 2015 - Christopher K. Hsee, a professor at the University of Chicago Booth School of Business, has looked at this very question. His basic hypothesis is that people work until they are beat, instead of working until they have “enough.”
LiveMint - Jul 09, 2015 - Raghuram Rajan, who was a professor at the University of Chicago Booth School before moving to India in 2012, appears to have made a special effort to make time for interactions with students. Tough for a man who is managing monetary policy and regulating the financial sector in an economy as large and complex as India’s.
Wall Street Journal - Jun 26, 2015 - Duncan Rolph, managing partner, Miracle Mile Advisors Education: M.B.A., University of Chicago Background: While he was in business school, Mr. Rolph co-founded a software company. He sold the company about a year after he graduated to pursue a career in wealth management. “I realized it was easier to manage other people’s success then to create my own,” he says. He worked at Bel Air Investment Advisors for a little over four years and then joined Convergent Wealth Advisors in 2008. The now 42-year-old became a managing director at Miracle Mile Advisors in Los Angeles in 2011.
Bloomberg Business - Jul 14, 2015 - ByteGrid Holdings LLC, a leading provider of data center and IT infrastructure services, today announced the appointment of Jay Sinder as its Chief Financial Officer where he will oversee ByteGrid's finance, administration, investor, and corporate development functions. He has an MBA from the University of Chicago (Booth School of Business) and BS in Mathematics from The University of Michigan. Also in CNN Money, Yahoo Finance (US, Singapore), EIN News, Virtual Strategy Magazine.
Bloomberg Business - Jul 05, 2015 - Alumnus Debbie Sit had many business and philanthropic accomplishments over her career, including being named in the "40 Under 40" list of the top 40 business achievers in 1995 by the Twin Cities Business Journal, for her work at Sit Investment Associates. Sit died of cancer on June 29. She was 54.
Bloomberg Business - Jun 25, 2015 - Perfecto Mobile, the world's leader in mobile app quality and experience, today announced the appointment of alumnus George Kadifa to its Board of Directors. Kadifa is currently the Managing Director at Sumeru Equity Partners, Director at Velocity Technology Solutions and serves as a trustee for the University of Chicago Booth School of Business.
Bloomberg - Jun 24, 2015 - Hirtle Callaghan is honored to award its 2015 Investment Leadership Award to alumnus David G. Booth, founder of investment firm Dimensional Fund Advisors, in recognition of his talent, dedication and positive impact on the profession. The award was given to David during a ceremony at the 2015 Hirtle Callaghan CIO Conference on May 28, 2015, at the Four Seasons in Philadelphia, Pennsylvania.
Los Angeles Business Journal - Jun 29, 2015 - A graduate of Wellesley College and the University of Chicago, Raphael is scheduled to be honored, along with her husband, by the Anti-Defamation League later this year. Raphael recently spoke with the Business Journal about her work, her family and how to handle stress.
MarketWatch - Jun 29, 2015 - EY announced today that alumnus Randy Gier, CEO of RAVE Restaurant Group, the parent company of Pie Five Pizza and Pizza Inn, received the EY Entrepreneur Of The Year® 2015 Award for the Southwest region.
Chicago Tribune - Jul 10, 2015 - When interviewed by Chicago Tribune, alumna Nicole Doucet stated, "It still blows my mind to think that most of the water on the shelves was shipped thousands of miles to get there. Such a waste! I also got accepted to the MBA program at Chicago Booth before launching, so it all worked out nicely."
Yahoo Finance - Jul 07, 2015 - Mattersight announces the hiring of (alumnus) Frank Suljic as Senior Vice President of Strategic Sales. Mr. Suljic returns to Mattersight after a previous tenure with the company, during which time he served as Vice President of Sales. Also in Yahoo Singapore, Bloomberg, Morningstar News, FinanzNachrichten.de and Firmen Presse (Germany) and Says-Con India.
Yahoo Finance - Jun 18, 2015 - Altman Vilandrie & Company, a strategy consulting firm focused on the communications, media and related technology sectors, has hired alumnus Cheenu Seshadri as a director of the growing company.
Crain's Chicago Business - Jul 06, 2015 - Brad Keywell pulled off a coup, luring (alumnus) Sonny Garg, chief information officer at Exelon, to join Uptake. Keywell founded Uptake, a data-analytics startup, about nine months ago. It helps large companies such as Caterpillar harness the massive amounts of data they gather to better understand their operations and better predict the need for maintenance and other functions.
Crain's Chicago Business - Jul 01, 2015 - Phil Nevels is leaving World Business Chicago and getting back to his startup roots. The co-founder of Power2Switch, who joined the city's business-recruitment agency two years ago, is launching an angel investment network. The 34-year-old is opening the Chicago operation of NextGen Angels, a Washington, D.C.-based angel-investment network. Nevels and Seyi Fabode launched Power2Switch, which provided price comparisons for electricity providers, while at University of Chicago's Booth School of Business. They sold the company in 2013, and Nevels joined World Business Chicago to lead its tech-recruitment effort, ChicagoNext.