Experience Stern | News & Events

Excerpt from the Harvard Business Review -- "Our mobile devices are powerful computers connected to high-speed networks. The digitization of social brings real-world trust and social capital online. We are comfortable with the notion of commercial transactions mediated by computers or smartphones, and we've had over ten years of experience with the idea of semi-anonymous peer-to-peer exchange."

Excerpt from the Financial Times -- "The deal reached in Washington on New Year’s day prevented the US economy from falling off the so-called fiscal cliff. However, given the dysfunctional nature of the American political system, it won’t be long before there is another crisis."

Excerpt from Globe Asia -- "To illustrate just how dangerous the conventional wisdom about the money supply can be, let’s revisit former Fed Chairman Paul Volcker’s highly praised inflation squeeze, which was ably profiled by Prof. William Silber, in his recent book 'Volcker: The Triumph of Persistence' (Bloomsbury: 2012)."

Excerpt from the Washington Post -- "That is the nature of education, to be sure. In their purest form, market concepts of cost-effectiveness don’t neatly apply to what universities do, for reasons well explained by economist William Baumol of New York University’s Stern School of Business."

Excerpt from US News -- "'The Facebook IPO to me was just an example of a tech company pricing their stock too high when they went public,'" says Arun Sundararajan, a professor at NYU's Stern School of Business."

Excerpt from Bloomberg -- "A down grade doesn't mean we're deadbeat, but it does mean the difference between AAA, which is 'extremely unlikely' to default versus, in S&P language, AA+, which means 'highly unlikely.' Well, after what we went through in August of 2011, how can you argue that it's still extremely unlikely? I don't think so. Highly unlikely? Probably."

Excerpt from the Council on Foreign Relations -- "The economic outlook for the United States in 2013 is marginally brighter. The economy is adapting structurally, albeit slowly, to an altered and more sustainable growth pattern."

Excerpt from the Boston Globe -- "People tend to think of morality along one dimension: good versus bad. But recent scholarship by Jonathan Haidt and others has identified that there can be multiple moral values commanding our attention—namely 'harm/care,' 'fairness/reciprocity,' 'in-group/loyalty,' 'authority/respect,' and 'purity/sanctity'—and has shown that liberals are more focused on harm/care while conservatives are more focused on the others."

Excerpt from WIRED -- "Social influence always seemed to flow from the person who makes the choice, to the people who observe it. But digital visibility reverses the direction and creates a new form of anticipatory influence: What we do is now influenced by the peers who observe us."

Excerpt from The New York Times -- "Joel Hasbrouck, a professor at New York University who has advised exchanges and trading firms, said that the size of the new company worried him because it could give the company too much influence with regulators, as has happened when companies have grown large in other corners of the financial markets."

Excerpt from NPR -- "The company still has old-fashioned floor traders buying and selling stocks, but not nearly as many as they used to. And NYU's Roy Smith says they probably will disappear once the merger with ICE takes place."

Excerpt from US News -- "Research by Hal Hershfield, assistant professor of marketing at New York University's Stern School of Business, has found that showing people aged photos of themselves makes them more likely to put money away for later."

Excerpt from China Daily -- "'The new leadership is well informed and seems committed,' said Michael Spence, a Nobel laureate in economics and a professor at the Stern School of Business at New York University."

Excerpt from BBC -- "It's very good news. It shows determination by the European partners of Greece for Greece to stay there."

Excerpt from Forbes -- "Edward Altman, a high-yield investing guru, doesn’t see default rate next year much above 3%.”I think balance sheets today are quite strong,” he says. “I’m still a believer in quality junk."

Excerpt from The Australian -- "Giving a keynote speech at the 25th Australian Institute of Banking and Finance conference in Sydney yesterday, Professor Engle said: 'It's far better to try and raise capital standards in a boom.'"

Excerpt from Financial News -- "So, even though the banks will remain in the woods for a while longer, things are getting better. They will get better still if those banks, which have already taken action to turn things around, inspire the rest to do the same. If they do, Carney, and the rest of the bank regulators of the world, can look forward to a happy new year."

Excerpt from Project Syndicate -- "The tail risks of a Greek exit from the eurozone or a massive loss of market access in Italy and Spain have been reduced for 2013. But the fundamental crisis of the eurozone has not been resolved, and another year of muddling through could revive these risks in a more virulent form in 2014 and beyond."

Excerpt from the Economist -- "In a 2011 paper Rosa Abrantes-Metz of New York University’s Stern School of Business and Sofia Villas-Boas and George Judge of the University of California, Berkeley, examined LIBOR data over rolling six-month windows, and found that LIBOR was far likelier than another benchmark interest rate to depart from Benford patterns."

Excerpt from the Wall Street Journal -- "Finally, a new exposition of the most important economic idea you've never heard of: what its inventor, William Baumol, calls 'The Cost Disease.'"

Excerpt from Bloomberg -- "The european recession is continuing, is spreading to parts of the core like France. Even Germany is slowing down because its two major markets, one is the eurozone is contracting and Asia and China are slowing down."

Excerpt from the Wall Street Journal -- "'Smart firms won't go too far in invading consumer privacy because they realize—especially companies like Google and Facebook —that without the information consumers are giving them, they have no business at all,' says Arun Sundararajan, of New York University's Stern School of Business."

Excerpt from The Globe and Mail -- "William Silber’s biography of Paul Volcker is rightly sympathetic to the man whose determination and integrity conquered U.S. inflation. When needed, he overcame opposition from politicians and academic economists. Yet once his work was done, policy slid back and his abilities were wasted."

Excerpt from Reuters -- "'The emerging markets have emerged, even as the developed markets have submerged,' Roubini told me. 'Politics have become more important for many advanced countries, too.'"

Excerpt from Forbes India -- "Pioneering teachers: Such as Aswath Damodaran of New York University’s Stern School of Business, who has been doing webcasts of his immensely popular courses on valuation and corporate finance for several years."