The Becker Friedman Institute for Research in Economics

Through sustained collaborative research initiatives, conferences, workshops, and support for young scholars, we cultivate new knowledge and pursue answers to complex economic and policy questions. Learn more »

We are a nexus for economic exploration, drawing the best minds from around the world to Chicago. We host visiting fellows and conferences that bring researchers together for cross-disciplinary collaboration. When scholars come together to share perspectives, new ideas are born. Learn more »

We support young economists with rare opportunities to focus in depth on their research and build their skills. Programs for undergraduates and other students highlight cutting-edge research and the power of economic analysis to address policy challenges. Learn more »

Milton Friedman, his student Gary Becker, and many UChicago economists who came before and after them set high standards for uncompromising scholarship. Honoring their example, we support groundbreaking research and collaborate to develop world-changing ideas for the 21st century. Learn more »

Chicago's Economic Legacy
Remembering Robert W. Fogel
The 1993 Nobel laureate's "number-crunching empiricism upended established thinking." Details »
Video:

Milton Friedman & Chicago Economics

The Institute advances the Chicago economic legacy with research that produces powerful ideas. Video »
Future Home of the Institute

The new facility will become a nexus for academic exchange and a true intellectual destination. Learn more »
Research highlight:

Index Measures Impact of Policy Uncertainty

Policy uncertainty is at historically high levels, according to new work by Visiting Fellow Nicholas Bloom and colleagues. Learn more »
A Discussion with Edward P. Lazear:

The US Economy—Are We Having Fun Yet?

How much is the U.S. growing today and how are we likely to grow in the future?
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Preparing Tomorrow's Economists:

Undergraduates Honored

The institute recognized three economics majors in the college for outstanding academic achievement or service.
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Upcoming Events

June 23–27: Price Theory Summer Camp: During this intensive one-week program, PhD students hear lectures from UChicago price theory faculty and experience a series of "Chicago-style" seminars where faculty present their research in progress.
July 22–23: Networks in Macroeconomics and Finance: Scholars present empirical and theoretical analyses on recent advances in finance and macroeconomics that examine the role of complex networks between financial institutions and other sectors of the economy.
Economic Research Experience for Undergraduates: The program offers undergraduate students an opportunity to learn about diverse research topics and methods from some of the University's top economists. Register here »; See full calendar »
Check back here often for updated details.

News from the Institute

Tribute to Robert W. Fogel: The late Nobel laureate was generous mentor who loved politics and this country, colleague recalls.
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Employment is Best Measure of Labor Market Strength: Unemployment rates hide stubborn stagnation in the share of population actually working, says Professor Edward Lazear.
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Financial Trust Index Rises; Anger over Economy Remains: The Chicago Booth/Kellogg School Financial Trust Index rose to 28 percent, its highest level since 2008, but half of Americans remain angry about the economy.
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List Finds Gender Differences in Giving: Study shows women are more likely than men to opt out of door-to-door solicitations.
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Shared Vision: Melamed and Becker Talk: CME Group's Leo Melamed interviews Gary Becker about the longstanding relationship between the exchange and the University of Chicago.
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Becker Advocates Paying Parents to Boost Student Performance: Gary Becker highlighted research showing that monetary incentives to families can improve students’ achievement in school in a recent speech that also addressed Social Security, tax policy, and the drug war.
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Cochrane: America Needs Alternative Maximum Tax: In the Wall Street Journal, John Cochrane makes the case for limiting economic damage of taxes with a cap on total taxation.
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Internet Sales Tax Bill Would Hurt Small Businesses: Without an exception for mom & pop businesses, the Marketplace Fairness Act is unfair, writes former Visiting Fellow John Donahue.
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Negotiating Salary May Explain Gender Wage Gap: Men are more likely than women to negotiate salary when a job posting does not indicate that wages are negotiable, a field experiment by Andreas Leibbrandt and John List shows. Women will negotiate when the job ad states that salary is negotiable, and end up earning the same or more than men.
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Early Education Investment Produces Greater Returns: James J. Heckman’s research is cited in an article arguing that the U.S. should shift education investment from higher education to early childhood.
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Economist Explores Online Privacy: The New York Times featured 2012 Visiting Fellow Alessandro Acquisti’s study of individual choices to reveal personal data.
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Davis Paper on Policy Uncertainty Honored: The Fraser Institute awarded the Addington Prize in Measurement to work by Chicago Booth’s Steve Davis and Nick Bloom and Scott Baker of Stanford.
Details » | Paper »
Comparative Economics Group to Analyze Societies Across History: The Neubauer Family Collegium for Culture and Society has established a cross-disciplinary working Group on Comparative Economics.
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Cochrane Calls for Longer-Term US Debt: Converting federal debt to 30-year bonds would lock in low interest rates and buy time to cut the deficit, Chicago Booth professor John Cochrane wrote in the Wall Street Journal.
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Becker, Lazear Propose Market Solution to Immigration Reform: A quick way to gain the skills to boost the economy is through immigration, by selling rights to citizenship, Gary S. Becker and Edward Lazear argue in the Wall Street Journal.
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Is a Minimum Wage Hike a Good Idea?: Gary Becker and Richard Posner review the evidence in their blog.
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Heckman Highlights Return on Early Childhood Investment: James J. Heckman outlined the economic and societal benefits of early childhood education on “All Things Considered” and the Washington Post.
NPR » | Post »
Becker, Murphy Call for End to War on Drugs: The human cost is too high and it is time to consider decriminalization, Gary Becker and Kevin Murphy write.
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