Experience Stern | News & Events

Excerpt from The Guardian -- "Latin America has 31% of the world’s fresh water, the largest of any region. Since fresh water appeared to be plentiful, up until recently governments hadn’t focused on freshwater conservation or investment in water infrastructure, and communities weren’t educated about how to protect their water supply, says Tensie Whelan, director of New York University’s Center for Sustainable Business."

Excerpt from the Economic Times -- "To be quite honest, 2% to 2.5% is the long term growth and I do not see growth in the US economy going to 6% or 7%. It is not that kind of economy. 3.5% is really a good year and 1% is a bad year and 2.5% is the middle. That is why when I said earlier that Asia has got to provide that extra growth, the US economy is not capable of providing 6%, 7%, 8% growth. It is a mature economy. So 2.5% might become 3% or 3.25% but I do not see it jumping going forward even if good things happen."

Excerpt from LinkedIn -- "[Sundararajan's] excellent analysis is appropriately sceptical at times about whether there is anything virtuous about this sort of 'sharing', and sets out with great clarity why regulators need to keep a close eye on what is going on and why the potential implications for workers may require new policies and institutions to manage the insecurities of eking out a living in the 'gig economy' of Uber World."

Excerpt from Seeking Alpha -- "German Gutierrez Gallardo and Thomas Philippon, in their paper "Investment-Less Growth: An Empirical Investigation" published this month by NBER do exactly that. The authors 'analyze private fixed investment in the U.S. over the past 30 years.' First, the authors establish that indeed, 'investment is weak relative to measures of [firm] profitability and valuation - particularly Tobin's Q, and that this weakness starts in the early 2000s.' In other words, whilst firms remain profitable, they simply do not reinvest their profits at the same rate today as in the 1990s."

Excerpt from The New York Times -- "As David Yermack, a professor of finance at New York University, noted, Michelle was also a bonanza, generating $2.7 billion in a single year for the companies she showcased."

Excerpt from the Financial Times -- "In areas roughly related to my work, I was really interested in Robert Gordon’s The Rise and Fall of American Growth. I hadn’t really seen the bits of this story pulled together in a narrative arc before. It ends with speculation, which has attracted criticism, but this book is an important antidote to some of the naive optimism about technology. When it talks about what happens to jobs in the age of automation, it also lays out the agenda for what happens next."

Excerpt from The Atlantic -- "In Jonathan Haidt’s book The Righteous Mind: Why Good People Are Divided by Politics and Religion, he explained that within the United States, members of the educated upper-middle class are outliers when it comes to their intuitions about morality, and that there is more to morality as many practice it than concerns about harm and fairness. Later, while sketching alternative foundations of moral concern, he writes about sanctity and degradation, and the human relationship to disgust."

Excerpt from Bloomberg View -- "Many people have criticized macroeconomics over the years, especially since the financial crisis. But perhaps none have done so as forcefully as Paul Romer, the new chief economist of the World Bank. Romer takes his fellow macroeconomists to task for failing to reconcile their theories with reality, and accuses them of acting more like a religion than a science."

Excerpt from Bloomberg -- "The Bank of Japan used to have a very poor policy arrangement. They did not aim at keeping prices stable. They encouraged the sustained deflation. But today's Bank of Japan is the most aggressive monetary policymaker on the planet. They've been doing more than virtually any other central bank to restore inflation expectations of about 2%. The problem for them is that it hasn't worked well."

Excerpt from MIT Sloan Management Review -- "'Once everyone was speaking the same language vis-à-vis skills,' says Horton, 'we could build a bunch of new features without having to do lots of machine learning to figure out what people were talking about. This kicked off a more general attempt in the company, named "Project Babel" to find important unstructured data and then structure it.'"

Excerpt from The New York Times -- "'I think he would be controversial — former Treasury secretaries have been top bankers and businessmen or lawyers and they were well-recognized top leaders in their professions,' said Prof. Richard Sylla at the Stern School of Business of New York University, whose research focuses on financial history and economics. 'But Mnuchin wasn’t that famous as a Goldman Sachs guy, and probably not even as a hedge fund guy, so why is he there? Well, he took the job of raising money for Trump.'"

Excerpt from Inc. -- "'Small businesses are disproportionately vulnerable to these events,' says Ari Ginsberg, professor of entrepreneurship and management at New York University's Stern School of Business. He notes that small businesses are plentiful, but that diversity can make corralling their economic might tough. 'Larger corporations have ways of muffling these events but small businesses don't.'"

Excerpt from Bloomberg -- "'I don’t think anyone has any idea what to expect,' said David Yermack, a professor at New York University’s Stern School of Business. 'Companies have to make educated guesses about what may happen when, but there’s a huge amount of uncertainty.'"

Excerpt from US News & World Report -- "'Having a specialization will not get you the job, but it certainly will make it a lot easier to get the interview. It opens the door and that's the reason why students are so fond of specializations,' says Raghu Sundaram, vice dean of MBA programs at New York University's Stern School of Business."

Excerpt from the Financial Times -- "Mr Romer portrays modern macroeconomics as a racket held together by people who protect their influence. ... Mr Romer claims that the state of macroeconomics is worse. It has regressed. His observations are disturbing in their own right. But what makes them relevant in the context of this discussion is that our economic policy institutions are premised on the idea that these theories are correct. Our independent central bankers are macroeconomists, who were trained in those very models that Mr Romer criticises."

Excerpt from Expansión -- "[Van Nieuwerburgh's] studies about how the real estate market is capable of transmitting shocks to the rest of the economy and financial assets have won him many accolades. Now, the reputed academic focuses his efforts on the proposal of the creation of a risk-free European asset which, in his view, would allow Europe to prevent crises."

Excerpt from Bloomberg -- "I think the most likely one is they extract their pound of flesh and they reduce the price. The other option is to walk from the deal. I think the stock would pop and it would show some discipline on behalf of Verizon management if they walked right now. The other thing is to try and create some sort of legal entity where they would put AOL and Yahoo into that distinct entity to try and, if you will, create a firewall around what might be an unbelievable amount of liability."

Excerpt from The Guardian -- "Experts note that Uber has an obvious financial interest in a system with minimal regulations. By ignoring California regulators, the corporation is attempting to preemptively create a framework in which self-driving cars are treated similarly to traditional vehicles, said Arun Sundararajan, a New York University business professor and expert on the sharing economy. 'The act of asking for permission is sort of a tacit admission that this needs to be regulated,' he said. 'They are playing a long game here … They’re trying to define what the regulatory space is going to look like.'"

Excerpt from The New York Times -- "Arun Sundararajan, author of the new book 'The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism,' said he chose that term for his title because so many people use it. Yet Mr. Sundararajan, a professor at New York University’s Stern School of Business, actually prefers 'crowd-based capitalism,' because a crowd of consumers obtains services by connecting, via a platform, with a crowd of suppliers."

Excerpt from Mundo Empresarial -- "...in their effort to conquer distant lands, companies from developed countries often run into more problems than profits. Awakening to this reality, we are now beginning to observe an exodus from emerging markets."

Excerpt from the Harvard Business Review -- "Jonathan Haidt, Professor of Business Ethics at NYU and founder of Ethical Systems, says, 'It’s important to talk about the positive examples of ethical behavior, not just the bad ones. Focusing on the positive reasons you are in business, and reinforcing the good things people do strengthens ethical choices as ‘the norm’ of the organization.' ... Elizabeth Morrison of New York University, in Encouraging a Speak Up Culture, says 'You have to confront the two fundamental challenges preventing employees from speaking up. The first is the natural feeling of futility — feeling like speaking up isn’t worth the effort or that no one wants to hear it. The second is the natural fear that speaking up will lead to retribution or harsh reactions.'"

Excerpt from The New York Times -- "Opponents of the Affordable Care Act have denounced it bitterly for more than six years, so it is not surprising that, despite the program’s successes, public opinion about it would be divided. Even so, a repeal would unleash the awesome power of loss aversion, among the more deeply rooted human tendencies known to behavioral scientists. Their consistent finding: The amount of effort people will expend to resist being stripped of something they already possess is significantly larger than the effort they will devote to acquiring something they don’t already have.

Excerpt from Triblive.com -- "Here's another way to learn about the 10-dollar founding father without a father: This gorgeous illustrated biography, written by noted Alexander Hamilton scholar Richard Sylla (who's also the chairman of the Museum of American Finance)."

Excerpt from Accepted.com -- "We value IQ and EQ – both intelligence and leadership. Our approach to academics is distinctive: it’s a mixed approach (not just lecture based or case-based, but a mix of approaches). We provide a range of opportunities; our courses are taught by a range of faculty (from Nobel Prize winners to practitioners who teach part time). There’s a lot of flexibility in the program – you can pursue between up to three specializations (or no specialization). And you can take classes overseas, or at other NYU grad schools."

Excerpt from Green Sense Radio -- "We found that there's a variety of different drivers for positive financial performance when you embed sustainability. So operational efficiencies where you reduce energy costs and water costs are a big part of it. But also, you can proactively drive innovation and come up with new processes and new products that can actually create competitive advantage and bring in new sources of funding."