Experience Stern | News & Events

Excerpt from NBC News -- “'It took three and a half years, from August of 1929 to March of 1933, to go from robust full employment to the depths of the Great Depression. It looks like we’re going to get there in less than three and a half months,' said Lawrence White, an economics professor at New York University. 'The speed of the descent is unprecedented.'”

Excerpt from Sarasota Herald Tribune -- "Malls 'can do things that are charity related, cause related — like helping first responders, helping health care workers, providing free meals to health care workers and things like that,' said Allen Adamson, co-founder of marketing consulting firm Metaforce and adjunct professor at New York University’s Stern School of Business. 'It’s going to be closer to charity events than entertainment events. Before, it was indoor ski rinks and roller-coasters. Now they need to pivot and do events that can help people.'”

Excerpt from China Daily Asia -- "Some commentators believe the compound effect of this could result in the 2020s becoming a repeat of the Great Depression in the 1930s. Michael Spence, professor of economics at New York University’s Stern School of Business and a Nobel Prize winner for economics, said this is not inconceivable. 'There would have to be a lot of mistakes made to get there. The main risk is the poorer developing countries. They are highly vulnerable, both medically and economically,' he said."

Excerpt from Inventiva -- "'Crisis can be sort of a catalyst or can speed up changes that are on the way — it almost can serve as an accelerant,' said Arun Sundararajan, an NYU Stern School of Business professor researching how digital technologies transform society. This is the time of distress. People are losing their jobs; some are being denied their salaries and some have been laid off."

Excerpt from The New York Times -- "Over the past decades, a tide of 'safetyism' has crept over American society. As Greg Lukianoff and Jonathan Haidt put it in their book “The Coddling of the American Mind,” this is the mentality that whatever doesn’t kill you makes you weaker. The goal is to eliminate any stress or hardship a child might encounter, so he or she won’t be wounded by it."

Excerpt from Deal Street Asia -- "'Worldwide, the travel and hospitality industry has been devastated, and this is not a short-term thing; it’s going to take a long time for the industry to recover,' said Anindya Ghose, who teaches business at New York University’s (NYU) Stern School of Business. 'Oyo is not a four-star, five-star chain or even a three-star chain. They are in budget space and their clientele is very different (than premium hotels’), and the income of this demographic, because of job losses, furloughs, etc will be hit very hard by the crisis. All this tells me that things are going to be dire for a long time for Oyo and other companies like Oyo.'"

Excerpt from This is Glamorous -- "According to Thomai Serdari, a professor of luxury marketing and branding at New York University's Stern School of Business, 'I think that a lot of people are going to realize that they don't need as much — we have missed an entire month already that we're never going to get back. And people are pressured financially because they're losing their jobs and preparing for a recession.'"

Excerpt from MarketWatch -- “'Let’s not have capitalism on the way up and then when we hit a crisis we have the worst type of socialism, we have cronyism,' Galloway said, pointing out that, going forward, companies using most of their bailout money for stock buybacks should be allowed to fail.

Excerpt from The New York Times -- “'The comparison of real prices today versus reference prices that consumers have in their memories — ones they may even be unaware that they hold — is leading to this kind of purchase behavior,' said Priya Raghubir, a New York University Stern School of Business professor who studies consumer psychology and spending."

Excerpt from Splash -- "The Z score formula for predicting bankruptcy was first published in 1968 by Edward Altman, who was, at the time, an assistant professor of finance at New York University. The formula can be used to predict the probability that a firm will go into bankruptcy within two years."

Excerpt from FindMBA -- "NYU Stern School of Business runs a top-rated part-time MBA program in New York City. The location is a major advantage for students, since it’s a global mecca for business and culture, from finance to fashion."

Excerpt from GreenBiz -- "Furthermore, in terms of market share, we’re talking about a small part of the overall consumer goods market. The NYU Stern research found only 16 percent of CPG goods are marketed as sustainable. (And of course, we might be skeptical as sustainability nerds about what percentage of those goods we’d consider truly 'sustainable.')"

Excerpt from The International Economy -- "No one knows how the global financial system will evolve over the next decade, but we can look to the past as a guide to what the broad contours are likely to be. First, the dollar-based system arose in the aftermath of World War I largely because of the trust established when the United States remained on the gold standard while others, especially the British, did not."

Excerpt from Wealth Professional -- [W]e’ve done much less [to regulate players] outside the banking system,' said New York University finance professor Richard Berner, who was also the former head of the US Treasury’s Office of Financial Research. 'And that unlevel playing field tends to get regulatory arbitrage, with some activities simply migrating to less regulated entities.'"

Excerpt from Moneyweb -- "Nouriel Roubini, professor of economics at New York University, argues that the ensuing contraction might not be a V- or U- or L-shaped but I-shaped (a vertical line representing a sharp and drastic decline of financial markets and the real economy)."

Excerpt from WIRED -- "In 1993, aged 22, he finished a prizewinning PhD on wealth distribution and immediately became an assistant professor in MIT’s revered economics department. 'He always did everything two years before everyone else and twice as quickly,' says his friend Thomas Philippon, a French economist who followed him to MIT and is now a professor at New York University."

Excerpt from Quartz -- "As the coronavirus pandemic ripples around the world, it’s affecting all of us. But it’s having the most devastating impact on people invisible to many who are reading this: low-wage laborers who support large swathes of the global consumer economy."

Excerpt from The New York Times -- "The dining room is set up as a work space for my husband on one end, while I edit YouTube ballet classes and interviews on my computer at the other — in between parenting, staying in shape, and doing Zoom classes and homework (I’m studying for an M.B.A. at New York University). With a baby, we are held to a certain schedule: My husband gets priority to work on weekdays, and I do most of my work on weekends, or when my daughter naps."

Excerpt from Politico -- "The social media industry has risen to the occasion of the coronavirus pandemic. Facebook, YouTube, and Twitter have weeded out phony cures, banned exploitative advertisements, and steered users to authoritative health information. In two notable instances, Twitter has deleted tweets by Trump ally Rudy Giuliani and Brazilian President Jair Bolsonaro—both for spreading coronavirus misinformation."

Excerpt from The Guardian -- "The spread of Covid-19 can be predicted, in part, through patterns of Facebook friendships, according to a study from researchers at New York University. The researchers looked at the progression of the disease from two early hotspots, in suburban New York, US, and Lodi province in Italy, and found that the spread was strongest in those areas that had significant links to the regions through the social network."

Excerpt from WalletHub -- "Communicate with your customers that you intend to be back in operation as soon as it is feasible. Communicate about other aspects of life that are relevant to the business, maybe provide links to helpful articles."

Excerpt from American Banker -- "As a result, 'there are likely to be deserving businesses that aren't getting money,' Acharya said. 'Attempts have to be made to broaden the program; otherwise you could get a very adverse crowding out.'”

Excerpt from WalletHub -- "There is no question that the SBA loans will help small businesses survive. There is some academic research on the role of SBA during the 2007-08 financial crisis and it suggests that SBA loans help businesses weather economic crises. It's not clear whether the SBA has enough resources to meet all the current needs, however, because no one knows the length or severity of the COVID-19 crisis."

Excerpt from Financial Times -- We’ve done a lot to strengthen banks, and that’s a good thing. But we’ve done much less outside the banking system,' says Richard Berner, a finance professor at New York University and the former head of the US Treasury’s Office of Financial Research, which was set up to monitor systemic risks after 2008. 'And that unlevel playing field tends to get regulatory arbitrage, with some activities simply migrating to less regulated entities.'”

Excerpt from New York Post -- "Paul Barrett, an NYU professor and Director for the Center for Business and Human Rights, believes that tech companies have only one responsibility to serve the public during any crisis: 'To not make a terrible situation even worse.'"