Experience Stern | News & Events

Excerpt from Business Standard -- "The famous Nobel-winning economist Michael Spence in a recent essay talked of the skew in job creation. He says that 98 per cent of the jobs created in the US between 1990 and 2008 were in the non-tradable sector of the economy — in services such as healthcare and the government."

Excerpt from The Miami Herald -- "New York University’s economist Nouriel Roubini — who won world fame for rightly forecasting the 2008 economic crisis — recently predicted that China’s economy is likely to crash in 2013."  Additional coverage appeared in Interactive Investor, TIME Curious Capitalist blog, Seattle Times, San Francisco Sentinel, Seeking Alpha, Business Day, IMF Direct blog and Business Spectator.

Excerpt from The Malaysia Star -- "Renowned economist and New York University professor Nouriel Roubini twitted over the week: “the Fed will eventually get to QE3 but it will be too little too late”, after Japan and Switzerland's intervention in the currency market to stem the appreciation of their currencies."  Additional coverage appeared on China Daily and Business Insider.

Excerpt from Investment Weekly News -- "This paper matches the countercyclical volatility and procyclical mean of United States. labor income and finds that, consistent with United States data, young, poor agents now hold less stock than both young, rich agents and old agents, and no stock a large fraction of the time," wrote A.W. Lynch and colleagues, New York University.

Excerpt from CNN -- "We're at a stall speed and probably there's more than 50% probability of a recession in the next 12 months."  Additional coverage appeared in The Guardian, National Journal, FirstPost.com, International Business Times, Montreal Gazette, Business Insider, Business Day, CPI Financial, ExpressIndia.com, two Bloomberg pieces, WealthWire.com and Bloomberg Businessweek.

Excerpt from US News & World Report -- "Symonds highlights notable programs such as Trium, the Global Executive M.B.A. program run jointly by New York University Stern School of Business, London School of Economics and Political Science, and HEC School of Management, Paris. The alliance celebrated its 10th anniversary in July by adding a second cohort in 2012." Additional coverage appeared on StacyBlackman.com.

Excerpt from The Huffington Post -- "According to Vijay Vaitheeswaran, a co-author of 'Zoom: The Global Race to Fuel the Car of the Future,' a two-way grid is part of the solution. He said in 2007 interview in BusinessWeek, 'We will see a smart, sophisticated, software-rich car of the future very soon.'"

Excerpt from Marketplace Radio -- "Vasant Dhar of NYU's Stern School of Business says investors shouldn't be worried by computerized trading. In fact, yesterday's sell off may have been exaggerated by people - and muted by computers."

Excerpt from Treasury & Risk -- "As with any developing country, risks remain. David Backus, a professor at New York University’s Stern School of Business, says that unlike neighboring countries, however, Brazil’s political system has remained stable."

Excerpt from WFAE.org -- "NYU Stern finance professor Viral Acharya says Bank of America is now the weakest of the big banks and the most 'systemically risky.'"

Excerpt from Xinhua News -- "You never certain about these things. But there are some smart people whose opinions I respect on this that are saying the likelihood is substantial. So at this point, the odds are about fifty fifty that we could go into another recession because of all these weakness in economy. We can't use monetary policy. We can't use fiscal policy. Maybe exports can help but that takes a while."

Excerpt from Foreign Policy -- "At this point there is serious risk of a double-dip recession in the U.S. and most other advanced economies."

Excerpt from Proactive Investors UK -- "According to Nouriel Roubini, there is 70% chance of Italy seeking aid."

Excerpt from Bloomberg -- "President Barack Obama, former House Speaker Newt Gingrich and Roubini Global Economics LLC co-founder Nouriel Roubini speak about data showing U.S. payrolls rose by 117,000 workers in July. Former Federal Reserve Governor Randall Kroszner, Barclays Capital's Dean Maki, Cumberland Advisors' Robert Eisenbeis, White House economist Dean Maki and Tokyo-Mitsubishi UFJ's Chris Rupkey also comment."  Additional coverage appeared on Bloomberg and The Telegraph.

Excerpt from Reuters -- "There is an extremely elevated degree of anxiety that has dominated recently, both the corporate and the consumer sectors. This tends to aggravate what started initially as a moderate slowdown in economic activity in the spring."  Additional coverage appeared on MSNBC.

Excerpt from Seeking Alpha -- "What does it take to be number one? Two is not a winner. Three no one remembers. Bank of America is number one on the Bank Loser Board. The Loser Board is created by NYU Stern."

Excerpt from CNBC -- "Worries about default spooking investors, sending european shares plummeting to an 11-month low and as tensions grow abroad, recession jitters escalate here at home. The bears are out. Is your money safe?"  Additional coverage appeared on Capital.gr and Bloomberg.

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."