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.
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+ (EDE+) brings together a diverse group of early undergraduate students to hone their research abilities and technical skills.
Leonardo Bursztyn, Matthew Gentzkow, Rafael Jiménez-Durán, Aaron Leonard, Filip Milojević, and Christopher Roth
Market definition is essential for antitrust analysis, but challenging in settings with network effects, where substitution patterns depend on changes in network size. To address this challenge, we conduct an incentivized experiment to measure substitution patterns for TikTok, a popular...
Veronica Guerrieri, Guido Lorenzoni, and Iván Werning
Individual central banks respond to global supply shocks that transmit inflationary pressures—such as oil prices, shipping costs, and bottlenecks in global supply chains—taking these conditions as given. However, their combined global response deter-mines global demand and, thus, the resulting global...
Wages vary substantially between and within cities. While wages are on average higher in larger cities, the real earnings of low-wage workers are lower. Using French matched employer-employee data, I document two novel facts that highlight the role of employers...
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.
The human capital investment model with endogenous labor supply is generalized to consumer and health behaviors while retaining the tractability of comparative-static analysis of a single first-order condition. Accounting for the endogenous specialization responses is essential to properly distinguish supply and demand factors and to understand how the magnitude of their effects vary across time and circumstances. Even signing effects of policy interventions can hinge on the existence and extent of personal increasing returns. Applications include the gender gap in earnings, the dynamics of substance abuse, effects of taxes on human capital, the tradeoff between product quality and quantity, and unintended consequences of energy regulation. Metrics are provided for assessing the extent of personal increasing returns.
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.
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+ (EDE+) brings together a diverse group of early undergraduate students to hone their research abilities and technical skills.
Leonardo Bursztyn, Matthew Gentzkow, Rafael Jiménez-Durán, Aaron Leonard, Filip Milojević, and Christopher Roth
Market definition is essential for antitrust analysis, but challenging in settings with network effects, where substitution patterns depend on changes in network size. To address this challenge, we conduct an incentivized experiment to measure substitution patterns for TikTok, a popular...
Veronica Guerrieri, Guido Lorenzoni, and Iván Werning
Individual central banks respond to global supply shocks that transmit inflationary pressures—such as oil prices, shipping costs, and bottlenecks in global supply chains—taking these conditions as given. However, their combined global response deter-mines global demand and, thus, the resulting global...
Wages vary substantially between and within cities. While wages are on average higher in larger cities, the real earnings of low-wage workers are lower. Using French matched employer-employee data, I document two novel facts that highlight the role of employers...
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.
