News
The Case for Loosening Closed-Visa Programs
1+ hour, 32+ min ago (376+ words) Creating an easier pathway to permanent residency could help workers and businesses. To fill jobs in sectors experiencing local labor shortages, some countries'including Canada, New Zealand, South Korea, and the United States'offer closed-visa programs that tie foreign workers to a…...
What Adam Smith Didn’t Foresee About Capitalism
3+ week, 5+ hour ago (1370+ words) Market economies have evolved in ways that both confirm and challenge his ideas. One day last spring, I came back to my office from a lunch meeting and found a high-school student camping outside. He was a prospective University of…...
Sticky Discount Rates
10+ mon, 1+ week ago (162+ words) We show that firms' nominal required returns to capital (i.e., their discount rates) are sticky with respect to expected inflation. Such nominally sticky discount rates imply that increases in ... Niels J. Gormsen, Neubauer Family Associate Professor of Finance and Fama Faculty Fellow…...
Should Clean-Energy Research Be Publicly Funded?
3+ week, 6+ day ago (15+ words) Should Clean-Energy Research Be Publicly Funded?The University of Chicago Booth School of Business...
Making Up for Lost Time
1+ mon, 4+ day ago (531+ words) David Muller, MBA "84, has some advice for people preparing to retire: Hit the ground running. He certainly has. Muller retired in January 2025 after a 40-year career as a portfolio manager for firms such as J.P. Morgan, Ashmore Investment Management, and the…...
Polarization Is a Product of Fear
1+ mon, 5+ day ago (1219+ words) An explanation for why we're so divided, and what we can do about it. Americans are more politically divided today than we've ever been. You've probably heard that, not only because it's true, but because it's meaningful in all kinds…...
Why Monetary Policy Doesn’t Stop at the Border
1+ mon, 5+ day ago (410+ words) When inflation affects countries globally, as it did after the COVID-19 pandemic, how should central banks respond? Chicago Booth's Veronica Guerrieri'and her coauthors find that if monetary policymakers don't coordinate with their colleagues in other countries, they could diminish the…...
Building Costs Aren’t to Blame for High Home Prices
5+ mon, 2+ week ago (382+ words) The link between construction costs and real estate prices has weakened in recent decades. Buying a house used to be a rite of passage for middle-class Americans, but in recent decades, would-be homeowners have found themselves priced out of the…...
A ‘Good’ Lie Can Increase Trust
1+ mon, 1+ week ago (488+ words) A Q&A with Chicago Booth's Emma Levine about our complicated relationship with the truth. I stumbled into it after an interesting family experience." My first year of graduate school, I was planning for my wedding, and my mother was…...
Want Women Leaders? Money Talks
6+ mon, 3+ week ago (218+ words) Research finds that sharing information about incentives had an effect. In response to this persistent underrepresentation, some companies have implemented diversity incentives that financially reward managers and executives who help female employees rise up the ranks. For example, both McDonald's…...