COVID-19 Thought Leadership Digest: October 28, 2020

Today, we bring you faculty insights on the pandemic and innovation, localized restrictions, and how long it will take for the economy to bounce back. We also have key takeaways from our recent Corporate Social Responsibility Revisited conference, during which many industry experts discussed COVID-19’s impact on the social obligations of businesses. Get more details below.

COVID-19 Research and Insights from Chicago Booth Review

There will be more innovation post-COVID. Here’s why.
A post-pandemic blend of remote and in-person work will help balance efficiency and creativity, suggests professor Harry Davis.

What does business owe society?
Experts from across the globe consider the Friedman doctrine and the social responsibilities of contemporary companies, including during COVID-19.

Capitalisn’t: Should we lock down again?
Cohosted by Luigi Zingales, this episode of the Stigler Center’s podcast examines the trade-offs of different strategies for fighting COVID-19.

Why was there a Treasury bond crisis amid the COVID-19 stock market crash?
The ominous market behavior reflected a new form of inefficiency introduced as a safety measure after the 2008–09 financial crisis, according to Zhiguo He and Stefan Nagel.

Follow CBR’s COVID-19 page and social channels for the latest insights from Booth faculty.

Select Thought Leadership in the Media

Chicago-area grocers stock up to ward off shortages as COVID-19 cases rise
Oct. 23 | Chicago Tribune
Even though many essentials are still in high demand, experts including Booth’s Constantine Yannelis say they don’t expect as much panic buying as in the spring.

To say there’s no trade-off between health and the economy during lockdown is a convenient delusion
Oct. 23 | The Times
COVID-19’s R has remained close to 1 in the US since July. Randall Kroszner says it has to give pause for those who say there’s no trade-off and no real economic cost of lockdown.

Former US Fed governor warns global economy faces a ‘long slog ahead’
Oct. 23 | Yahoo! Finance
The virus is “going to have a long term impact on demand in certain sectors,” says Randall Kroszner.

When Milton Friedman, prophet of profit, met a pandemic
Oct. 21 | Financial Times
As COVID-19 threatens the existence of many businesses, Raghuram Rajan suggests the best thing a company can do is focus its resources on survival.

The economy won’t be back to normal until 2022 or later, according to our survey of economists
Oct. 19 | FiveThirtyEight
There’s a 66 percent probability the economy won’t be back to normal until at least 2022, according to the latest survey from the Initiative on Global Markets and FiveThirtyEight.

As virus flares globally, new strategies target hot spots
Oct. 19 | Associated Press
John Birge and Ozan Candogan have been modeling how localized restrictions in New York City could best minimize both infections and economic harm.

To stay up-to-date with media mentions, follow Booth’s In the News page and social channels.

COVID-19 Content across Campus

Pandemic Economics: Deep dive series—is the future cashless?
When COVID lockdowns started, the use of cash plummeted. Raghuram Rajan joins BFI’s podcast to discuss the economic effects of banning or introducing cash in today’s markets.

Is COVID-19 changing Americans’ beliefs and preferences?
The Rustandy Center, Poverty Lab, and NORC are in the last wave of their longitudinal survey on how Americans are reacting to the COVID-19 crisis.

Stock prices, lockdowns, and economic activity in the time of coronavirus
A BFI working paper coauthored by Steven J. Davis finds that stricter lockdown policies drove large declines in national stock prices.

Private equity firms seek new investments, eye growth amid COVID-19 pandemic
The Polsky Center shared Steven Neil Kaplan’s research findings that private equity managers were not as optimistic as the venture capital investors Kaplan surveyed over the summer.

Chicago Booth alum launches startup to train young poll workers
UChicago News reposted an article from Booth Stories on the Poll Hero project founded by Avi Stopper, ’06, which aims to tackle the poll worker shortage amid COVID-19.