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.
I examine how firms strategically bundle news reports to offset the negative effects of a privacy breach disclosure. Using a complete dataset of privacy breaches from 2005 to 2014, I find that firms experience a small and significant 0.27% decrease in their stock price on average following the breaking news disclosure of the privacy breach. But controlling for media coverage, this small decline is offset by an increase in the effect of a larger than usual number of positive news reports released by the firm on that day, which could increase the returns by 0.47% for every additional positive news report compared to their usual media coverage. I further find that disclosure laws have a significant and negative effect on the returns, even when news releases are used to alleviate the decrease. Moreover, a portfolio constructed with breached firms controlling for state disclosure laws outperforms the market over the 2007-2014 period, especially in the case of breached firms in mandatory disclosure states.
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.
