In the News 2023
See below for 2023 media coverage.
7 tips to help keep New Year’s resolutions, from a University of Chicago expert on motivation
December 29, 2023 | Chicago Tribune
Find immediate rewards. Avoid “avoidance” resolutions. Give advice, and break down the resolution into a series of short-term goals. These are some tips from Booth's Ayelet Fishbach for New Year’s resolutions.
Here’s a better way to make New Year’s resolutions
December 28, 2023 | The Washington Post
“If your New Year’s resolution is going to involve a lot of sweating, make the plan while you are exercising,” says Chicago Booth's Ayelet Fishbach.
Chicago Booth launches Master in Finance Program
December 18, 2023 | Clear Admit
“We are excited to bring our transformative approach—and the latest innovations in finance—to talented, analytical college graduates, jump-starting their careers and putting them at the frontier of this rapidly advancing field,” says Booth dean Madhav Rajan.
Fed rate cut hopes by March are ‘optimistic,’ Rajan says
December 13, 2023 | Bloomberg
The US Federal Reserve will likely want to see inflation come down further before easing policy and any expectations of interest rate cuts by March are “overly optimistic,” indicates Chicago Booth's Raghuram Rajan.
Chicago Booth announces new Master in Finance degree launching in 2024
December 13, 2023 | Business Because
Chicago Booth’s new Master in Finance Program is for recent college graduates from quantitative fields of study who are looking to start a career in finance, with a curriculum that can be completed in either 10 or 15 months.
Chicago Booth launches a Master in Finance, its second new degree in 88 years
December 12, 2023 | Poets & Quants
“Chicago Booth’s finance faculty are the best in the world,” says Dean Madhav Rajan. “They developed modern finance theory and have shaped the course of financial knowledge and markets for more than 100 years.”
The profound impact of deliberate acts of kindness
December 12, 2023 | Psychology Today
People have a tendency to underestimate the impact of our kind gestures, according to Chicago Booth’s Nicholas Epley. Predicting reactions to gratitude letters often anticipated the receivers feeling awkward, contrary to the actual outcome.
Meet Chicago Booth’s MBA Class Of 2025
December 8, 2023 | Poets & Quants
Hear from first-year Boothies about their experience at the school, Booth’s flexible curriculum, the pay-it-forward culture, and more.
Real Humans of the Chicago Booth MBA Class of 2025
December 7, 2023 | Clear Admit
See what five Boothies have to say about their time at Booth, what they are most excited about, their career interests, and more.
Economists see Fed keeping rates at 22-year high until at least July
December 5, 2023 | Financial Times
A survey of 40 economists, carried out by Chicago Booth's Kent A. Clark Center for Global Markets in partnership with the Financial Times, shows that most economists think US central bank will remain more hawkish than market expects.
Fed rate cut 'extremely unlikely' to come in early 2024
December 1, 2023 | Yahoo! Finance Live
“It’s going to take a while to get anywhere close to 2 percent, and I don't think they’re cutting any time in advance of getting very close to that 2 percent goal,” indicates Booth’s Randall Kroszner, highlighting misconceptions on rate cuts as the Fed continues fighting toward its inflation target.
Sam Bankman-Fried and Elizabeth Holmes may just be the tip of the corporate fraud iceberg that costs the economy $830 billion annually, study says
November 30, 2023 | Fortune
About one in 10 large companies engages in fraud every year, costing shareholders hundreds of billions of dollars, according to findings by Chicago Booth's Luigi Zingales and coauthors.
Chicago small businesses face uncertainty heading into holidays as shoppers show signs of caution
November 29, 2023 | Chicago Tribune
"Our money just doesn’t go as far as it used to right now, or doesn’t feel like it does,” explains Chicago Booth's Jean-Pierre Dubé. “For the small business, that’s gonna mean they’re really going to have to find a way to stand out from the crowd.”
VMware’s $92bn sale showers cash on Michael Dell and Silver Lake
November 28, 2023 | Financial Times
“It is an example where Silver Lake and Dell made a contrarian bet,” explains Chicago Booth's Steven Kaplan. “Nobody thought Dell was worth a whole lot . . . they did some clever financial engineering and created a lot of value.”
Waking up to world debt
November 27, 2023 | BBC Radio 4
Have governments already accumulated so much debt that they won't have the resources left to handle the next big disaster? And if so, which nations and regions are mostly likely to bear the brunt? Booth's Raghuram Rajan weighs in on these questions and more.
(Interview begins at 18:10.)
Why is it so hard (and expensive) to build anything in America?
November 22, 2023 | Freakonomics
“Productivity has been falling in the construction sector for about 50 years,” explains Booth’s Chad Syverson. “And to be negative for decades on end is strange...it means we’re getting worse and worse at doing something that’s such an important part of the economy.”
What Eli Lilly’s Zepbound reveals about the intricate process of naming drugs today
November 11, 2023 | STAT
“[Direct-to-consumer] advertising definitely plays a role. You don’t want the consumer to be confused,” says Chicago Booth’s Pradeep Chintagunta. Prompting patients to ask their doctors about a specific medication is precisely the goal of consumer advertising.
Landing your dream job by getting an MBA isn't as easy anymore
November 19, 2023 | Stephanie O'Connor
Tech companies in recent years had been more comfortable making offers to students shortly after a summer internship ended, despite the fact that speedy offers aren't always the norm for this industry, notes Stephanie O'Connor, Booth’s associate dean for career services.
This woman roams the city, handing out compliments to strangers
November 12, 2023 | The Philadelphia Inquirer
We often won’t compliment another person because we’re afraid of how they’ll respond, explains Booth's Nicholas Epley. “We self-censor too much, but my advice is to try. You can sprinkle a lot of kindness in the world.”
Why the concept of 'loss aversion' could help explain Biden's weak economic numbers
November 12, 2023 | Yahoo! Finance
Even as inflation declines, consumer confidence is still down. Loss aversion might help explain why, suggests research from Booth's Michael Weber and his coauthors.
MBA & sustainability spotlight: Chicago Booth
November 10, 2023 | Clear Admit
Donna Swinford, associate dean for student recruitment at Chicago Booth, walks us through the sustainability-related features of the school.
Why American manufacturing is increasingly inefficient
November 9, 2023 | The Economist
Chad Syverson of Chicago Booth indicates that the ratio of capital to labor has actually grown slightly faster in manufacturing than in the private sector as a whole.
Right now is a bad time to spend money
November 7, 2023 | The Wall Street Journal
We create mental budgets based on our typical expenses and often fail to account for the inevitable unexpected spending that comes up, recent research from Booth’s Abigail Sussman and her coauthors found.
Jobs report signals 'hard-ish' landing ahead: Kroszner
November 3, 2023 | Bloomberg Surveillance
Randall Kroszner of Chicago Booth says the October US employment report makes it much more likely the Fed will be on hold for a while.
Carbon footprint and fine dining in London: Nudged to fight climate change
October 31, 2023 | Forbes
To counterbalance the environmental impact of dining, some London restaurants are trying to influence customers to pay a climate footprint fee by using Nudge Theory, popularized by Chicago Booth’s Richard Thaler and Harvard’s Cass Sunstein.
When more financial regulation is not better
October 31, 2023 | Project Syndicate
“Sensible regulation depends on knowing when a tool loses its effectiveness and becomes counterproductive. More is not always better,” writes Booth’s Raghuram Rajan
in a recent op-ed.
Why people may take risks on bright, sunny days
October 28, 2023 | The Washington Post
Research from Booth’s Devin Pope found that optimism bias in people purchasing cars in various temperature zones. More convertibles were bought on warm, cloudless days, including in unexpected locations.
Wall Street embraces AI despite risks of catastrophe
October 25, 2023 | VICE
Ralph Koijen of Chicago Booth says it was “not obvious” that A.I. models would lead to more of a herd mentality than already exists on Wall Street.
More than 130 major companies press world leaders to phase out fossil fuels by 2035
October 24, 2023 | NPR: Marketplace Morning Report
Major corporations could make a big difference if the biggest polluters among them—in industries such as utilities, transportation, and energy extraction—clean up their acts, explains Booth’s Christian Leuz.
Don't overlook the power of the family business
October 16, 2023 | Crain's Chicago Business
“It is because of our family ownership structure that we are able to focus on maximizing our own personal values by creating value for our customers,” writes Jamie Shah, entrepreneur-in-residence at Booth’s Polsky Center, in a recent op-ed.
When the strike came to Hollywood, Cameo was ready
October 16, 2023 | Crain's Chicago Business
“If you raised money, when the music stopped, it became a race to get to cash-flow positive,” says Booth’s Steven Kaplan “Some companies will make it and some won’t. The goal is profitable growth.”
Follow the anomalies
October 16, 2023 | Hidden Brain Podcast
Chicago Booth's behavioral economist Richard Thaler explains why our decision making is often far more nuanced than economic models would suggest.
High-interest rates have led the private sector to buy debt: Former KC Fed President Thomas Hoenig
October 16, 2023 | CNBC: The Exchange
Raghuram Rajan of Chicago Booth discusses the Fed decision to Fed quantitative easing, an increase in new debt issuances, and how a shift in who is buying up debt is growing treasury rates.
Student loan repayments have resumed. Here’s 4 charts that break down American educational debt
October 13, 2023 | CNN
The concentration of student loan debt remains uneven among demographic lines. Black borrowers have seen their debt grow the fastest in recent years—they’re are more likely to take out loans and their outstanding debt is larger on average, indicates Booth’s Constantine Yannelis.
What do we really know about private equity?
October 9, 2023 | Crain's Chicago Business
“Private-equity investors have been successful in delivering returns to their investors at the fund level—better than public markets—by adding value to and improving their portfolio companies,” writes Chicago Booth’s Steve Kaplan in a recent op-ed.
No small change: With subminimum wage set to be phased out, tipped workers and restaurants wonder what’s next
October 8, 2023 | Chicago Tribune
Diners won’t be discouraged from going to restaurants in the first place, but they’ll order fewer dishes and less expensive ones when they do, Chicago Booth’s Jean-Pierre Dubé speculates on the new Chicago law phasing out subminimum wage for tipped workers.
Will weight loss drugs like Ozempic take a bite out of junk food sales?
October 7, 2023 | Voice of America
“The [snack industry] growth comes from younger users, and younger users may not be the primary target for the drug,” says Booth’s James Schrager. “Younger people—who don't become obese usually, or at least in many cases — and who aren't going to be taking the drug.”
Julie Su on US hiring surge
October 6, 2023 | Bloomberg Surveillance Podcast
Chicago Booth’s Randy Kroszner says it’s possible that we could have a Goldilocks scenario with a strong labor market and not-too-high wage growth.
The favorite MBA professors of the class of 2023
October 4, 2023 | Poets & Quants
Günter Hitsch, the Kilts Family Professor of Marketing, was named a favorite professor among the Chicago Booth class of 2023. “Beyond his passion and engaging teaching style, Professor Hitsch is committed to the development and success of his students even after they’ve completed his course, and he is an active participant in the community,” shares recent alumna Saron Strait, ’23.
Shape the future of healthcare with an MBA
October 3, 2023 | Find MBA
Chicago Booth’s new joint MBA/MS Biomedical Sciences program gives students the opportunity to pursue both a master in biomedical sciences from the University of Chicago and an MBA from Booth. The curriculum pairs leadership and management skills with the research, applied and clinical skills needed to manage healthcare.
Giving workers a raise is not going to make inflation worse
October 2, 2023 | The New York Times
The current uptick in wage growth “can be given an optimistic interpretation, as a sign of real wages going back to trend, and not necessarily as a concern of an ongoing spiral,” writes Booth’s Guido Lorenzoni and coauthor.
‘Dumb Money’ exposes the baffling allure of bad investment advice
October 1, 2023 | The New York Times
“Should we throw up our hands and conclude that the whole stock market is crazy? No,” writes Booth’s Richard Thaler and coauthor. “These crazy incidents still remain confined to only a few stocks. Stock prices usually revert to fundamental value, although it may take years.”
Donald Trump's business empire at risk following fraud ruling
September 30, 2023 | NPR: All Things Considered
Chicago Booth’s Luigi Zingales weighs in on what a judge’s fraud ruling will mean for Donald Trump’s business empire.
The knotty economics of student loan debt
September 29, 2023 | Knowable Magazine
Constantine Yannelis discusses the complex drivers of rising student debt, what can be learned from other countries’ approaches to supporting higher education, and what U.S. borrowers need to know as the pandemic-driven moratorium on student debt repayment ends.
This time really is different for the economy. Just look at the job market’s confounding strength.
September 29, 2023 | Marketwatch
Research by Booth’s Chad Syverson suggests that productivity is undermeasured when a new technology is just taking hold, as A.I. is now, because its output is intangible.
Fed and ECB urged by economists to embrace interest-rate pause
September 28, 2023 | Bloomberg
“When we conduct monetary policy to fight inflation,” writes Booth’s Veronica Guerrieri and coauthors, “we should be cautious and keep in mind that accepting a degree of short-term inflation may be a necessary cost to allow for relative price movements that help obtain a better allocation of resources.”
On the rise: MiM programs in the USA
September 27, 2023 | MiM Guide
“We believe completing the Master in Management Program at Booth will enable young professionals to marry their passion…with management skills that position them for high-impact careers,” says Booth’s Starr Marcello.
Perspective: Latter-day Saints aren’t going anywhere. Look at the numbers
September 27, 2023 | Deseret News
While there are 14 times more Americans identifying as Catholics than Latter-day Saints, members of the Church of Jesus Christ of Latter-day Saints had more comparative weekly attendees at church, according to filings by Booth's Devin Pope.
People in their 20s aren’t supposed to be this unhappy
September 27, 2023 | The New York Times
“It is hardly obvious that serendipitous encounters in the workplace foster innovation better than planned encounters selected from a much larger universe,” writes Chicago Booth's Steven Davis and coauthors of working in the office.
Will the economy finally un-weird itself?
September 25, 2023 | VOX
“Sure, it’s going to have an effect,” says Booth's Constantine Yannelis of student loan repayments, “but I think the magnitudes are not big enough to drive us into a recession unless we’re already on the verge of a recession.”
This top business school is creating two new programs to address growing interest in healthcare management
September 21, 2023 | Fortune
“One of the things that’s really special about healthcare is there’s simultaneously a really important social mission to help improve the quality of life in the world,” says Booth's Dan Adelman. “There’s also a lot of money that can be used to help do that, and so it’s an attractive area for business students.”
The Fed is unlikely to hike rates ‘much more’: Former Chicago Fed governor
September 21, 2023 | Squawk Box Asia
Randall Kroszner of Chicago Booth says the Fed will do one more rate hike, at most.
Economists expect Fed to defy investors with more interest rate rises
September 17, 2023 | Financial Times
A survey, conducted by the Kent A. Clark Center for Global Markets at Chicago Booth in partnership with the Financial Times, suggests that fully rooting out price pressures and getting inflation back down to two percent will require more prohibitive borrowing costs than market participants currently anticipate.
Fed’s policy paradox: Too-slow growth threatens inflation fight
September 17, 2023 | Bloomberg
Evidence shows that interest-rate surges affect financing conditions and the appetite for risk, constraining the supply side of the economy by inhibiting innovation, finds Booth's Yueran Ma and her coauthor.
Will restart of student loan payments be the last straw for consumers?
September 15, 2023 | The New York Times
The upshot is that “it will matter economically,” says Booth's Constantine Yannelis of the student loan resumption. “It is most likely not going to be huge, though, and it’s not likely to be the type of thing that would tip us into recession.”
Best metal credit cards
September 14, 2023 | WalletHub
Booth professor Thomas Talhelm weighs in on metal credit cards: “Psychology research has found that people tend to interpret heavier things as more important. If the metal makes the credit card heavier, people will probably get a slight sense that the card is more important.”
Will higher interest rates leave economic scars?
September 14, 2023 | Financial Times
Research by Booth's Yueran Ma and coauthor finds that monetary policy can influence innovation activities by changing aggregate demand and correspondingly the profitability of innovation, and by changing financial market conditions.
An economic case against environmental doomsayers
September 13, 2023 | The New York Times
Young people and first-time buyers are more prone to making expensive mortgage choices, according to research by Chicago Booth's Anil Kashyap and co-researchers.
Chicago Booth targets healthcare sector with new business & biomedical sciences joint degree
September 12, 2023 | BusinessBecause
“The program is aimed at anyone interested in building, managing, or investing in healthcare businesses where understanding clinical science is important, and who have some work experience under their belt,” says Dan Adelman, director of Booth’s Healthcare Analytics Laboratory.
Stack Capital looks to buy more stakes in late-stage unicorns
September 7, 2023 | Bloomberg
There is sizable interest from private equity-owned businesses to tap individual investors, but “figuring out how to access retail money is a challenge,” says Booth’s Steven Kaplan.
The strong economic data may mean another year-end rate hike, says former Fed Governor Kroszner
September 7, 2023 | CNBC: Squawk on the Street
Chicago Booth’s Randall Kroszner discusses whether the Fed will need to raise rates further.
How to Make American Health Care Cheaper and Better
September 6, 2023 | The New York Times
Research from Chicago Booth’s Stefan Nagel and coauthors suggests that judging banks’ risks by the profits they report could be a simple and effective tool for regulators.
A eulogy for the Industrial Technology Research Institute
September 5, 2023 | CommonWealth Magazine
Booth’s Chang Tai-Hsieh writes about the future of Taiwan’s Industrial Technology Research Institute, a cornerstone of Taiwan’s technological evolution.
You're more productive in the office, say elite CEOs. Data seems to back them up.
September 3, 2023 | Business Insider
“Companies have realized what they're losing from not having people showing up at the office,” reports Booth’s Michael Gibbs.
Meet the MBA Class of 2025: Folasade Runcie, University of Chicago (Booth)
September 3, 2023 | Poets & Quants
Incoming MBA candidate Folasade Runcie shares why she chose Chicago Booth and her advice for future applicants.
Surveillance: US adds 187,000 jobs
September 1, 2023 | Bloomberg Surveillance Podcast
Chicago Booth’s Randall Kroszner says we're seeing the kind of goldilocks scenario the Fed wants following the August jobs report.
Mediafly raises $80 million after layoffs
August 29, 2023 | Crain’s Chicago Business
“Many companies stagger for a long time after valuations decline. They’re in a wonderful position. Now the question is: What do you plan to do with the money?” says Booth’s James Schrager of the recent venture capital Mediafly raised.
Central bank efforts to cool inflation may harm innovation, study shows
August 25, 2023 | Reuters
Research from Booth’s Yueran Ma and coauthor found that a central bank’s focus on curbing inflation in the short-run “could have a persistent influence on the productive capacity of the economy.”
What is the value of a college degree?
August 24, 2023 | The Economist: Money Talks Podcast
Booth’s Constantine Yannelis explains how the US economy will be impacted when up to 45 million Americans are confronted with their student debt payments once more.
Study reveals how much carbon damage would cost corporations if they paid for their emissions
August 24, 2023 | Associated Press
The idea “of shining the light on corporate activities that have costs to society is very powerful, but it is not enough to save the planet,” says Booth’s Christian Leuz.
Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates?
August 23, 2023 | Associated Press
Booth’s Raghuram Rajan weighs in on the state of the US economy: “We’re not totally out of the woods yet, for banks or the economy.”
Why you should divide your life into semesters, even when you’re not in school
August 21, 2023 | VOX
Booth’s Ayelet Fishbach says that while it is difficult to track improvement with daily or weekly goals, a quarterly or biannual milestone will make it easier.
2023 MBA To Watch: Samuel Ramil, University of Chicago (Booth)
August 21, 2023 | Poets & Quants
MBA candidate Samuel Ramil answers questions about his time at Chicago Booth.
Unconventional strategies for uncertain markets—a private-equity perspective
August 21, 2023 | Crain’s Chicago Business
Duane Jackson, an investor-in-residence at Booth's Polsky Center, and coauthor present three ways to leverage uncertainty and downturns to create value in private companies.
How did we get here? Antioch dragged feet on police reforms, delighting officers facing civil rights charges
August 20, 2023 | The Mercury News
“It’s very hard to change police officer behavior very quickly to be where you want it to be,” says Booth’s Canice Prendergast.
Kroszner on inflation, the economy, mortgage rates
August 18, 2023 | Bloomberg Markets: Balance of Power
Booth’s Randall Kroszner shares insights on the decline in inflation and whether fiscal or monetary policy can be attributed to it.
Chicago Booth Executive MBA application insider
August 17, 2023 | BusinessBecause
Associate dean of Chicago Booth’s Executive MBA Program Julie Morton answers questions about how to make an application stand out.
2023 WalletHub Economic Index
August 17, 2023 | WalletHub
Booth’s Constantine Yannelis shares his insights about the impact of the recent banking crisis on the financial decisions of households and businesses.
Are women more worried about inflation than men?
August 16, 2023 | Financial Times Magazine
Research from Booth’s Michael Weber and coauthors suggests that “traditional gender roles…expose women to different signals about prices than men,” leading them to think differently about inflation.
Don’t count out more rate hikes due to strong jobs market, former Fed governor Kroszner suggests
August 16, 2023 | CNBC Fast Money
Booth’s Randall Kroszner weighs in on the Fed’s next move after their July meeting: “I don’t see how they can be comfortable to say, ‘okay we’re not going to be raising anymore’ if the labor market is as strong as it is now.”
What comes after a soft landing?
August 16, 2023 | Marketplace
“Having just a slow-growth period for a while is not great,” says Booth’s Anil Kashyap. “But if that’s what it takes to get the inflation contained, I think that’s a trade [the Fed] would probably make.”
Unilateral action on climate change can have unintended consequences
August 14, 2023 | Financial Times
“With global talks on climate change going nowhere, countries and regions are feeling the pressure to do something on their own, rather than waiting for global agreement,” writes Booth’s Raghuram Rajan.
Why do consumers keep on spending — even when they don’t have the cash?
August 14, 2023 | Marketplace
“People don’t realize how much credit card debts are going to be a burden. And we see that people are struggling to think long-term,” says Ayelet Fishbach of Chicago Booth.
Remote work expands job opportunity for both workers and employers, says Stanford's Steven Davis
August 11, 2023 | CNBC The Exchange
Chicago Booth’s Steven Davis discusses the impact of remote work on the economy.
ESG investing is still largely smoke and mirrors, but not for BlackRock
August 10, 2023 | Fortune
Green tilts are driven almost entirely by BlackRock and a few other large institutional investors, and hardly at all by the rest of the banking industry, according to a recent finding by Booth’s Lubos Pastor and coauthors.
Many workers facing a layoff would accept a 25% pay cut to keep their jobs—but 97% of bosses don’t even ask. Even the researchers are stumped why
August 10, 2023 | Fortune
According to research from Chicago Booth’s Steven Davis and coauthor, “many job losers don't understand the business considerations that led to their layoffs.”
Even Zoom brought workers back to the office. Here's what it means.
August 10, 2023 | ABC News
Booth’s Ayelet Fishbach and Steven Davis discuss the possibility of remote work sticking around.
The $25 trillion sector that includes VC, PE, and hedge funds is battling new rules that would shine a light on what they’re actually up to. The clock is ticking
August 8, 2023 | Fortune
“The private market has burgeoned and drawn investors because of its lack of regulation compared to the public market, which has become increasingly regulated over time,” says Booth’s Steven Kaplan.
Oil and food prices are rising, and so are wages. Inflation isn’t beaten yet
August 8, 2023 | CNN Business
Booth’s Randall Kroszner discusses the implications of rising food and oil prices on the Fed’s battle to bring down inflation.
Married people consistently most likely to characterize themselves as 'very happy': report
August 8, 2023 | The Christian Post
According to a report from Booth’s Sam Peltzman, “marital status is and has been a very important marker for happiness.”
Here’s what economists are saying about the US jobs report
August 4, 2023 | Bloomberg
Booth’s Randall Kroszner cautions that wage growth should remain in focus for the Fed after the recent US jobs report.
Getting an MBA is still worth it—the 10 business schools that pay off the most right away
August 3, 2023 | CNBC
Chicago Booth ranks six among the 10 business schools that pay off the most right away.
How the strikes could impact lavish Hollywood CEO pay
August 3, 2023 | The Hollywood Reporter
“The strike, if it goes on for long, hurts the company,” Booth’s Steve Kaplan says about the Hollywood strike. “When the company value goes down, the shareholders are not happy and the CEO’s shares also go down.”
2023 Best & Brightest Executive MBA: Keoki Williams, University of Chicago (Booth)
August 2, 2023 | Poets & Quants
“I had excellent professors for our challenging quantitative classes at Booth,” shares Keoki Williams, '23, who was named to the 2023 Best & Brightest Executive MBA list.
2023 Best & Brightest Executive MBA: Yeonjung Park, University of Chicago (Booth)
August 2, 2023 | Poets & Quants
“With three campuses across the globe, the school offers not only a great level of locational flexibility, but also a strong, diverse cohort as your lifelong friends,” reflects Yeonjung Park, ’23, who made it to this year's Best & Brightest Executive MBA list.
Will performers get beaned at Lollapalooza? Expert weighs in on fans throwing things
July 31, 2023 | WBBM News Radio
Booth’s Ayelet Fishbach discusses fans throwing objects at performers: “It’s not smart, that’s for sure. But you are connecting to them, in a way. And we see that when physical connection is not possible, people go for the symbolic connection.”
Hybrid and remote work reshape how and where Chicago works
July 31, 2023 | Crain’s Chicago Business
Booth’s Jonathan Dingel says that while Chicago is not as tech-centric as San Jose, California, it does have a large percentage of jobs that can be done remotely.
Chatting with strangers: Why the practice is dying out and why that matters
July 28, 2023 | El Pais
More things would happen to us, and we would have a more interesting life, if we went back to chatting with strangers. That’s according to Booth’s Nicholas Epley.
$11,000 to see Taylor Swift? How concert tickets got so expensive
July 27, 2023 | The Los Angeles Times
Booth’s Eric Budish weighs in on ticket resale prices: “The secondary marketplace is making more than Taylor Swift is, and then the broker is making more than either of them.”
The Fed's hot pause summer gets an ice bath: Interest rates rise again
July 26, 2023 | NPR: All Things Considered
“I think the message they wanted to send is that things are moving in the right direction, but we need to wait and see,” says Booth’s Raghuram Rajan about the Fed’s recent press conference.
Introducing the Chicago Booth Master in Management degree
July 26, 2023 | Clear Admit
Booth’s dean Madhav Rajan discusses the launch of Chicago Booth’s one-year Master in Management program.
Is Elon Musk right to ditch Twitter's bird logo?
July 25, 2023 | BBC
“Why take a recognized brand, with a lot of brand capital around it and then completely throw it away and start from scratch?” says Booth’s Jean-Pierre Dubé about Elon Musk’s Twitter rebranding. “In the short-term, it seems weird.”
Water-scarce cultures value long-term thinking more than their water-rich neighbors do
July 25, 2023 | Medical Xpress
Research from Booth’s Thomas Talhelm and coauthor suggests that cultures from water-scarce environments are more likely to value long-term thinking and to scorn short-term indulgence.
How workers really spend their days
July 23, 2023 | Wall Street Journal
“The presence of other people gets us to be better people,” says Booth’s Ayelet Fishbach of being in the office. Alone at home, “you constantly have a fear of like, What are you missing? What is the opportunity cost? What should I have been doing?” she says.
M7 business school Chicago Booth launches Master in Management Program
July 19, 2023 | Business Because
Chicago Booth announces the launch of a 10-month Master in Management Program beginning in fall 2024.
Big news: another M7 school launches a Master in Management
July 18, 2023 | Poets & Quants
Chicago Booth launches a Master in Management Program, becoming one of the top U.S. players in the MM landscape.
U of C Booth school announces 10-month master’s program
July 18, 2023 | Crain's Chicago Business
“We are excited to debut Chicago Booth’s one-year Master in Management, the school’s first new degree program in 88 years,” says Booth’s dean Madhav Rajan. “We look forward to introducing foundational business skills to a new generation of Booth students.”
How the dysfunctional ticketing market harms artists & fans—and what can be done to fix it
July 18, 2023 | Billboard
“Congress or somebody else should figure out who made how much money on the Taylor Swift tour,” says Booth professor Eric Budish of the need for added transparency in the ticketing market.
A female VC's top 5 tips to navigate and win at raising capital
July 17, 2023 | Crain's Chicago Business
“Keep in mind, rejection is protection. Take the 'no' and ask for another point of contact to continue the conversation,” writes Renata Merino of Booth’s Polsky Center, outlining top tips for navigating and winning at raising capital.
Is big business really getting too big?
July 12, 2023 | The Economist
According to Chicago Booth’s Yueran Ma and coauthors, increases in industry concentration in America over the past century are correlated with greater technological intensity, higher fixed costs and higher output growth.
Admissions Director Q&A: Donna Swinford of Chicago Booth
July 11, 2023 | Clear Admit
Donna Swinford, associate dean for student recruitment and admissions at Chicago Booth, shares her insights into what to expect as a Boothie MBA student and throughout the admissions process.
How to truly apologise when you mess up
July 11, 2023 | Vice
“Research indicates that people consistently respond more positively to honest feedback and honest communication than the person who is being honest might anticipate,” says Booth’s Nicholas Epley.
Working women's record-setting comeback
July 11, 23 | Markets Insider
“The thing that increases female labor-force participation may not be the thing that reduces the gender pay gap,” says Booth’s Marianne Bertrand. “Being in the workforce and succeeding in the workforce aren't always the same thing.”
Fighting ageism against women in the workplace
July 10, 2023 | WBEZ: Reset with Sasha-Ann Simons
Amy Hilliard of Chicago Booth digs into gendered ageism in the workplace and ways to combat it.
Bond market gets limited relief as yields reach 2023 highs
July 7, 2023 | Bloomberg
“The wage growth is still stronger than the Fed would feel comfortable with,” indicates Randall Kroszner of Chicago Booth. “So they are going to say they need to move forward” with more rate increases.
How Threads can overtake Elon Musk's Twitter
July 7, 2023 | Yahoo! Finance
“I think the next few weeks and months are important,” says Booth’s Pradeep Chintagunta. “It also depends upon how quickly Threads can make sure that any of the feedback that they’re getting, they’re actually able to internalize that well and then perhaps improve the features, etc. they offer.”
Should investors stay and fight for green change—or divest?
July 5, 2023 | Financial Times
Socially conscious investors are increasingly pushing funds to divest certain shareholdings. But in most cases, they would do better to retain their stakes and engage with management to bring about reform, Booth’s Luigi Zingales explains in a recent op-ed.
ESG investment returns face a slowdown
July 5, 2023 | Financial Times
The factors driving the outperformance of green stocks are changing; investors should expect green assets to underperform environmentally unfriendly, or “brown” assets, according to findings by Booth’s Lubos Pastor and his colleagues.
Pitch tips: Hook with a story and clearly explain complex topics
July 5, 2023 | Crain's Chicago Business
“While simplifying a concept you've worked long and hard to perfect might seem counterintuitive, doing so, and telling the story of this work, will help you close the deal,” writes Ezunial "Eze" Burts of Booth’s Polsky Center.
The Fed isn’t going to quit until the labor market quits, says former Fed Governor Randy Kroszner
July 5, 2023 | CNBC: The Exchange
Randy Kroszner of Chicago Booth discusses the Federal Reserve’s next move after June’s pause in rate hikes.
University of Chicago study: Marketers are better off talking less
July 5, 2023 | IT Pro Magazine
Research from Booth’s Ed O'Brien and Christopher Hsee and their coauthor found that sellers often want to provide upward counterfactual information, or UCI, but doing so mostly backfires on them by highlighting a current imperfection.
Workplace Wisdom: Should salespeople "speak less"? Pay attention to one key point to improve the transaction probability!
July 4, 2023 | Hong Kong Economic Times
Marketers should increase sensitivity to the seriousness of consumer knowledge and existing defects when deciding whether to share upward counterfactual information, a research by Booth’s Ed O'Brien and Christopher Hsee and their coauthor suggests.
2023 Best & Brightest Executive MBA: Keoki Williams, University of Chicago (Booth)
July 4, 2023 | Poets & Quants
Keoki Williams, ‘23, was named to Poets & Quants’ 2023 Best & Brightest Executive MBA list. “Keoki adds graduating with honors from Chicago Booth to his resume, cementing his ability to apply his medical research to improving patient care in the business world,” shares associate dean of the Executive MBA Program Julie Morton.
As AI booms, are VCs rushing to another tech bubble?
July 3, 2023 | San Francisco Examiner
Stefan Hepp of Chicago Booth said the difference between A.I. companies and the rest of the tech startup world in terms of VC interest is stunning. “A.I. is attracting all the funding at the moment—and increasing amounts of funding,” he explains.
The sheer pain coming from the student debt decision
June 30, 2023 | The New York Times
Research by Booth’s Constantine Yannelis and coauthors find that by and large, borrowers who were allowed to pause payments on their student loans didn’t use their spare cash to pay down other debt or build up savings. Instead, they increased other borrowing.
A Delaware city wants to let businesses vote in its elections. It just cleared a key hurdle, but it’s faced pushback
June 30, 2023 | CNN Business
The Seaford case is probably more of a quirk than a quake in how local elections will be run more broadly, indicates Chicago Booth’s Hal Weitzman of the Delaware city that wants to invite businesses directly into the ballot box.
You’d never play the lottery but are all-in on crypto. What’s the difference?
June 26, 2023 | MarketWatch
Chicago Booth’s Michael Weber and coauthors look at how changes in the price of bitcoin and other cryptocurrencies affect consumer expenditures.
The working-from-home illusion fades
June 28, 2023 | The Economist
Research by Booth's Michael Gibbs and coauthors found a productivity shortfall, relative to prior in-office performance, of as much as 19 percent for remote employees.
The Fed is about to reveal how safe America’s biggest banks are after the crisis earlier this year
June 28, 2023 | CNN Business
The firm-specific results of the Fed’s report could “give us light into which banks could experience more stress [in a recession],” indicates João Granja of Chicago Booth.
Creating a balance of leadership skills: part II
June 26, 2023 | Business Impact
Booth professor Lisa Stefanac details her teaching approach for the Interpersonal Dynamics leadership course, emphasizing the need for leaders to give and receive feedback effectively, as well as to be comfortable with being uncomfortable.
Why workers are still winning the return-to-office fight
June 25, 2023 | BBC
“Over time, workers found a new way of doing things that stuck,” says Ayelet Fishbach of Chicago Booth. “ So, any sort of change was perceived as a cost: if returning to the office is good for my manager, then it must be bad for me.”
Be prepared to navigate a maze to cancel that subscription
June 22, 203 | NPR: Marketplace
“They know very well, probably from experience with millions of other customers, that if we find it difficult to cancel, we’re just going to keep paying,” explains Chicago Booth’s Jean-Pierre Dubé.
PM Modi discusses Indian education sector with top academics
June 21, 2023 | Times of India
Booth dean Madhav Rajan discusses India’s “improving business environment as well as the country’s rapidly growing economy” at a New York meeting with Indian Prime Minister Narendra Modi.
Why Joe Biden’s trustbusters have fallen short of their ambitions
June 21, 2023 | The Economist
“Six years ago, if you didn’t buy into the consumer-welfare standard, you weren’t a serious person,” says Booth’s Luigi Zingales. “Now that’s completely gone.”
Do you believe in magic? In health crises, it might help.
June 18, 2023 | The Washington Post
In her research, Jane Risen of Chicago Booth describes how people can believe what we also don’t believe through a dual-processing model of cognition know as system one and system two.
Britain faces recession and flood of job losses if rates hit 6%
June 17, 2023 | Bloomberg
As companies released staff they were hanging on to, unemployment would suddenly spike, explains Booth’s Raghuram Rajan. “Then you have more unemployment than you want, because these things move in a non-linear fashion.”
The Fed rate pause won’t end mortgage misery
June 14, 2023 | The Wall Street Journal
People might see mortgage rates increase in the months ahead and make a judgment as to their own house-hunting plans, but few should base household-finance decisions on interest rates alone, suggests Booth’s Michael Weber.
Paro raises $25 million, signaling thaw in venture funding
June 14, 2023 | Crain's Chicago Business
“Now I think the world is sort of back to normal, like 2017,” says Chicago Booth’s Steven Kaplan. “There’s more of a balance between funds and companies. Good companies are getting funded at up rounds.”
The message top corporate CFOs are sending directly to Fed presidents: Don’t pause. Just stop
June 13, 2023 | CNBC.com
“It is good inflation is coming down, both core and headline, but core is still quite elevated,” says Chicago Booth’s Randall Kroszner. “There are more rate hikes to come.”
Don’t use QE in next crisis, former central banker Rajan says
June 12, 2023 | Bloomberg
Central banks should throw quantitative easing out of the monetary policy toolkit because there’s no proof that it leads to better economic outcomes, says Chicago Booth’s Raghuram Rajan. “I do not think the benefits outweigh the costs.”
Creating a balance of leadership skills: part I
June 12, 2023 | Business Impact
Chicago Booth’s Lisa Stefanac talks about the evolution of the Interpersonal Dynamics course, which emphasizes the need for leaders to give and receive feedback effectively and to be comfortable with being uncomfortable.
Discrimination isn’t just infuriating. It steals Black people’s time.
June 12, 2023 | VOX
Research from Chicago Booth’s Devin Pope, Sendhil Mullainathan, and others illuminates the ways systemic racism pervades everyday experiences and makes life more difficult for Black Americans.
Angry Taylor Swift fans push lawmakers to take on Ticketmaster
June 11, 2023 | The Washington Post
If artists like Taylor Swift can’t restrict resales to deter scalpers and bots, it will be hard to fix the problems with the event ticket market, suggests Chicago Booth’s Eric Budish.
Economists forecast at least two more U.S. rate rises to quell inflation
June 10, 2023 | The Financial Times
The U.S. Federal Reserve will need to take tougher action than expected to root out inflation, according to leading academic economists surveyed by the Financial Times and the Kent A. Clark Center for Global Markets at Chicago Booth.
Netflix’s crackdown on password sharing seems to be working
June 9, 2023 | Marketplace
Chicago Booth’s Ayelet Fishbach suggests Netflix may have strategically planned to get people hooked on streaming before cracking down on password sharing.
News from the world of education
June 9, 2023 | The Hindu
Chicago Booth’s Raghuram Rajan addressed alumni, students, and partners during the launch of the Rothman Faculty in Residence program at the Robert Rothman, ’77, London Campus.
Illinois’ student loan borrowers face a return to reality
June 9, 2023 | Crain's Chicago Business
Remaining student loan debt will negatively impact retirement for younger borrowers like Otis, says Constantine Yannelis of Chicago Booth.
What I learned about ‘woke’ capital and Milton Friedman at the University of Chicago
June, 9, 2023 | The Wall Street Journal
We now have the politicization of the corporate world because we have corporatization of the political world, Chicago Booth’s Luigi Zingales indicates.
Crypto’s quiet gains: ownership climbs despite crash in prices
June 8, 2023 | The Wall Street Journal
Chicago Booth’s Michael Weber and three coauthors find that since 2018, cryptocurrency ownership has gone from 2 percent of the population to 12 percent as of December 2022.
Cancer-fighting startup takes top prize at University of Chicago’s New Venture Challenge
June 7, 2023 | Clear Admit
Congratulations to Alnair Therapeutics, a company with the mission to fight cancer, for claiming the top spot at Booth’s 2023 Edward L. Kaplan, ’71, New Venture Challenge.
It’s possible the Fed will pause rate hikes this time around, professor says
June 6, 2023 | CNBC: Squawk Box Asia
Raghuram Rajan of Chicago Booth says that “the jury is still out” on how much more the U.S. Federal Reserve needs to do to manage inflation.
2023 Best 40-Under-40 MBA Professors: Dacheng Xiu, Booth School of Business, University of Chicago
June 5, 2023 | Poets & Quants
Booth professor of econometrics and statistics Dacheng Xiu was named to Poets & Quants’ Best 40-Under-40 MBA Professors of 2023.
Oncology company with a new method to treat cancers wins UChicago startup competition
June 5, 2023 | Chicago Inno
“The investment can be transformational and extremely important in getting them on the road to success,” says Booth’s Steven Kaplan of the oncology startup that won first-place at the New Venture Challenge.
Generative AI’s ‘productivity revolution’ will take time to pay off
June 4, 2023 | Financial Times
There is now a “data-driven case for optimism” on productivity, with AI, the formation of new businesses, and people switching jobs all set to yield results.
Just how safe are credit unions?
June 2, 2023 | Marketplace
Banks are trying to maximize their return on equity, and that can lead them to take bigger chances with their lending or investments, indicates Booth’s Luigi Zingales.
Fed won’t cut rates anytime soon, Kroszner says
June 2, 2023 | Bloomberg Surveillance
Randall Kroszner of Chicago Booth discusses what the May US employment report means for Fed monetary policy.
SVB’s collapse issues early warning for S. Korea’s financial stability
June 1, 2023 | Dong-a Ilbo
The South Korean financial industry should ensure regulation and supervision so that banks can stay financially sound based on multifaceted assets, advised Booth’s Douglas Diamond in a keynote speech at the 2023 Dong-A International Finance Forum.
Can discounts always promote sales? Improper promotions may drag down sales revenue - businesses should take note of this
May 31, 2023 | Hong Kong Economic Times
A research team led by Chicago Booth PhD graduate Shirley Zhang, along with professors Abigail Sussman and Christopher K. Hsee, found that discounts, in the form of discounts that limit how much consumers buy, can reduce sales.
In the Market: Amid the calm, the Fed brews the next storm
May 30, 2023 | Reuters
"If they do raise short-term policy rates, clearly, at some point, something more breaks,” says Booth’s Raghuram Rajan of the Fed's attempt to guide the economy to a so-called “soft landing.”
Tough U.S. financial conditions could torpedo Wall Street dealmaking, new research shows
May 28, 2023 | Forbes
A research by Booth’s Raghuram Rajan and coauthors finds that a 1 percentage point rise in the U.S. Financial Conditions index leads to a decrease in value of approximately 10 percent for M&A deals.
Prepare for pain: Britain is hurtling towards a new crisis
May 28, 2023 | The Telegraph
Booth’s Raghuram Rajan says “the combination of low real wage growth in recent years and greater unionisation in the UK makes workers understandably more frustrated with inflation than in the United States and more willing to press their demands.”
Not buying central banks’ favourite excuse
May 26, 2023 | Project Syndicate
“Everyone has become so inured to massive central-bank interventions in markets that no one realizes just how unusual the latest banking crisis and response has been,” writes Booth’s Raghuram Rajan in a recent ope-ed.
‘The mother of all crises.’ A US debt default would ricochet around the world
May 26, 2023 | CNN Business
“The argument in favor of [the dollar] is there’s really no other place to go… It’s not clear exactly where people run to,” says Randall Kroszner of Chicago Booth.
Regional bank crisis may be far from over, experts warn
May 25, 2023 | MarketWatch
According to an analysis published by Chicago Booth’s Luigi Zingales and coauthors, banks with well-functioning mobile applications experienced greater deposit flight when the Federal Reserve began raising interest rates than banks without these digital tools.
Student loans prove you can’t have it both ways
May 22, 2023 | The Washington Post
People who didn’t have to make payments had more disposable income and fewer delinquencies on student loan debt, according to findings by Constantine Yannelis and coauthors.
Even flirting with U.S. default takes economic toll
May 20, 2023 | The New York Times
“In the current situation, where there’s a lot of fragility in the banking system, you’re taking more of a risk,” explains Booth’s Randall Kroszner. “You’re piling up fragility on fragility.”
Chicago Booth announces partnership with Chicago Scholars
May 17, 2023 | Weekly Citizen
The new partnership between Chicago Booth and Chicago Scholars will establish a pipeline for students to attend graduate level programs, and create a long-term impact in the Chicagoland area.
Chicago Booth and nonprofit Chicago Scholars join forces in first-ever partnership
May 16, 2023 | Clear Admit
Chicago Booth is partnering with Chicago Scholars to establish a dedicated pipeline for low-income or first generation college-going students into graduate programs.
Entrepreneurs: Start by building, asking, iterating
May 15, 2023 | Crain's Chicago Business
“I always recommend starting with a low-fidelity prototype, something made from cheap materials like cardboard or modeling clay,” writes Elizabeth Koprucki of Booth’s Polsky Center. “This gives you something to share to receive feedback, which is important throughout the process.”
There are risks but also big potential benefits from digital payments
May 15, 2023 | The Economist
A recent paper by Chicago Booth’s Luigi Zingales and coauthors finds that deposit outflows from digital banks were greater than those from traditional banks in the second quarter of 2022.
We should be on the alert for more problems
May 15, 2023 | The Market
Raghuram Rajan of Chicago Booth explains why he thinks the stress in the financial system is an unintended consequence of easy monetary policy, and why a soft landing seems unlikely.
India’s growth path lies in liberal democracy…': Raghuram Rajan
May 14, 2023 | Mint
India’s growth path lies in leveraging its intrinsic strengths and becoming crucial to global supply chains by building on its culture of tolerance and respect for all, according to Booth’s Raghuram Rajan.
The struggle to explain the ‘gender well-being gap’
May 12, 2023 | The New York Times
“I think people view it as more OK for women to say they are depressed than for men to say so,” comments Chicago Booth’s Marianne Bertrand on women’s greater likelihood of reporting depression.
Under the gun to make its own deal, Groupon's options are limited
May 12, 2023 | Crain's Chicago Business
“Your options are a sale, liquidation or bankruptcy reorganization,” says Ira Weiss of Chicago Booth. “My guess is they'll try to find a buyer.”
Tech startups find one of their last funding sources is drying up
May 11, 2023 | Bloomberg
If startup companies do find themselves with less access to credit, the economy may ultimately benefit, indicates Chicago Booth’s Steven Davis.
Chicago Booth and Chicago Scholars partner
May 9, 2023 | NewCity
Chicago Booth has announced a partnership with local nonprofit Chicago Scholars to establish a pipeline for academically ambitious students from low-income or first-generation college-going backgrounds to attend graduate level programs.
No end in sight: Why the regional banking crisis will continue
May 8, 2023 | Commercial Observer
“When declines in stock prices are that significant, they become self-fulfilling prophecies and cause depositor runs and liquidity issues that could put a bank down,” says Chicago Booth’s Terrence Belton. “That’s clearly at work today.”
Male stock analysts with ‘dominant’ faces get more information—and have better forecasts
May 7, 2023 | The Wall Street Journal
“People form impressions after extremely brief exposure to faces—within a hundred milliseconds,” says Chicago Booth’s Alexander Todorov. Under most circumstances, he adds, such quick impressions aren’t accurate and shouldn’t be trusted.
Apple, Samsung phone rebound? Amazon’s grocery wait
May 5, 2023 | Bloomberg Surveillance Podcast
Chicago Booth’s Randall Kroszner says the Fed is not going to quit until the labor market quits.
Douglas Diamond: Nobel prize conversations
May 3, 2023 | Nobel Prize Conversations Podcast
“Even when we were not the most respectable science, we still needed to keep pushing forward,” says Booth’s Douglas Diamond, “because the topic actually matters to the planet, to the humans on the planet, and to the animals on the planet.”
Food, glorious food!
May 3, 2023 | Chicago Reader
“If costs go up and it’s in the news, then a company can say, ‘Sorry, I have no choice but to raise my prices,’ even when their costs are not what’s driving the increase,” explains Booth’s Jean-Pierre Dubé.
UChicago Booth School gets $100 million donation
May 3, 2023 | NewCity
Chicago Booth’s PhD Program gets a new name along with a $100 million gift from entrepreneur, philanthropist, and alumnus Ross Stevens, PhD ’96.
We need to rethink the entire bank funding model, says former Fed Governor Randy Kroszner
May 2, 2023 | CNBC: The Exchange
Randall Kroszner of Chicago Booth discusses the market expectation for the Fed’s next rate move.
University of Chicago Business School gifted $100 million for its 100th anniversary
May 2, 2023 | Best Colleges
“Booth is already in an exceptionally strong position, but the students of tomorrow demand we don't rest on our laurels today,” says entrepreneur and philanthropist Ross Stevens, PhD ’96, who donated $100 million to the school’s PhD Program.
UChicago receives $100 million for Booth PhD Program
May 2, 2023 | Philanthropy News Digest
The University of Chicago has announced a $100 million gift from alumnus Ross Stevens, PhD ’96, in support of the PhD Program at Chicago Booth.
Gifts Roundup: University of Chicago Booth School of Business
May 1, 2023 | The Chronicle of Philanthropy
The $100 million gift from Ross Stevens, PhD ’96, will increase stipends for Booth’s PhD students, more than double research support for data and computing, and provide additional financial support for the top incoming students.
UChicago Booth business school receives $100 million donation for doctoral program
May 1, 2023 | Chicago Sun-Times
Chicago Booth will receive a $100 million donation to its doctoral program from graduate Ross Stevens, PhD ’96, an entrepreneur, and philanthropist.
Whoa: Chicago Booth gets second-largest gift ever: $100M
May 1, 2023 | Poets & Quants
Ross Stevens’ $100 million donation to the PhD Program is the biggest gifts a business school has ever received, and the second-largest ever at Chicago Booth.
University of Chicago’s Raghuram Rajan expects the Fed meeting to be dovish
May 1, 2023 | CNBC: Closing Bell Overtime
Raghuram Rajan of Chicago Booth discusses the banking sector and its impact on the economy and the next moves from the Fed.
UChicago Booth School is getting a $100 million donation
May 1, 2023 | Crain's Chicago Business
Chicago Booth will rename its PhD program after a $100 million donation from entrepreneur, philanthropist, and alumnus Ross Stevens, PhD ’96.
UChicago Booth School is getting a $100 million donation
May 1, 2023 | Insider Higher Ed
Chicago Booth’s PhD program has received a $100 million gift from Ross Stevens, PhD ’96. In recognition, the school’s PhD program will be renamed the Stevens Doctoral Program.
‘Money-printing spree has turned banks into drug addicts’
April 30, 2023 | The Telegraph
More than a decade of low rates and money printing have made commercial banks reliant on the “drug of stimulus” that will lead to more failures as central banks continue to tighten policy, warns Booth’s Raghuram Raja.
Sales, spins and splits — what are the differences and why do they matter for investors like us?
April 30, 2023 | CNBC.com
In normal market conditions, slower-growing entities that “arenʼt as exciting” are prime candidates for a pure-play spin, indicates Booth’s Laura Born.
$100 million gift to the University of Chicago Booth School of Business
April 29, 2023 | Fior Reports
“Thanks to Ross’ extraordinary generosity and bold vision,” remarks Booth’s Dean Madhav Rajan, “the Stevens Doctoral Program is poised to accelerate and expand the impact of its scholars now and long into the future.”
$100 million gift for the University of Chicago Booth School of Business
April 29, 2023 | Forbes
“It is inspiring to think about what the program can achieve in its next 100 years, building on its storied history, now amplified by Ross’s generosity,” says Madhav Rajan, Chicago Booth dean.
2023 Best & Brightest MBA: Saron Strait, University of Chicago (Booth)
April 29, 2023 | Poets & Quants
Full-Time MBA student Saron Straig talks about herself and interests, her community work and leadership roles at Booth, and more.
2023 Best & Brightest MBA: Jeff Yao, University of Chicago (Booth)
April 28, 2023 | Poets & Quants
“Though I intellectually understood coming in that Booth is highly selective,” says Full-Time MBA student Jeff Yao, “it was another thing altogether to experience the challenging debates, hear the impressive stories, and see the brilliant ideas that other students had.”
Getting the sharp end of the investing stick
April 28, 2023 | The Wall Street Journal
Private credit funds aim to achieve a rate of return of about 8 percent if they don’t use leverage or borrowed money, according to a 2021 survey by Chicago Booth’s Steven Kaplan and coauthors.
High-profile startup fraud cases raise eyebrows as VC dollars dry up
April 27, 2023 | American Inno
"When you have a frothy funding environment, it’s probably easier to hide things like you’re not making any money, than in an environment like today," says Booth’s Steven Kaplan.
How Elon Musk upended Twitter and his own reputation in 6 months as CEO
April 27, 2023 | CNN Business
“I give him some credit for trying a different business model,” indicates Luigi Zingales of Chicago Booth. “I think the business model based on user data is quite abusive.”
If there are no new ideas, how do we keep innovating?
April 24, 2023 | The New York Times
“Those responsible for monitoring accounting rules must assess whether auditors failed to properly evaluate what was happening, or whether the rules themselves are effective,” Booth’s João Granja indicates in a recent research brief.
How central banks left the West stuck in ‘a world of second best’
April 22, 2023 | The Telegraph
Chicago Booth’s Michael Weber believes central banks are in the midst of a “potential trust crisis” thanks to a disconnect which began with a failure to recognize the pressures facing families.
What will the end of the pause on student loan payments mean for retailers?
April 21, 2023 | Marketplace
“I think we’re gonna see delinquencies and defaults spike,” says Constantine Yannelis of Chicago Booth. “That’s going to damage credit scores and potentially have very long-term impacts.”
Is remote work depressing inflation? UChicago experts in alternative research explore the future
April 18, 2023 | IT Pro Magazine
Chicago Booth experts share insights and research on remote work and inflation, human apology behavior, and more.
They can’t even: A generation avoids facing its finances
April 17, 2023 | The Wall Street Journal
Young adults with lower-wage jobs may avoid budgeting and checking their bills because it makes them feel helpless, says Abigail Sussman of Chicago Booth.
Interview with Luigi Zingales: Saving capitalism from itself—and for the people
April 17, 2023 | For All
“Recessions are never a great time for capitalism because capitalism does generate inequalities and tension,” indicates Chicago Booth’s Luigi Zingales.
No startup idea? No problem. Would-be entrepreneurs can still build a business.
April 17, 2023 | Crain's Chicago Business
“Now is a good time for the entrepreneurially minded to explore Entrepreneurship Through Acquisition,” writes Alex Hodgkin, a senior advisor for Booth’s Entrepreneurship Through Acquisition program and an entrepreneur-in-residence at the Polsky Center.
Analysis-Central banks have yet to script final act of inflation fight as risks rise
April 16, 2023 | Reuters
The Fed “is not going to quit until the labor market quits,” says Booth’s Randall Kroszner. “I think it is going to be very hard to avoid something moving down and moving down relatively quickly.”
Unemployment is low. Inflation is falling. But what comes next?
April 14, 2023 | The New York Times
“Inflation is coming down, but I’m not sure that the momentum will continue if they don’t do more,” says Booth's Raghuram Rajan of the Fed’s plan to bring down inflation.
Debt pressure with Malpass
April 13, 2023 | Bloomberg Surveillance Podcast
Raghuram Rajan of Chicago Booth says IMF’s longer-term growth “doesn’t look good.”
(Interview starts at 35:50.)
Economic vigilance is ‘absolutely paramount,’ IMF chief says. Why she’s less upbeat than Yellen.
April 13, 2023 | Barron's
The dearth of dialogue between the U.S. and China, and the possibility that national security becomes a front for all sorts of protectionism, would lead to a more volatile world, explains Booth’s Raghuram Rajan.
US women now make as much or more than men in half of marriages
April 13, 2023 | Bloomberg
“The labor market changes have been such that because women are getting more educated than men, they are finally ‘making it’ in greater numbers,” explains Marianne Bertrand of Chicago Booth.
How America should support Taiwan
April 12, 2023 | Project Syndicate
"What Taiwan needs from the US is a bilateral free-trade agreement and support for Taiwan’s membership in regional trade agreements," Booth’s Chang-Tai Hsieh and coauthor write in a recent op-ed.
Outcome Health verdict makes clear the line between fraud and faking it
April 12, 2023 | Crain's Chicago Business
“What I tell my students is: Investors want to hear you say that things are going to grow to the moon,” says Steven Kaplan of Chicago Booth. “You can be very positive, but you can’t lie.”
How shoppers skirted India’s currency swap
April 10, 2023 | Futurity
Savvy consumers shielded more than $1 billion from income taxes as demonetization was implemented, according to research by Chicago Booth’s Pradeep Chintagunta and coauthors.
Private equity vs. venture capital: What’s the difference?
April 7, 2023 | Business
“Venture capital is for businesses in the earlier stage that can really scale,” explains Steven Kaplan of Chicago Booth. “They have some revenue, but they need a lot of money to grow.”
Is the ‘blunt tool’ of monetary policy actually just a dull tool?
April 7, 2023 | Marketplace
“There’s a bunch of businesses that have loans and bonds that were about zero that are going to need to refinance,” says Booth's Anil Kashyap. “And when they do, they’re going to face a much higher cost of capital.”
Surveillance: Banks In 4% Rate World
April 6, 2023 | Bloomberg Surveillance Podcast
Luigi Zingales of Chicago Booth says the banking system can't operate with interest rates at 4 percent.
IMF economist who foresaw 2008 crisis expects more bank troubles
April 6, 2023 | Bloomberg
A decade of easy money and a flood of liquidity from central banks has caused an “addiction” and a fragility within the financial system, indicates Booth’s Raghuram Rajan.
JP Morgan’s Jamie Dimon: Banking crisis not over. He’s right
April 5, 2023 | Forbes
The rate of growth of deposits of digital banks diverges sharply in the second quarter of 2022 from that of non-digital banks, according to research by Booth’s Luigi Zingales and Joao Granja and their coauthor.
Why do U.S. banks keep failing?
April 3, 2023 | CNBC
Terrence Belton of Chicago Booth discusses three main risk factors that can cause a bank to fail and the implications on the U.S. economy.
(Interview segments 1:44; 9:08.)
Health premiums and consumers’ medical costs may be about to soar, even as inflation falls
March 29, 2023 | Los Angeles Times
“Demand for healthcare workers is still running very strong,” indicates Matthew Notowidigdo of Booth. “That’s why I’m expecting to see price increases—in order to hire these workers, you’re having to offer more.”
Is tech the 'front end gateway' to nab college students as customers?
March 29, 2023 | American Banker
“There are a lot of Federal Trade Commission, CFPB, Department of Education and other financial fiduciary principles that need to be given attention,” says Chicago Booth’s David K.A. Mordecai.
How to create a 25 percent productivity hike: Lessons from Shopify’s meetings purge
March 29, 2023 | WorkLife
“Standing meetings that are large—more than a few people—and take place online [raise the likelihood that a meeting will suffer]…from the main diseases of group decision-making: social loafing and conformity pressure,” says Chicago Booth’s Ayelet Fishbach.
Why nepo babies are bad for business (sorry, ‘succession')
March 28, 2023 | NPR Planet Money
Employees working at the top 10 percent of plants were four times more productive than those working in the bottom 10 percent, according to findings by Chicago Booth’s Chad Syverson.
Experts say Apple’s move into buy now, pay later is likely to catch on with customers—and bring out the regulators
March 28, 2023 | Fast Company
While Apple will have plenty of competition in the marketplace, they’re in a good position to succeed, according to Benedict Guttman-Kenney of Chicago Booth.
Why it’s now easier to underestimate your expenses and overspend
March 27, 2023 | The Wall Street Journal
People tend to underestimate their future spending in large part because they base their predictions on typical expenses that come to mind easily, explains Abigail Sussman of Chicago Booth.
The political leanings of people who go on cruises, and more!
March 24, 2023 | The Washington Post
Bigger cities typically have the most desirable hospitals for medical travelers seeking physician services, according to research by Booth’s Jonathan Dingel and coauthors.
It’s been one year since the Fed started raising interest rates to curb inflation
March 23, 2023 | Marketplace
This time around, the Fed wanted to see inflation to believe it, and not cool the economy too quickly after Covid and its supply chain snarls, explains Anil Kashyap of Chicago Booth.
The top-ranked business schools that turbocharge careers
March 22, 2023 | Study International
When it comes to education for the most seasoned of executives, Chicago Booth leads the way. It has done so for over a century, with its suite of executive education programs that fuse intellectual stimulation, great teaching, and cutting-edge research.
Deeply, truly, very sorry: How tech CEOs talk when they lay off workers
March 21, 2023 | The Washington Post
A surprising number of layoff communications address workers using a corporate pet name, a practice that has roots in the ancient tradition of using one’s surname to indicate one’s profession, according to Ayelet Fishbach of Chicago Booth.
University of Chicago Prof. discusses Fed, banking crisis
March 20, 2023 | CNN International Business
“If nothing serious happens between now and Wednesday, I think the Fed will believe that it has done enough to stabilize the banking system,” says Chicago Booth’s Raghuram Rajan.
Investigate the bank failures
March 20, 2023 | City Journal
“A presidential commission can determine where the banks, the auditors, and the Federal Reserve erred,” writes Booth professor Luigi Zingales.
Beware the narcissist posing as a charismatic leader
March 20, 2023 | Crain's Chicago Business
“Both charisma and narcissism are often associated with entrepreneurship,” writes Kim Vender Moffat, an investor in residence at Booth’s Polsky Center. “Research of this association suggests it can both positively and negatively correlate to success.”
Three years after calls for DEI initiatives, have corporate conditions improved?
March 20, 2023 | WGN Morning News
Chicago Booth’s Felicia Joy weighs in on the current corporate efforts to focus more on diversity, equity, and inclusion.
Economists think Fed will keep raising rates despite bank turmoil
March 19, 2023 | Financial Times
The latest survey from Booth’s Initiative on Global Markets, conducted in partnership with the Financial Times, suggests the US central bank still has work to do to stamp out stubbornly high inflation.
Silicon Valley Bank collapse concerns founders of color
March 19, 2023 | Associated Press
Booth professor and entrepreneur Amy Hilliard knows how difficult it is to secure financing. It took three years to secure a loan for her cake manufacturing company, and she had to sell her home to get it started.
Banking crisis hangs over economy, rekindling recession fear
March 17, 2023 | The New York Times
“If we’re not on top of that, then what about some of these other, more shadowy parts of the financial system?” says Chicago Booth’s Anil Kashyap of the problems that went undetected at SVB and other banks.
Quantitative easing left the banking system vulnerable
March 17, 2023 | Barron's
“The U.S. Federal Reserve’s quantitative-easing program left the banking system vulnerable,” write Chicago Booth’s Raghuram G. Rajan and coauthor in a recent opinion piece.
Will ordinary Americans end up footing the bill for bank failures?
March 17, 2023 | Associated Press
Chicago Booth’s Anil Kashyap and Raghuram G. Rajan weigh in on the government’s response to the failure of two large banks and the implications on ordinary Americans.
Fed’s best option is to hike rates by 25 basis points and watch for a month and a half: Professor
March 16, 2023 | CNBC: Street Signs Asia
Booth professor Raghuram G Rajan says “doing zero would convey inappropriate signals at this point.”
Life is so expensive, people are nostalgic for 2021
March 15, 2023 | The Wall Street Journal
On average, people remember prices as being lower than they really were, according to forthcoming research from Booth’s Michael Weber and coauthor.
“Credit Suisse is a bank in search of a business,” expert says
March 15, 2023 | Yahoo! Finance
“The turmoil in Europe—and to some extent amongst the big banks in the U.S.—is how much exposure do you have to Credit Suisse if it melts down over the next few days,” explains Booth’s Raghuram G. Rajan.
The economist who won the Nobel for his work on bank runs breaks down SVB’s collapse—and his fears over what’s next
March 15, 2023 | Fortune
“Their investments were pretty long-term, and they were generating very low yields,” says Booth’s Diamond W. Diamond of SVB. “They must have figured that scenario would work fine if every depositor stayed forever.”
Silicon Valley’s startup scene is safe. At least for now.
March 15, 2023 | Yahoo! Finance
“Venture capital funds raised record commitments last year, so there's a ton of dry powder,” explains Steven Kaplan of Chicago Booth.
The Close
March 14, 2023 | Bloomberg Markets
Chicago Booth’s 2022 Nobel laureate Douglas W. Diamond discusses the distinctions between the collapse of SVB and Signature Bank and what happened in 2008.
(Interview starts at 1:56.)
What to know about the Silicon Valley Bank collapse, takeover and fallout
March 14, 2023 | NPR
“The problem was they weren't worth 100 cents on the dollar, because they were long-term interest rates,” said Chicago Booth’s Douglas Diamond of government bonds held by SVB. “Interest rates went up. They had to sell them at a discount.”
The collapse of Silicon Valley Bank: A one-off calamity, or sign of more trouble for California?
March 13, 2023 | Calmatters
Typically, federal regulators will try to find another private bank to take over the failed one, explains Booth’s Joao Granja. The fact that no buyer was immediately forthcoming reflects both “how suddenly and quickly the situation unfolded.”
Silicon Valley Bank: What experts think of US regulators response to the fallout
March 13, 2023 | CNBC Techcheck
Raghuram G. Rajan of Chicago Booth discusses the Fed’s response to the SVB fallout, bank market risk, and the contagion effect from SVB.
Two bank failures have the federal government taking extraordinary action
March 13, 2023 | NPR Morning Edition
Booth’s 2022 Nobel Prize winner Douglas W. Diamond discusses the recent bank collapses and what they say about the stability of America’s banking system.
U.S. says all deposits at failed bank will be available Monday
March 12, 2023 | The Washington Post
The collapse of Silicon Valley Bank could trigger economic problems for companies that kept large uninsured sums on deposit, explains Chicago Booth’s Anil Kashyap.
Expert thoughts on Costco credit card
March 10, 2023 | WalletHub
“keep an eye out for cards that will reward you with bigger payouts if you are patient,” suggests Booth’s professor of behavioral science Thomas Talhelm.
Hard landing or harder one? The Fed may need to choose
March 10, 2023 | Financial Times
“Beliefs in an immaculate disinflation with only mild job losses could soon be put to the test,” writes Booth’s Raghuram G. Rajan in a recent op-ed.
US payrolls top estimates
March 10, 2023 | Bloomberg Surveillance Podcast
Randall Kroszner of Chicago Booth discusses the US February payrolls report and says the labor market is still pretty hot.
How one guy’s car blog became a $1 billion marketplace
March 9, 2023 | The Wall Street Journal
Booth's Dennis H. Chookaszian says there were two driving forces behind the company’s growth. The first is that the site built a “community of interest,” and the second is that it upended the basic economics of the business.
The cost of food is down, but grocery bills are still up. Here’s why
March 8, 2023 | CNN.com
Companies view costs changes as occasional opportunities they don’t want to miss, and it’s not unusual for them to use the moment to raise prices, explains Chicago Booth’s Jean-Pierre Dubé.
What Does International Women’s Day Mean To You? And When Do We No Longer Need It?
March 8, 2023 | Forbes
Donna Swinford, Associate Dean for Student Recruitment and Admissions for MBA Programs at Chicago Booth, is optimistic, but realistic when it comes to women's increasing participation in business and finance.
Lubos Pastor: ‘Judging fund managers by the company they keep’
March 7, 2023 | Morningstar: The Long View (podcast)
Booth’s professor of finance Lubos Pastor talks about his research, academic finance, tips for investors and financial advisors, and more.
What China Can Teach Latin America About Good and Bad Graft
March 7, 2023 | Bloomberg
Corruption, while far from ideal, can be consistent with, and even contribute to, fast economic growth, says an opinion piece referencing the work of Booth professor Chang-Tai Hsieh.
Do Interest Rates Really Drive the Economy?
March 7, 2023 | Barron's
A new study from Booth professors Niels Gormsen and Kilian Huber raises new doubts about how much of a role interest rates play in business investment.
U.S. financial system vulnerable to bond market stress, Fed's Logan says
March 3, 2023 | Reuters
At IGM's "Workshop on Market Dysfunction," Dallas Federal Reserve President Lorie Logan sai the US government bond market remains vulnerable to significant shocks.
Dynamic pricing for dinner? Some Chicago restaurants experiment with charging more for prime tables
March 3, 2023 | Chicago Tribune
Booth’s Avner Strulov-Shlain shares his insights into pricing tiers, and the likelihood of businesses adopting this approach for customers in the future.
For central banks, less is more
March 1, 2023 | Finance & Development
More focused, less interventionist central banks would likely deliver better outcomes, suggests Chicago Booth’s Raghuram Rajan.
Roundtable: What challenges should procurement and supply expect in 2023?
February 28, 2023 | Supply Management
“There is no doubt the key challenge for 2023 is how we move forward digitally,” says Chicago Booth’s Nicole DeHoratius. “We need to have more visibility beyond the first tier, and by this we mean asking whether technology is in the right place or not.”
What layoffs? Many employers are eager to hang on to workers.
February 26, 2023 | The New York Times
“When the economy came back very strongly in 2020, then a lot of firms were trying to hire again and they couldn’t,” said Chicago Booth’s Matt Notowidigdo. “That experience might still be sitting with people.”
Fed addressing inflation promptly and forcefully, Jefferson says
February 24, 2023 | Reuters
Federal Reserve governor Philip Jefferson discussed the US central bank’s response to inflation at the 2023 US Monetary Policy Forum, an annual conference organized by Chicago Booth’s Initiative on Global Markets.
Fed likely to keep 25 bps pace of rate hikes: Kroszner
February 22, 2023 | Bloomberg Balance of Power
The Fed should keep its options open when it comes to rate hikes, suggests Randall Kroszner, a professor at Chicago Booth and a former governor of the Federal Reserve.
The science of lying—and why some people get away with whoppers
February 22, 2023 | Newsweek
“Many of our most difficult ethical dilemmas involve balancing honesty with benevolence,” says Emma Levine, associate professor of behavioral science at Chicago Booth.
Biden taking a big regulatory swipe at the small percentage of private equity investment in senior care
February 20, 2023 | Benzinga
A study by Chicago Booth’s Constantine Yannelis and coauthors finds that short-term mortality rates for residents jump by 10 percent after a nursing home’s purchase by a private equity firm.
Fake it till you make it? Four keys to doing it right.
February 20, 2023 | Crain’s Chicago Business
Chicago Booth’s CJ Przybyl, ’11, offers advice for entrepreneurs navigating the early days of their startup.
Opinion: California housing development remains abysmal despite reforms. Here’s what’s missing
February 19, 2023 | Los Angeles Times
Over the past century, almost all industries have become increasingly dominated by a small number of large, productive firms, according to research by Chicago Booth’s Yueran Ma and coauthors. An outlier is construction—Booth’s Austan Goolsbee and Chad Syverson found that construction value added per worker has been declining since the 1960s.
Is the economy headed for recession or a soft landing?
February 17, 2023 | NPR
“There may not be that much difference between a soft landing and a mild recession,” explains Chicago Booth's Raghuram G. Rajan. What we really need to look out for, he says, is the danger of a major recession.
Fed will raise rates to 5.5% and hold, Kroszner says
February 13, 2023 | Bloomberg Markets Americas
Chicago Booth’s Randall Kroszner says the Fed is very concerned about the labor market.
Britcoin needs to prove it can secure adoption and not spy on our consumers, experts warn
February 13, 2023 | City A.M.
Quentin Vandeweyer of Chicago Booth says central banks may deliberately make CBDCs “unattractive” to try to avoid bank runs, but suggests this may not be enough as “the main comparative advantage of a CBDC is its safety.”
States with fracking disclosure rules have higher water quality: study
February 13, 2023 | The Hill
This notion that targeted transparency can be used to influence corporate behavior has been around for a long, long time,” says Christian Leuz, professor of accounting and finance at Chicago Booth.
As demand shifts, some businesses are weighed down with too much inventory
February 8, 2023 | Marketplace
Cash tied up in inventory isn’t being used productively, said Nicole DeHoratius of Chicago Booth. “It is capital that’s not being used to invest in new parts of the business—to introduce a new product, to pay your employees more.”
The story construction tells about America’s economy is disturbing
February 5, 2023 | The New York Times
A study by Booth's Austan Goolsbee and Chad Syverson brings new evidence to bear on the industry’s measured productivity problems, and suggests that measurement error is probably not the sole source of the stagnation.
Meet Chicago Booth’s MBA Class of 2024
February 3, 2023 | Poets & Quants
Meet Chicago Booth's MBA Class of 2024 through in-depth profiles on the extraordinary students, their stories, and their dreams.
How to survive (and thrive!) in the age of too much advice
February 3, 2023 | Men's Health
“A rich person who’s always been rich is probably not the best source of advice on how to manage your budget or your finances,” says Ayelet Fishbach of Chicago Booth.
The AI boom: lessons from history
February 2, 2023 | The Economist
Measured productivity growth may actually decline in the years or decades after a new technology appears, according to findings by Booth's Chad Syverson and his colleague.
A free-for-all in national industrial policies is the wrong solution
February 1, 2023 | Politico
To address the energy crisis and digitalization, European governments “need to work to complete the single market for capital, digital and financial services, provide common EU funding for EU firms, sharpen competitiveness, and invest in a thriving university system,” according to an op-ed by Chicago Booth visiting professor Luis Garicano.
The great fraud reckoning
January 31, 2023 | Business Insider
In any given year, 10 percent of corporations committed securities fraud and 41 percent of companies “misrepresent” their financial reports, according to findings by Chicago Booth’s Luigi Zingales and coauthors.
Why is assessing job satisfaction so hard?
January 30, 2023 | The New York Times
Managers often fear they will undermine motivation if they’re too critical, completely missing the point that employees will be motivated to do better if given helpful feedback, explains Booth's Ayelet Fishbach.
‘White lies’ vs ‘whoppers’ when it comes to beefing up your resume
January 27, 2023 | WGN Morning News
When it comes to making yourself look your best to employers, it’s important to know the difference between accentuating the positive and embellishment, says Chicago Booth's John Paul Rollert.
The Justice Department accuses Google of an advertising monopoly
January 26, 2023 | NPR Morning Edition
Luigi Zingales of Chicago Booth discusses the federal antitrust case targeting Google’s digital advertising business.
Biden finally gets a win against inflation
January 25, 2023 | Politico
In the wake of an economic shock, inflation-adjusted wages might drop at first but then begin to rise as part of a normal recovery, according to findings by Chicago Booth's Guido Lorenzoni and coauthor.
Fight climate change with your investments? These experts show us how
January 24, 2023 | Better
“There is a real need and demand from corporations to make their manufacturing processes, their supply chains, their products and their packaging more sustainable,” says Chicago Booth’s Priya Parrish.
Everyone hates Ticketmaster. Is everyone wrong?
January 23, 2023 | Los Angeles Times
“Ticketmaster is effectively paid to be a punching bag,” says Chicago Booth’s Eric Budish. “Their fees find ways back to the artist or venue. And the artist chooses their ticket prices.”
Working from home means saving 55 minutes a day on average, research finds
January 23, 2023 | Washington Examiner
More than a tenth of American workers say they will keep social distancing even after the coronavirus pandemic ends, placing a permanent drag on the workforce, according to research by Booth's Steven J. Davis and coauthor.
Outcome Health founders head to trial in Chicago over alleged $1 billion fraud scheme
January 23, 2023 | Chicago Tribune
“It creates jobs, it makes people realize you can build big, interesting companies in Chicago,” said Chicago Booth's Ira S. Weiss of when companies like Outcome succeed in Chicago.
Tech layoffs shock young workers. The older people? Not so much.
January 20, 2023 | The New York Times
Early personal experiences strongly determine a person’s appetite for financial risk, according to research findings by Chicago Booth's Stefan Nagel and coauthor.
Top Fed officials make case for high rates to cool inflation
January 19, 2023 | Bloomberg
At a recent event co-sponsored by the Chicago Booth Government and Policy Club and UChicago’s Institute of Politics, Federal Reserve vice chair Lael Brainard said high interest rates were needed to keep pressuring inflation that’s showing signs of slowing but is still too rapid.
Fed governor Lael Brainard sees high rates ahead even with progress on inflation
January 19, 2023 | CNBC
Federal Reserve vice chair Lael Brainard discussed inflation, markets, and the state of the economy at a recent event co-sponsored by the Chicago Booth Government and Policy Club and UChicago’s Institute of Politics.
Could Europe end up with a worse inflation problem than America?
January 19, 2023 | The Economist
Monetary policy should tolerate somewhat higher inflation if doing so allows workers to find a new job during periods of economic change, argues Chicago Booth's Veronica Guerrieri.
Three risks, opportunities, and silver linings economists see for the economy in 2023
January 18, 2023 | Quartz
“Certainly central banks are looking for some labor market slack to give them confidence they can pause. The problem is, every time there’s a hint they can pause, financial markets take off,” says Booth's Raghuram G. Rajan.
Will crypto continue to be a speculative asset?
January 18, 2023 | CNBC
Raghuram G. Rajan of Chicago Booth discusses crypto and whether it will continue to be a speculative asset after the market crash in 2022.
Outcome Health founders' looming trial a reminder of Chicago's lagging startup sector
January 18, 2023 | Crain's Chicago Business
“Nobody wants to relive this, but we’ll have to relive it while the case is going on,” says Chicago Booth's Ira S. Weiss of the Outcome Health founders' trial.
Tapping into entrepreneurship's 'hidden curriculum'
January 17, 2023 | Crain's Chicago Business
In many cases, the hidden curriculum—in other words, the cultural norms of entrepreneurship— are both imperfect and always changing, write Erika Mercer of Booth's Polsky Center and Abigail Ingram of the Polsky Exchange.
The flaw in New Year's resolutions
January 15, 2022 | The Week
Humans need short-term successes to feel sufficiently rewarded to keep going and achieve long-term habit shifts, according to Ayelet Fishbach of Chicago Booth.
Here's why Friday the 13th scares us
January 12, 2023 | National Geographic
“We find that people who jinx themselves don’t think the bad outcome is especially likely if they knock down on wood,” explains Jane Risen of Chicago Booth. “So, the ritual does seem to help manage their concern.”
New economic 'regime' challenges central bankers to keep pace
January 12, 2023 | Reuters
“Policy has to be made in real time,” says Booth’s Randall Kroszner. “It is extremely important to have a sense of humility and realize the models you may be using, the data you are relying on, may not be appropriate going forward.”
Shopify is canceling meetings, but does that make staff any happier or more productive? Experts are divided on the new policy
January 10, 2023 | Fortune
“Meetings that require passive participation don’t offer social interactions and don’t increase engagement. They might even decrease engagement if people feel their day is wasted on meetings,” says Ayelet Fishbach of Chicago Booth.
Top Chicago economists expect interest rates to peak around 5.5%
January 10, 2023 | Bloomberg
The Federal Reserve will raise interest rates by another percentage point as it fights high inflation, according to Booth’s Wenxin Du, Randall Kroszner, and Raghuram G. Rajan.
What makes people lapse on life insurance payments?
January 9, 2023 | Policygenius
“People with high health risks should not avoid life insurance,” says Ralph S. J. Koijen of Chicago Booth. “They should be mindful, however, to purchase a policy that they can still afford during economic downturns.”
Central banks can’t win when it comes to credibility on inflation
January 9, 2023 | Financial Times
“Central banks will probably be most effective if they rebuild their commitment to combating high inflation. And if inflation falls too low, perhaps we should learn to live with it,” writes Chicago Booth’s Raghuram G. Rajan in a recent op-ed.
Getting rid of remote work will take more than a downturn
January 7, 2023 | The New York Times
“It’s not that there won’t be some loss of bargaining power by workers,” said Steven J. Davis of Chicago Booth. “It’s just that many employers have their own independent reasons to think that the shift, the partial shift, to remote work is beneficial for them as well.”
Jobs report signals ‘immaculate disinflation': Kroszner
January 6, 2023 | Bloomberg Surveillance
Randall Kroszner of Chicago Booth says the December US employment report is consistent with the view that the US may not have a significant recession.
Why we should anthropomorphize COVID-19 and the flu
January 5, 2023 | Fast Company
Endowing diseases with human qualities makes people more likely to comply with health recommendations, according to findings by Booth’s Ann L. McGill and her colleagues.
What do you want to change about your life in 2023?
January 5, 2023 | MPR News with Angela Davis
Chicago Booth’s Ayelet Fishbach talks about how to make change easier by shifting our mindset, picking realistic and inspiring goals, and using tips from psychology to stay motivated.
The global economic outlook
January 5, 2023 | Bloomberg Balance of Power (Podcast)
Booth's professor of finance Raghuram G. Rajan discusses his global economic outlook.
US may see only mild economic recession, Rajan says
January 5, 2023 | Bloomberg
The US economy may experience a small economic contraction if the financial sector is able to avoid issues as the Federal Reserve raises rates, indicates Booth's Raghuram G. Rajan.
University of Chicago commits millions to startups
January 5, 2023 | Crain's Chicago Business
Over the past quarter-century, Chicago Booth and its Polsky Center for Entrepreneurship and Innovation have become well-known launching pads for startups such as Grubhub. Now it's looking for similar success in launching companies with more of a focus on hard science.
Need motivation for 2023? Here are three ideas from scientists and coaches on how to make it your best work year yet.
January 3, 2023 | Business Insider
Struggling individuals are more motivated to achieve their goals by giving advice rather than receiving it, according to findings by Chicago Booth’s Ayelet Fishbach and coauthors.
Why talking to strangers is good for your mental health
January 3, 2023 | Los Angeles Times
Research by Chicago Booth’s Nicholas Epley and coauthors has shown that people systemically underestimate how much they will enjoy a conversation with a stranger, and how likely it is that the stranger will enjoy the conversation too.
As tech companies make cuts, will other industries follow? Here’s what to know about jobs in 2023.
January 3, 2023 | Chicago Tribune
“As interest rates continue to rise, investors just get particularly worried about risky investments, risky projects and risky stocks,” says Matthew Notowidigdo of Chicago Booth.
Rajan talks world economy in '23
January 2, 2023 | CNN International: Quest Means Business
Chicago Booth’s Raghuram Rajan shares his insights on what 2023 holds for the world economy as the IMF warns of a slowdown.
At present cryptos have little value other than as speculative device: Raghuram Rajan
January 1, 2023 | The Economic Times
“I think we certainly need to understand the technology, we need to proceed cautiously on building out a rupee CBDC,” says Raghuram Rajan of Chicago Booth.