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The Global Economy’s New Rule-Maker - By A. Michael Spence
In a recent commentary for the South China Morning Post, Helen Wong, HSBC’s chief executive for Greater China, shows that China’s rising generation of 400 million young consumers will soon account for more than half of the country’s domestic consumption. This generation, Wong notes, is largely transacting online, through innovative, integrated mobile platforms, indicating that it has already “leapt from the preweb era straight to the mobile Internet, skipping the personal computer altogether.”
—- Biography: Professor A. Michael Spence
- Department: Economics
— Opinion
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The financial crisis, ten years on - By Kim Schoenholtz
In his memorable review of 21 books about the 2007-09 financial crisis, Andrew Lo (2012) evoked Kurosawa’s classic film, Rashomon, to characterise the remarkable differences between these crisis accounts. Not only were the interpretations in dispute, but the facts were as well: “Even its starting date is unclear. Should we mark its beginning at the crest of the US housing bubble in mid-2006, or with the liquidity crunch in the shadow banking system in late 2007, or with the bankruptcy filing of Lehman Brothers and the ‘breaking of the buck’ by the Reserve Primary Fund in September 2008?” (Lo 2012)
—- Biography: Professor Kim Schoenholtz
- Department: Economics
— Opinion
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Trump Breaks a Taboo—and Pays the Price - By Jonathan Haidt
Taboo and sacredness are among the most important words needed to understand Charlottesville and its aftermath. Taboo refers to things that are forbidden for religious or supernatural reasons. All traditional societies have such prohibitions—things you must not do, touch, or eat, not because they are bad for you directly, but because doing so is an abomination, which may bring divine retribution. But every society also makes some things sacred, rallying around a few deeply revered values, people, or places, which bind all members together and make them willing to sacrifice for the common good. The past week brought violent conflict over symbols and values held sacred—and saw President Trump commit an act of sacrilege by violating one of our society’s strongest taboos.
—- Biography: Professor Jonathan Haidt
- Department: Business & Society Program
— Opinion
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The Urban Answer to Climate Change - By Tensie Whelan & Marianna Koval
It may well be in our future. A definitive government report on climate science makes clear that the frequency and intensity of precipitation in the northeast (already the highest in the nation, with a 17% increase in the last 25 years) will only grow dramatically in years to come.
—- Biography: Professor Tensie Whelan & Senior Research Scolar Marianna Koval
- Department: Center for Sustainable Business
— Opinion
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The Dual Role of China’s Stock Market - By Jennifer Carpenter & Rob Whitelaw
China is at a pivotal point for its future economic growth as the country attempts to transition from a state-controlled, investment-driven economy to one that is more market-oriented and consumption-driven. It is also at a critical point in its path to integration in global financial markets, as highlighted by the debate over the potential inclusion of China A shares in MSCI indices.
—- Biography: Professors Jennifer Carpenter and Robert Whitelaw
- Department: Finance
— Opinion
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Twitter and the Corporate Spin Zone - By Michael Jung
Corporate public relations professionals in the present era of social media have a challenging job, because the strategic use of tweets and other social tools remains a largely uncharted frontier. New research from NYU Stern Accounting Professor Michael Jung and co-authors delves into how companies use social media to disseminate both positive and negative financial information and what, if any, benefits accrue.
—- Biography: Professor Michael Jung
- Department: Accounting
— Research Highlights
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Catalyzing Green Infrastructure on Private Property - By Stern Center for Sustainable Business
A new report, co-authored by the NYU Stern Center for Sustainable Business and the Natural Resources Defense Council, proposes an innovative grant program to help protect New York City’s waterways through green infrastructure
—- Department: Center for Sustainable Business
— Research Highlights
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Professors Jason Greenberg, Gino Cattani and Joseph Porac Receive National Science Foundation Grant
The National Science Foundation (NSF) has awarded NYU Stern Professors Jason Greenberg, Gino Cattani and Joseph Porac a $294,291 grant to support their research on competition and entrepreneurial performance in the New York City restaurant industry.
—- Biography: Jason Greenberg, Gino Cattani and Joseph Porac
- Department: Management & Organizations
— Research Highlights
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A Dim Outlook for Trumponomics - By Nouriel Roubini
Now that US President Donald Trump has been in office for six months, we can more confidently assess the prospects for the US economy and economic policymaking under his administration. And, like Trump’s presidency more generally, paradoxes abound.
—- Biography: Professor Nouriel Roubini
- Department: Economics
— Opinion
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Faculty Awards & Accolades – August/September 2017
Faculty Awards and Accolades highlighted in the August/September 2017 issue of Stern's Faculty Research Brief.
—— Research Highlights
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Explaining Global Recovery Amid Political Recession - By A. Michael Spence
In the summer, as life slows down, there is space to reflect on fundamental issues. One of the key puzzles occupying my mind of late is the disconnect between widespread political dysfunction and relatively strong economic and financial-market performance.
—- Biography: Professor A. Michael Spence
- Department: Economics
— Opinion
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Combining a Free Market and Single-Payer System Will Provide More Options - By Joshua Ronen
With the Better Care Reconciliation Act and repeal-only plan now dead on arrival in the Senate, Republicans will need to work together with Democrats to develop a new plan for America’s healthcare system. But, given the tenor of recent conversations between the parties, the next bill presented will need to make significant concessions to satisfy both sides of the table.
—- Biography: Professor Joshua Ronen
- Department: Accounting
— Opinion
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Greek bond issue, success or impasse - By Nicholas Economides
After a 3-year hiatus, Greece issued 5-year bonds last week. Unfortunately, the interest rate it paid was so high that it creates serious concerns for the upcoming impasse rather than being a cause for celebration as the Greek government wants. This bond issue does not create a clear path for Greece to enter the financial markets at the end of the EU help program in 2018. Instead, it shows the impasse that Greece will face in mid-2018.
—- Biography: Professor Nicholas Economides
- Department: Economics
— Opinion
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Professor Adam Alter's joint research on categorizing experiences
Excerpt from Travel + Leisure -- "'Consumers do not just focus on individual experiences. Instead, they categorize and manage experiences... For positive experiences, consumers are reluctant to eliminate categories, while the opposite is true for negative experiences because eliminating categories makes it feel like more of the experience has passed,' write authors Anuj K. Shah (University of Chicago Booth School of Business) and Adam L. Alter (New York University)."
—— Research in the News
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Dating Debunked: Study Reveals that Men and Women Perceive Sexual Intentions Differently - By Priya Raghubir
In a new study, Professor Priya Raghubir, chair of the Marketing Department at NYU Stern School of Business, and former NYU Visiting Postdoctoral Scholar Isabelle Engeler find a gap in how women and men interpret dating situations and intentions, which could lead to problematic misunderstandings between dating partners.
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Biography: Priya Raghubir
Department: Marketing— Research Highlights