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...
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.
EDE is a University of Chicago Summer Institute designed to identify and support talented undergraduate students from a broad range of backgrounds interested in the study of economics.
Neil A. Cholli, Steven Durlauf, Rasmus Landersø, and Salvador Navarro
Recent research has uncovered large spatial heterogeneity in intergenerational mobility across neighborhoods in countries around the world. Yet there is little consensus on the reasons why mobility is high in some neighborhoods and low in others. This paper analyzes a...
Samuel Chang, Andrew Kennedy, Aaron Leonard, and John List
We provide twelve best practices and discuss how each practice can help researchers accurately, credibly, and ethically use Generative AI (GenAI) to enhance experimental research. We split the twelve practices into four areas. First, in the pre-treatment stage, we discuss...
Sadegh S.M. Eshaghnia, James Heckman, Rasmus Landersø, and Rafeh Qureshi
This paper studies intergenerational mobility—the transmission of family influence. We develop and estimate measures of lifetime resources motivated by economic theory that account for differences in life-cycle trajectories, and uncertainty about future income. We identify the effects of parents’ resources...
This paper studies the transmission of monetary policy to the stock market through investors’ discount factors. To isolate this channel, we investigate the effect of US monetary policy surprises on the ratio of prices of the same stock listed simultaneously in Hong Kong and Mainland China, and thereby control for revisions in cash-flow expectations. We find this channel to be strong and asymmetric, with the effect driven by surprise monetary policy interest rate cuts. A 100 basis point surprise cut results in a 30 basis point increase in the ratio of stock prices over 5 days. These results suggest significant slow-moving reductions in stock market risk premia following accommodating monetary policy surprises.
