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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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        • How Small is Small? Non-linearities in Heterogeneous Agent Models
          Javier Bianchi and Greg Kaplan

          In plausibly calibrated heterogeneous-agent models, marginal propensities to consume (MPCs) are highly non-linear in wealth, falling sharply away from borrowing constraints. As a result, the aggregate consumption response to a fiscal transfer is strongly concave in its size: larger transfers...

          Leveraging Artificial Intelligence and Field Experiments to Explore Novel Features of Parental Speech and Foster Child Development
          Julie Pernaudet, John List, Arnoldo Müller-Molina, Majid Ahmadi, Imrul Huda, Ajay Sailopal, and Dana Suskind

          Parents play a critical role in shaping children’s skills during the first years of life. Yet, identifying the contributors to richer learning environments remains difficult due to various unobservable factors. In this paper, we combine field experiments with AI to...

          Intergenerational Mobility in Late Qing Dynasty: Evidence from Northeast China
          Kristina Butaeva, Steven Durlauf, and Alexander Shapoval

          This paper examines intergenerational mobility across social classes during the late Qing dynasty employing a remarkable data set from Liaoning province in Northeast China. We identify two distinct epochs with markedly different mobility dynamics. Before 1850, mobility patterns exhibited stability...

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          Does Scarcity Tax Parents’ Minds?
          Consuming Values
          Why Bans Fail: Tipping Points and Australia’s Social Media Ban
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        • 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
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        • Podcasts

          Tied to the Job: The Gains from Permanent Residency
          Life as a Lab: John List on the Art and Ethics of Field Experiments
          Wealth of Institutions: Randall Kroszner on Why Markets Stayed Calm While the Fed Came Under Fire
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          BFI Youtube Channel external
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          Jun 14

          2026 Price Theory Summer Camp

          Jul 9

          2026 Early Career Behavioral Economics Conference

          Aug 20

          Economic Theory Conference XI

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People·Visiting Scholar

Chris Clayton

Yale University
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© 2026 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
          • 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
        • Global Initiatives
          • BFI-China
          • BFI-Latin America
          • Tata Centre for Development
        • View All caret-right
        • Programs & Centers
          • Development Economics Center
          • Expanding Discovery in Economics+ (EDE+)
          • Experimental Economics Program
          • Global Center for Economic Growth - Growth Academy
          • Gracias Center for Human Sciences and Well-Being
          • 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
        • How Small is Small? Non-linearities in Heterogeneous Agent Models
          Javier Bianchi and Greg Kaplan

          In plausibly calibrated heterogeneous-agent models, marginal propensities to consume (MPCs) are highly non-linear in wealth, falling sharply away from borrowing constraints. As a result, the aggregate consumption response to a fiscal transfer is strongly concave in its size: larger transfers...

          Leveraging Artificial Intelligence and Field Experiments to Explore Novel Features of Parental Speech and Foster Child Development
          Julie Pernaudet, John List, Arnoldo Müller-Molina, Majid Ahmadi, Imrul Huda, Ajay Sailopal, and Dana Suskind

          Parents play a critical role in shaping children’s skills during the first years of life. Yet, identifying the contributors to richer learning environments remains difficult due to various unobservable factors. In this paper, we combine field experiments with AI to...

          Intergenerational Mobility in Late Qing Dynasty: Evidence from Northeast China
          Kristina Butaeva, Steven Durlauf, and Alexander Shapoval

          This paper examines intergenerational mobility across social classes during the late Qing dynasty employing a remarkable data set from Liaoning province in Northeast China. We identify two distinct epochs with markedly different mobility dynamics. Before 1850, mobility patterns exhibited stability...

        • View All caret-right
  • Insights
        • Research Briefs

          Does Scarcity Tax Parents’ Minds?
          Consuming Values
          Why Bans Fail: Tipping Points and Australia’s Social Media Ban
        • 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

          Tied to the Job: The Gains from Permanent Residency
          Life as a Lab: John List on the Art and Ethics of Field Experiments
          Wealth of Institutions: Randall Kroszner on Why Markets Stayed Calm While the Fed Came Under Fire
        • 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

          Jun 14

          2026 Price Theory Summer Camp

          Jul 9

          2026 Early Career Behavioral Economics Conference

          Aug 20

          Economic Theory Conference XI

        • 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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