Experience Stern | News & Events

Excerpt from Benzinga.com -- "Before you fire off a hot email defending the wonderfulness of "free" trade (there is no "free" trade, there are only trade policies with implicit incentives), please read Globalization and Unemployment The impact of globalization on income and employment by Nobel laureate Michael Spence."  Additional coverage appeared on Of Two Minds.

Excerpt from The Jerusalem Post -- "A related, more subtle possibility, analyzed in detail in a famous paper by economist Michael Spence decades ago, is that college is a way of proving to employers how smart and capable you are."

Excerpt from MoneyShow.com -- "Bernstein pointed out that “the S&P has been outperforming BRICs for the last three and a half years,” although the broader emerging-markets index is slightly ahead of the S&P for that period."  Additional coverage appeared on Seeking Alpha.

Excerpt from CNBC -- "I think investors got caught up in Washington's political rhetoric. They just decided the rules of economics don't apply anymore. You may not have liked how the government was spending money, but it was still spending and that's still stimulus," said Richard Bernstein.  Additional coverage appeared in The Wall Street Journal.

Excerpt from The Globe and Mail -- "The Stanford economist Paul Romer -- whose seminal work on the economics of technical change inspired what came to be known as endogenous growth theory -- says that when he came to economics from physics, he was puzzled by what economists called 'production'."

Excerpt from TheAge.com -- "[Michael Spence's] key insight about China is striking - that the sudden burst of growth that has revolutionised global economics and politics was the result of a conscious decision made by just a handful of people."  Additional coverage appeared on NineMSN.com.

Excerpt from The Sydney Morning Herald -- ''China is starting to internalise these things,'' Professor Spence said. "They are coming to realise that they will soon be big enough economically to put pressure on the entire globe's environment."

Excerpt from Bloomberg -- "Martin Feldstein, an economics professor at Harvard University, Bill Gross, portfolio manager at Pacific Investment Management Co., Lawrence White, economics professor at New York University's Stern School of Business, Hugh Johnson, chairman of Hugh Johnson Advisors LLC, and Barton Biggs, managing partner and co-founder of Traxis Partners LP, talk about the risk of another U.S. recession."

Excerpt from Sydney Morning Herald -- "'How long have they got? How much longer can China's extraordinary explosion of economic growth continue,' I ask Michael Spence down a phone line to Italy, where he lives six months of the year. 'I think the answer is something like two decades, in the later part of that they will start to slow down,' he says."

Excerpt from The Wall Street Journal -- "Paul Romer, a New York University economist who has spent his career thinking about economic growth, calls this time the "Great Distress," a period of pain that he predicts will last five or even 10 years."  Additional coverage appeared in The Atlantic.

Excerpt from Forbes -- "Today, on the heels of currency market intervention by Japan and Switzerland, Roubini predicted that a third round of quantitative easing here in the United States, tweeting, “QE3 started in Japan & Switzerland via fx action &/or monetary easing. Fed will eventually get to QE3 but it will be too little too late.”

Excerpt from FINS Finance -- "Batia Wiesenfeld, a management professor at New York University's Stern School of Business, said banks and brokerages tend to let months pass between when they announce layoffs and when they cut workers, a tedious period that cultivates brain-drain."  Additional coverage appeared on Glassdoor.com.

Excerpt from GlobalResearch.ca -- "[President Obama] was in a position to change the terms of the policy discussion by appointing advisors with a Keynesian background. Economists like Joseph Stiglitz, Paul Krugman, Nouriel Roubini and James K. Galbraith were willing to take on this responsibility."

Excerpt from a Financial Times blog -- "Many economists believe that UK gilt rates have not only fallen because of Britain’s economic relative credibility compared to certain eurozone nations and the USA. (Nouriel Roubini has dubbed it 'a beauty contest about the least ugly')."  Additional coverage appeared in The Independent.

Excerpt from BVWire News -- "The US will not default next week or in the near future, even if there is no debt ceiling legislation passed by August 2. However, the damage has already have been done."

Excerpt from Education Letter -- "More than 6,500 businesses worldwide have accelerated their business performance with Socialtext, including Egon Zehnder, Getty Images, Symantec, Meredith Corporation, NYU Stern, OSIsoft, and Epitaph Records."

Excerpt from Deadline.com -- "The idea, according to Poltrack, is to move away from the simple but perhaps outdated demographic analysis that divides TV watchers by age and sex. Instead, Poltrack offered six “demand profit pool personas” that might serve as valuable targets for marketers."  Additional coverage appeared on Variety, a Variety.com blog, FilmSchoolRejects.com and Mediapost.com.

Excerpt from The Wall Street Journal -- "The Mayor's Fund's federal tax return shows it operates out of city offices under a contract and supports various city programs, including those aimed at poverty and planting trees. Its board members include bold-face names and philanthropists such as Kenneth Langone, former chairman of the New York Stock Exchange."

Excerpt from Bloomberg -- "Sean Egan, president of Egan-Jones Ratings Co., Lawrence White, economics professor at New York University's Stern School of Business, and Bloomberg News reporter David Lynch talk about the U.S. debt-limit compromise signed into law today and the outlook for Treasuries and the economy. They speak with Pimm Fox on Bloomberg Television's 'Taking Stock.'"  Additional coverage appeared on Bloomberg TV and Seeking Alpha.

Excerpt from Motley Fool - "Study after study has shown that stocks with low price-to-earnings multiples significantly outperform high P/E stocks. Research from my favorite investing guru, NYU professor Aswath Damodaran, pegged the outperformance at anywhere from 9% to 12% per year, depending on the study period."

Excerpt from Reuters -- "Economist Lawrence J White, who teaches at New York University's Stern School of Business, and three Stern colleagues – Viral Acharya, Matthew Richardson and Stijn Van Nieuwerburgh – said in a recently published book, Guaranteed to fail: Fannie Mae, Freddie Mac and the debacle of mortgage finance, that a new approach is needed to revitalize housing finance."

Excerpt from TheStreet.com -- "The evidence shows that, done the right way, corporate contributions can indeed be good for both the company performance and society," says Baruch Lev, director of the Vincent C. Ross Institute of Accounting Research and the Philip Bardes Professor of Accounting and Finance at the NYU Stern School of Business.  Additional coverage appeared on DigitalJournal.com, KCTV5.com, The Sacramento Bee and ABC12.com.

Excerpt from Reuters -- "I doubt that it's likely to happen," said Kenneth C. Froewiss, a finance professor at New York University's Stern School of Business. "Probably more a case of investor wariness."  Additional coverage appeared on Opalesque.

Excerpt from CNBC -- "CNBC Contributor and former Merrill Lynch chief investment strategist Richard Bernstein of Richard Bernstein Advisors tells us a buying opportunity may be just around the corner."  Additional coverage appeared on TheStreet.com and optionMONSTER.

Excerpt from MarketWatch -- “Even with substantial appreciation of the Chinese currency, the power of Chinese manufacturing is not going to go away. China’s ability to export to the rest of the world has been built up to an enormous position of strength, which is not disappearing,”