||Becker Advocates Paying Parents to Boost Student
||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.
||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.
||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.
||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.
||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
||Economist Explores Online Privacy
||The New York Times featured 2012 Visiting Fellow Alessandro Acquisti’s study of individual
choices to reveal personal data.
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.
||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.
||Becker, Lazear Propose Market Solution to Immigration
||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.
||Is a Minimum Wage Hike a Good Idea?
||Gary Becker and Richard Posner review the evidence in their blog.
||Heckman Highlights Return on Early Childhood
||James J. Heckman outlined the economic and societal benefits of early
childhood education on “All Things Considered” and the
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.
Regulations Linked to Lower Productivity
||John List and Chad Syverson coauthored a study that finds substantial costs
from environmental regulations, with a 4.8 percent drop in productivity for
manufacturers in non-attainment counties.
||Outstanding Students Selected for Macro Financial Modeling (MFM) Group
||Six advanced graduate students from top institutions across the country
were selected by the MFM Group to be funded for one year based on their
dissertation proposal submissions to the Macro Financial Modeling Group initiative.
Not Structural Forces Behind Stubbornly High Unemployment
||In a new NBER working paper, Edward
Lazear and James Spletzer find no compelling structural changes in the
labor market that explain the pattern of persistently high unemployment seen
since early 2007.
Aversion Enhances Teacher Incentive Schemes
||Merit pay systems for teachers produce only limited gains in
students’ academic achievement, studies have shown. Steven Levitt, John List and coauthors show that using
loss aversion—giving teachers a bonus they must pay back if their
students don't reach academic goals—leads to significant gains in student
Are Milton Friedman’s Philosophies Dead?
||Distinguished panelists at Chicago Booth’s 2013 Economic
Outlook say his ideas remain relevant yet open to challenge—and he
would want it that way.
||Townsend Wins 2012 Frisch Medal
||Distinguished Fellow Robert M.
Townsend and Joseph P. Kaboski shared the Econometric Society's prestigious
Frisch Medal for 2012 for their paper on the structural evaluation of
||Challenges in Identifying and Measuring Systemic Risk
||In a recent working paper, Lars Peter
Hansen details the issues explored by the Macroeconomic Modeling and
Systemic Research Initiative.
||High Debt Levels May Be Prolonging Recession
||Professor Amir Sufi’s research shows household debt is limiting
consumption and slowing recovery. Details »
||Davis Develops Uncertainty Index
||Chicago Booth Professor Steven Davis and colleagues have developed an index
of policy-related economic uncertainty that can estimate the decline in
business investment, employment, and economic output. Details »
Reforming the Patent System
||Gary S. Becker writes on the patent system, its purpose, costs, and
obstacles to reform.Details
Two from UChicago Elected to Leadership of Law and Economics
||Two Chicago Law professors are now dcirectors of the American Law and Economics Association, joining
three colleagues already in leadership roles with group.
||Institute Names First Executive
||Thomas Coleman, AM’81, PhD’84, an experienced financial
industry executive, joins the Institute July 9.
||Macro Financial Modeling Initiative
Offers Dissertation Support
||This initiative is offering dissertation for doctoral students in economics
or other fields pursuing innovative work on macroeconomic models with financial
sector linkages or related topics in this area. Applications for the first
grant cycle were due June 15, 2012. Awards will be made in the early fall.
Uhlig’s Research Highlights the Limits of Taxation
||Harald Uhlig’s research with Mathias Trabandt of the Federal Reserve
comparing the Laffer curves of the US and 14 European nations was highlighted
in a recent Forbes article.
Cochrane Argues for Markets, Not Mandates
||In the Wall Street Journal, Professor John Cochrane made the case
for deregulated, competitive markets in individual catastrophic insurance and
||Watch London Panel Discussion on the
||The Institute took its expertise abroad, with a panel discussion in London
that explored the interplay between financial markets and the macroeconomy.
Video of the event is now available.
Sargent Offers Fiscal History Lesson
||In a Wall Street Journal piece, Distinguished Fellow Thomas J.
Sargent says Europe might learn from America's early fiscal crisis and
Heckman Speaks at White House Early Education Announcement
||Professor James J. Heckman spoke of empirically proven economic and social
gains from quality early childhood education and care at a ceremony announcing
Early Learning Challenge Grants.
Systemic Risk Measurement
||Scholars, regulators, and practitioners gathered to discuss better
Heckman to Lead Econometric Society
||James J. Heckman was elected second vice-president and will become
president in 2013.
for Clunkers had Modest Effects
||Chicago Booth's Amir Sufi and coauthor Atif Mian found the program mostly
||Rosenfield Gift to Foster Studies
Drawing on Economics, Policy and Law
||The donation will fund the Andrew and Betsy Rosenfield Program in
Economics, Public Policy and Law.
||Institute, Colleagues Toast Nobel
||Sargent, Sims honored at fiscal imbalance conference dinner.
Lazear Calls for Structural Reform in Europe
||The domino model is the wrong way to view the European debt crisis, Edward
||Distinguished Fellow Sargent Wins Nobel
||The Becker Friedman Institute congratulates colleagues Thomas J. Sargent and Christopher Sims, who were
honored “for their empirical research on cause and effect in the
Sargent Wins CME Group-MSRI Prize
||Distinguished Visitor Thomas J. Sargent of NYU received the prize for
innovative quantitative applications on Sept. 26.
||Job Loss Felt on Income for 20 Years
||Income remains lower for years after losing a job, and the impact is worse
if the job loss occurs in a recession, according to Chicago Booth's Steve
Becker Comments on Great Recession
||In a Wall Street Journal op-ed, Gary Becker points to government policies
that contributed to the recession.
||Announcing the Becker Friedman
||Friedman Institute joins forces with the Becker Centerbecome the Becker
Friedman Institute for Research in Economics
New Fogel Book Makes the Case for ‘Technophysio
||Decades of research documents linkages between body size and social and
Shapiro's Gas Price Study Shows Evidence of Mental Accounting
||Customers switch to lower grades when gas prices rise, but do not choose
cheaper orange juice, showing that gas money is not fungible.
Chicago Researchers Win Sloan Fellowships
||The awards recognize their potential to contribute to their fields.
||Luncheon Marks Coase's 100th
||Colleagues and university leaders gathered to honor the Nobel
||Hansen to Receive BBVA Frontiers of
||Hansen was honored for making fundamental contributions to our
understanding of how economic actors cope with risky and changing
wins Grant to Study Human Capital, Economic Inequality
||An international research group will explore links between education trends
and income inequality, productivity growth, global competitiveness, fiscal
imbalance, and more.
Ph.D. Student Wins Morgan Stanley Prize
||Chicago Booth student Nina Boyarchenko won the inaugural prize for her
paper on the 2007 financial crisis.
||Hansen Gives Princeton Lectures in
||Lars Peter Hansen explored links between asset pricing and macroeconomic
modeling in this prestigious series.
||Chicago Booth Economists
Predict Continued Growth, Stagnant Housing
||University of Chicago Booth School of Business economists forecast home
prices will remain near their current levels for the next few years but the
U.S. economy could grow faster in 2011.
||Panel Discusses Future of
||The Chicago Society and Oeconomica hosted three distinguished scholars who
offered views on the response to the financial crisis.
||Nominations Accepted for Visiting
||We seek nominations of tenured and pre-tenure faculty for fellowships
lasting from one academic quarter to one year. These fellowships are designed
to offer scholars at any point in their career the freedom to explore promising
lines of inquiry in a flexible environment without teaching
||Nominations Open for Research
||The Becker Friedman Institute offers prestigious postdoctoral positions to
applicants who demonstrate the ability to generate outstanding research in
economics. Generally, candidates should be proposed by faculty under whom they
Has No Effect On Stock Prices, Study Finds
||In a randomized study, Chicago Booth's Steve Kaplan and Toby Moskowitz
created supply shocks in stock lending and found they have no effect on
returns, volatility, skewness, and bid-ask spreads.
||Beijing Forum Explores China's
||Gary Becker and James Heckman, members of the MFI Faculty Steering Committee, joined Thomas
Ginsburg of the Law School in Beijing Sept. 15 for a panel exploring economic
development and the rule of law in China at an event marking the opening
of the University of Chicago's Center in Beijing.
||Goolsbee to Chair Council of
||President Barack Obama has named Austan
Goolsbee to be the chairman of the White House Council of Economic
||Rajan Calls for Global
||The world economy is in desperate need of fiscal rebalancing, but world
leaders are unlikely to make the hard choices needed to restore more balanced
trade, Raghuram Rajan writes in his latest
Fault Lines blog post. The IMF could rally support.
||New Forum to Explore Questions of
||The University of Chicago Booth School of Business and the Law School have
launched the Chicago Forum on Contracting to bring together scholars across
departments and disciplines for collaborative exploration of the foundations
and evolving questions of contract theory.
Chicago Booth Professors Contribute to Squam Lake Report
||Faculty Steering Committee member John Cochrane, Douglas Diamond, Anil
Kashyap, and Raghuram Rajan are among 15 economists contributing to The
Squam Lake Report, a financial crisis-prevention manual.
||Economics Professor Shimer Receives Sherwin
||Robert Shimer was presented the Sherwin Rosen Prize for Outstanding
Contributions in the Field of Labor Economics at Society of Labor Economics
(SOLE) meeting in June.
||Heckman named to
||Faculty Steering Committee member James Heckman was elected into the
National Academy of
Education, which is dedicated to education research and its use in policy
formation and practice. In July he was also elected into the Academia
Sinica, an international research institution aimed at
improving academic research conditions and standards through placing great
emphasis on opening up new areas of intellectual endeavor.