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Becker Friedman Institute for Economics
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        • About the Becker Friedman Institute
          The Becker Friedman Institute for Economics (BFI) serves as a hub for cutting-edge analysis and research across the entire University of Chicago economics community, uniting researchers from the Booth School of Business, the Kenneth C. Griffin Department of Economics, the...
        • Our Legacy
          Inspired by our namesakes, Nobel Laureates Gary Becker and Milton Friedman, who believed that economics research could help improve the world, BFI works with the Chicago Economics community to turn its evidence-based research into real-world impact.
        • Pre-Doctoral Research Professionals
          The Predoctoral Research in Economics Program (PREP) is intended to serve as a bridge between college and graduate school for students interested in empirical economics. The program offers unique research and professional training opportunities at the University of Chicago.
        • Expanding Discovery in Economics+
          Expanding Discovery in Economics+ (EDE+) brings together a diverse group of early undergraduate students to hone their research abilities and technical skills.
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        • Fast Action for Floods: RCT Evidence on Forecastbased Cash Transfers from Bangladesh and Nepal
          Paul J. Christian, Felipe A. Dunsch, Jonas Heirman, Erin M. Kelley, Florence Kondylis, Gregory Lane, Jennifer Waidler, Nidhila Adusumalli, Odbayar Batmunkh, and Kriti Malhotra

          As increasingly frequent extreme weather events disrupt lives, institutions are turning to earlywarning systems and advance preparation to accelerate aid delivery. We present evidence from a randomized controlled trial in Bangladesh and Nepal testing whether providing cash within days of...

          The Mortgage Debt Channel of Monetary Policy when Mortgages are Liquid
          Matthew Elias, Christian Gillitzer, Greg Kaplan, Gianni La Cava, and Nalini Prasad

          We examine what is widely considered to be one of the strongest channels of monetary policy transmission into household spending – the effect of changes in mortgage payments when mortgage rates are linked to the short-term policy rate. Using bank...

          Jealousy of Trade: Exclusionary Preferences and Economic Nationalism
          Alex Imas, Kristóf Madarász, and Heather Sarsons

          This paper presents a new framework for understanding economic nationalism based on an empirically-validated desire for dominance, which generates a preference for exclusionary policies. We incorporate such preferences into a model of international trade. The model predicts that exclusionary preferences...

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          Who Pays for Tariffs Along the Supply Chain? Evidence from European Wine Tariffs
          Jealousy of Trade: Exclusionary Preferences and Economic Nationalism
          Five Facts about the First-Generation Excellence Gap
        • View All caret-right
        • BFI Data Studio

          Unlocking the Power of Markets as a New Tool for Regulating Pollution
          Explore Historical Manufacturing Data
          The Hidden Volatility of American Workers’ Paychecks
        • View All caret-right
        • Podcasts

          You Might Also Like: Farmer’s A.I. Manac, from Shocked
          Economic Cheat Codes: How Game Theory Can Help You Win at Work, Love, and Life
          Moving to Opportunity: Together?
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          2025 Social Economics Conference

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          Development Lunch Workshop – Fall 2025

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          Fall 2025 Behavioral Economics Seminar Series

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Media Mention·Jan 30, 2025

Many governments talk about cutting regulation but few manage to

The Economist; Eric Zwick and Chang-Tai Hsieh
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  • Eric Zwick
  • Chang-Tai Hsieh
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© 2025 Becker Friedman Institute for Economics at the University of Chicago

  • About
        • About the Becker Friedman Institute
          The Becker Friedman Institute for Economics (BFI) serves as a hub for cutting-edge analysis and research across the entire University of Chicago economics community, uniting researchers from the Booth School of Business, the Kenneth C. Griffin Department of Economics, the...
        • Our Legacy
          Inspired by our namesakes, Nobel Laureates Gary Becker and Milton Friedman, who believed that economics research could help improve the world, BFI works with the Chicago Economics community to turn its evidence-based research into real-world impact.
        • Pre-Doctoral Research Professionals
          The Predoctoral Research in Economics Program (PREP) is intended to serve as a bridge between college and graduate school for students interested in empirical economics. The program offers unique research and professional training opportunities at the University of Chicago.
        • Expanding Discovery in Economics+
          Expanding Discovery in Economics+ (EDE+) brings together a diverse group of early undergraduate students to hone their research abilities and technical skills.
        • Visitors & Fellows
        • Our Team
        • BFI Employment Opportunities
        • Contact
  • Network
        • Research Initiatives
          • Big Data Initiative
          • Chicago Experiments Initiative
          • Health Economics Initiative
          • Industrial Organization Initiative
          • International Economics and Economic Geography Initiative
          • Macroeconomic Research Initiative
          • Political Economics Initiative
          • Price Theory Initiative
          • Public Economics Initiative
          • Ronzetti Initiative for the Study of Labor Markets
          • Socioeconomic Inequalities Initiative
        • View All caret-right
        • Regional Initiatives
          • BFI-China
          • BFI-Latin America
          • Tata Centre for Development
        • View All caret-right
        • Programs & Centers
          • Expanding Discovery in Economics+ (EDE+)
          • Development Economics Center
          • Global Center for Economic Growth - Growth Academy
          • Macro Finance Research Program
          • Program in Behavioral Economics Research
          • TMW Center for Early Learning + Public Health
        • View All caret-right
  • Scholars
    • UChicago Scholars
    • Visiting Scholars
    • Saieh Family Fellows
    • Predoctoral Research Professionals
  • Research
        • Fast Action for Floods: RCT Evidence on Forecastbased Cash Transfers from Bangladesh and Nepal
          Paul J. Christian, Felipe A. Dunsch, Jonas Heirman, Erin M. Kelley, Florence Kondylis, Gregory Lane, Jennifer Waidler, Nidhila Adusumalli, Odbayar Batmunkh, and Kriti Malhotra

          As increasingly frequent extreme weather events disrupt lives, institutions are turning to earlywarning systems and advance preparation to accelerate aid delivery. We present evidence from a randomized controlled trial in Bangladesh and Nepal testing whether providing cash within days of...

          The Mortgage Debt Channel of Monetary Policy when Mortgages are Liquid
          Matthew Elias, Christian Gillitzer, Greg Kaplan, Gianni La Cava, and Nalini Prasad

          We examine what is widely considered to be one of the strongest channels of monetary policy transmission into household spending – the effect of changes in mortgage payments when mortgage rates are linked to the short-term policy rate. Using bank...

          Jealousy of Trade: Exclusionary Preferences and Economic Nationalism
          Alex Imas, Kristóf Madarász, and Heather Sarsons

          This paper presents a new framework for understanding economic nationalism based on an empirically-validated desire for dominance, which generates a preference for exclusionary policies. We incorporate such preferences into a model of international trade. The model predicts that exclusionary preferences...

        • View All caret-right
  • Insights
        • Research Briefs

          Who Pays for Tariffs Along the Supply Chain? Evidence from European Wine Tariffs
          Jealousy of Trade: Exclusionary Preferences and Economic Nationalism
          Five Facts about the First-Generation Excellence Gap
        • View All caret-right
        • BFI Data Studio

          Unlocking the Power of Markets as a New Tool for Regulating Pollution
          Explore Historical Manufacturing Data
          The Hidden Volatility of American Workers’ Paychecks
        • View All caret-right
        • Podcasts

          You Might Also Like: Farmer’s A.I. Manac, from Shocked
          Economic Cheat Codes: How Game Theory Can Help You Win at Work, Love, and Life
          Moving to Opportunity: Together?
        • View All caret-right
        • Videos

          BFI Youtube Channel external
          Captivating and informative videos on the latest insights and trends as well as the tested stock of knowledge in economics from leaders in academia, policy, business, and the media.
  • Events
        • Upcoming Events

          Nov 7

          2025 Social Economics Conference

          Nov 7

          Development Lunch Workshop – Fall 2025

          Nov 10

          Fall 2025 Behavioral Economics Seminar Series

        • View All caret-right
  • News
    • BFI News
    • Media Mentions
    • Press Releases
  • Info For
    • Scholars
    • Students
    • Media
    • Pre-Doctoral Research Professionals
  • Subscribe
    • Join Our Weekly Briefing Newsletter
    • Newsletter Archive
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