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.
Michael Gibbs, Friederike Mengel, and Christoph Siemroth
Using data from over 28,000 innovators within a firm, we study how network position affects innovation, measured by the quality of ideas proposed in a formal suggestion system. Network degree is associated with higher quality ideas. Bridging across structural holes...
Inspired by the Silicon Valley Bank run and building on Diamond-Dybvig (1993), we develop a model in which asset price fluctuations can trigger bank runs. Liquidation amounts to selling assets at their market price. Depositors can buy and hold the...
We study the welfare effects of marginal and larger sales tax reforms in the U.S. Using a panel of sales taxes, we find that demand is relatively inelastic and that consumers bear the full incidence of the tax changes. We...
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.
China’s investment rate is one of the highest in the world, which naturally leads one to suspect that the return to capital in China must be quite low. Using the data from China’s national accounts, we estimate the rate of return to capital in China. We find that the aggregate rate of return to capital averaged 25% during 1978-1993, fell during 1993-1998, and has become flat at roughly 20% since 1998. This evidence suggests that the aggregate return to capital in China does not appear to be significantly lower than the return to capital in the rest of the world. We also find that the standard deviation of the rate of return to capital across Chinese provinces has fallen since 1978.
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.
Michael Gibbs, Friederike Mengel, and Christoph Siemroth
Using data from over 28,000 innovators within a firm, we study how network position affects innovation, measured by the quality of ideas proposed in a formal suggestion system. Network degree is associated with higher quality ideas. Bridging across structural holes...
Inspired by the Silicon Valley Bank run and building on Diamond-Dybvig (1993), we develop a model in which asset price fluctuations can trigger bank runs. Liquidation amounts to selling assets at their market price. Depositors can buy and hold the...
We study the welfare effects of marginal and larger sales tax reforms in the U.S. Using a panel of sales taxes, we find that demand is relatively inelastic and that consumers bear the full incidence of the tax changes. We...
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.
