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  • – Faculty News

    Prof. Mervyn King discusses Europe's economy

    November 20, 2014
    bloomberg logo feature
    Excerpt from Bloomberg -- "'The euro area is the biggest risk because I don’t think the leaders in the euro area actually have a true vision of how to cope with the problem,' King said in an interview yesterday with Bloomberg Television’s Olivia Sterns in Naples, Florida. 'Many are trying to put in place structural reforms, but that is not going to be sufficient to generate a recovery. They also need to have macroeconomic stimulus.'"
  • financial times logo feature
    Excerpt from Financial Times -- "It’s also worth noting that some tax-minimisation strategies do not seem to require any cross-border chicanery. According to data compiled by NYU Stern’s Aswath Damodaran, the sectors that pay the lowest effective tax rates in the US include broadcasters, coal companies, homebuilders, and telecoms operators — all businesses that make the bulk of their money from domestic operations."
  • bloomberg logo feature
    Excerpt from Bloomberg -- "The CHART OF THE DAY compares Twitter’s stock price since going public last November with his estimate of the company’s value, $20.81 a share. Damodaran, the author of four books on business valuation, cited the figure in a posting on his blog two days ago."
  • star tribune logo feature
    Excerpt from Star Tribune -- "Ghemawat echoes the common sense policy ideas of the Brookings Institution and others, suggesting that our business and government leaders work together to raise the international profile of the Twin Cities region and look to develop trade ties anywhere they can be found."
  • bloomberg businessweek logo feature
    Excerpt from Bloomberg Businessweek -- "Scott Galloway, founder of Red Envelope and a marketing professor at New York University’s Stern School of Business, said people generally aren’t in a shopping mood when clicking through a friend’s photos or reading Tweets (TWTR). 'So far, social and commerce are strange bedfellows,' he explained. That said, engagement rates on Instagram are 15 to 25 times higher than those on Facebook and Twitter, which makes the space particularly valuable for any company looking to make a connection."
  • new york magazine
    Excerpt from New York Magazine -- "The years before beginning a brand-new decade — ages 29, 39, and so on — tend to be spent in self-reflection, according to a new paper published online today in Proceedings of the National Academy of Sciences. These are the prime What am I doing with my life? years, in other words, which prompts many people to behave in ways that suggest 'an ongoing or failed search for meaning,' the authors write. Their data suggests that these are the ages when people are more likely to either train harder for a marathon or run one for the first time; they’re also the ages when more people tend to cheat on their marriages or take their own lives."
  • project syndicate logo feature
    Excerpt from Project Syndicate -- "China does not have to give up the safety net provided by large asset holdings to allow markets to play a decisive microeconomic role. It can abandon the commanding heights model and develop its version of 'state capitalism' to support the best of both worlds. All that is needed is a persistently strong government commitment to the public interest – and, of course, a skillfully executed reform strategy."
  • chronicle of higher education logo feature
    Excerpt from The Chronicle of Higher Education -- "Universities need to move from the defensive, fending off divestment campaigns, to a more affirmative approach, examining how they can maximize their investments in companies that adopt longer-term business models that embrace sustainable environmental and human-rights business practices. Simply by making clear that these issues matter to them, universities can stimulate a broader debate within the investment community and in society generally."
  • marketplace radio logo feature
    Excerpt from Marketplace -- "'Teaser marketing' has become the norm, Lieberman says. Those teases, trailers, viral marketing, piecemeal cast and crew announcements are coming earlier, thanks to the web and the crowded comic book movie market. 'They’re saying, "Look, don’t worry, don’t start shifting allegiances, because we’re coming with these movies every year for the next five-year period,"' Craig says."
  • cnbc logo feature
    Excerpt from CNBC -- "Our 2014 DHL Global Connectedness Index shows that globalization is recovering from the hard hit it took during the financial crisis. However, international trade, capital, information, and people flows are not simply reverting to how they looked before 2008. The world is more international, but not necessarily more global, and trends vary across types of flows."
  • financial times logo feature
    Excerpt from Financial Times -- "The law school also has a partnership with the university’s Stern School of Business as reflected in the recent joint appointment of Mervyn King, the former Bank of England governor. As professor of economics and law, Lord King is teaching a course called Money and Modern Capitalism: Law and Business, which includes looking at reform proposals for banks."
  • cnbc logo feature
    Excerpt from CNBC -- "This new type of factor, which is very different from indices such as the Michigan consumer sentiment index, may well join the ranks of key determinants of investment performance, alongside traditional factors such as value and momentum that have been used for decades on Wall Street."
  • fortune logo feature
    Excerpt from Fortune -- "'There is no other book on practical data science for business applications that simultaneously has as much authority and as much clarity,' says Sinan Aral, a management -professor at MIT’s Sloan. 'Students cannot stop raving about this book.'"
  • quartz logo
    Excerpt from Quartz -- "But, since 2005, emerging market exports of printed matter to advanced economies have grown significantly, from less than 10% to almost 20% of global volume. Why is this? Business professor Pankaj Ghemawat, who co-authored the study of global connectedness that returned this surprising result, says it’s tied up in human migration—and entertainment. Ghemawat says he himself is a part of this statistic because, like many other Indians living and working abroad, he subscribes to Bollywood film magazines. The story is not so different for other emerging markets with plenty of emigrants and a thriving culture that expatriates want to stay connected with."
  • – Faculty News

    Prof. Norman White on statistical models in finance

    November 13, 2014
    garp
    Excerpt from GARP -- "Similarly, Norman White, clinical professor of information, operations and management sciences at New York University's Stern School of Business and faculty director of the Stern Center for Research Computing, says there is always concern when there is not 'some human in the middle of the decision tree.' He adds, 'I am very suspicious of the unintended consequences of over-reliance on automated models" in finance.'"
  • quartz logo
    Excerpt from Quartz -- "As the war dragged on, Britain went from lender to borrower. And after the dollar-denominated Anglo-French loan of October 1915—organized by JP Morgan to fund the allied European powers—'the US dollar no longer took a backseat to the British pound,' wrote William Silber, an NYU professor and author of a book on the origins of the dollar as a reserve currency."
  • global finance magazine logo feature
    Excerpt from Global Finance Magazine -- "In the years to come, NYU’s White predicts, this legislation will open up new opportunities for 'independent advisory voices' to sell their opinions to banking regulators. But they won’t necessarily be rating agencies, he says. They’re more likely to be financial services firms and academic institutions."
  • economist logo feature
    Excerpt from The Economist -- "Globalisation’s advance has never been inevitable or smooth; nor, despite some backward steps since the crash, has it ended. That, at least, is the conclusion of the latest DHL Global Connectedness Index, published earlier this month. Two economists, Pankaj Ghemawat of New York University’s Stern School and Steven Altman of IESE Business School compiled it using data from 140 countries, which account for 99% of the world’s GDP and 95% of its population. It shows that, after a big post-crisis drop, the trend of growing global interconnection resumed last year. Globalisation is back."
  • economic times logo feature
    Excerpt from Economic Times -- "'The density footprint in Delhi or Bangalore is not even comparable to its fleet in say New York city. There is plenty of room for Uber to expand,' said Arun Sundararajan, a professor at the Stern School of Business in New York whose research is focused on digital economics."
  • The Wall Street Journal
    Excerpt from The Wall Street Journal -- "'Remember that NIH has to pay attention to what the appropriators in Congress want, because they’re dependent on getting funding,' says Hegde. 'So our conclusion about soft earmarks is a more nuanced finding, but does indicate that soft earmarks are effective. And for the most part, I don’t think people are aware of the mechanisms through which allocations are made.'"
  • OZY logo
    Excerpt from OZY -- "'The trick is going to be to make sure you have the right people representing your products,' says Arun Sundararajan, professor of information, operations and management sciences at NYU Stern. 'With social media, companies have already faced the challenge of losing control over the message.'"
  • financial times logo feature
    Excerpt from Financial Times -- "'While there are benefits to OTC trading, typically trading happens through a handful of large institutions who dominate those markets,' says Rosa Abrantes-Metz, an adjunct professor at New York University. 'When you have that happen with a lack of information coming out to the ultimate buyers and sellers, there is the potential of abuse.'"
  • – Faculty News

    Dean Peter Henry's book, "Turnaround," is highlighted

    November 12, 2014
    global times logo
    Excerpt from Global Times -- "China's success lies in its devotion to a win-win philosophy. Peter Henry wrote in his new book 'Turnaround: Third World Lessons for First World Growth', that America should learn from China's sustained commitment to a pragmatic growth strategy."
  • washington post logo feature
    Excerpt from The Washington Post -- "Five years ago, G-20 leaders pledged to cut fossil-fuel subsidies. They now must redeem that pledge. Setting a timetable for phasing out all subsidies for fossil-fuel exploration would be smart economics. It would also establish the G-20 as a credible force in international efforts to secure an ambitious global deal on climate change."
  • voxeu logo feature
    Excerpt from Vox -- "Given the scale of the crisis, understanding the dynamics of the Eurozone is a major challenge for macroeconomics today. We argue that we need a quantitative framework to identify these various mechanisms, their relations and, ultimately, to run counterfactual experiments. This is what we do in a recent paper (Martin and Philippon 2014)."

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