Experience Stern | News & Events

Excerpt from Forbes -- "Systemic risk always lies hidden. Thus, as Nobel prize winner Robert Engle and others point out, 'While the financial crisis started in the summer of 2007, it was not until the early autumn of 2008 that systemic risk fully emerged.'"

Excerpt from TIME blog -- "Nouriel Roubini argued in the 'Financial Times' the other day that debt restructuring is the answer, to alleviate the burden on Italy."

Excerpt from The Boston Globe -- "Aral recently published in the journal "Management Science" the results of an experiment that examined the viral spread of a product through a network of 1.4 million Facebook users, finding that viral features that alert friends that their friends are using a product more than doubled the increase in the adoption of the product by others in the network."

Excerpt from Associated Press -- "I would say this is a big change. Traditionally, the ECB has seen its only objective as maintaining a stable, low rate of inflation." Additional coverage appeared in Tribune-Chronicle.com, The Boston Globe, STLToday.com, Palm Beach Post, Dayton Daily News, Newser.com, Marshall Independent, AJC.com, BND.com, among other outlets.

Excerpt from The Washington Post -- “You have the beginnings of a credit crunch in Europe. ... [Banks] are limiting their dollar activities. French banks have large operations in Italy — and they’re shrinking. Austrian banks have large operations in Eastern Europe — and they’re shrinking.”

Excerpt from The Daily -- "Romer’s charter cities concept involves creating what he calls “reform zones.” The idea is to let a government with a track record of success run parts of a country, on the theory that the key drivers of progress are rational rules and functional institutions." Additional coverage appeared in Reason.com.

Excerpt from The New York Times -- "Museum of American Finance: Volcker Talk (Wednesday) Paul Volcker, who served under five presidents, speaks as part of the Henry Kaufman Lecture/Symposia Series. The presentation will be followed by a reception and question-and-answer session moderated by Dr. Richard Sylla, a New York University professor and the chairman of the museum."

Excerpt from Money Morning -- "Slowly but steadily, consumers are exploring more normal ways of returning to a more normal pattern when it comes to borrowing habits."

Excerpt from Washington Square News -- "The city's economy is so large and so tied to finance and international economic trends that there is so little the city can do at all to move its economy in any direction."

Excerpt from Indo-American News -- “The combination of different instruments and Chandrika’s voice revealed to me what World Music should be all about."

Excerpt from The Guardian -- "Probably the most important work recently was that of Jonathan Haidt (professor of psychology at the University of Virginia) who looked at a moral theory and talked about importance of relationships."

Excerpt from New York Observer -- "Sitting on the board of N.Y.U.’s Stern Business School, hedge funder Peter Schoenfeld knows a thing or two about economics: buy low, sell high."

Excerpt from Euromoney -- "The academics at NYU Stern have proposed a repo clearing house or repo resolution authority that would step in and allow for an orderly liquidation of collateral backing repo contracts should there be a shock to an asset class such as mortgages."

Excerpt from The Huffington post -- "The [labor force's] share dropped to 57.1 percent, according to economist Nouriel Roubini, compared to an average of nearly 65 percent percent before the year 2000."

Eric Varvel, Chief Executive Officer of Credit Suisse's Global Investment Bank, headlined the conference. He shared his unique insights on the status of the world economy in his presentation entitled "Adapting to Change."

Excerpt from TIME -- "In a remarkable new book, "The Darwin Economy," economist Robert Frank explores how these sorts of arms races play out in myriad areas of economic life—and how we could create a more productive economy if we understood their nature and impact."

Excerpt from CNBC Squawk Box -- "The rating has to do with the risk the company will go under. This risk has to do with whether they will go under when the economy tanks."

Excerpt from Reuters -- "It could lead to fire sales of assets, which would have further spiraling effects on other firms in the economy. ... This is an aggressive move to meet the dollar shortages of the European banks. ... It is a signal that the situation is getting pretty tight for the banks." Additional coverage appeared in Yahoo! News, Chicago Tribune, and lse.co.uk.

Excerpt from The Wall Street Journal -- So far, job losses in finance have not been so large relative to the rest of the economy. ... There will be more to come.

Excerpt from Bloomberg Businessweek -- "Robert Frank, the Cornell economist, argued in 'The Winner-Take-All Society,' culture and technology narrow the market for pro athletes and entertainers — and, more recently, business and the professions — in a way that offers outsized rewards to a few stars."

Excerpt from BigThink -- "Microfinance, once viewed as a panacea for the economic problems of the poor, may also suffer from a general equilibrium problem. Even though extending credit to poor women has allowed many thousands of them to start small businesses and invest in household essentials, it hasn’t been proven to reduce poverty."

Excerpt from Bloomberg -- "Swift, the phenom, suggests the market for pop culture features elements of a vicious cycle perpetuated by music professionals, at least in the case of girls." Additional coverage appeared in Bloomberg Businessweek and San Francisco Chronicle.

Excerpt from National Review Online -- "Clearly, the United States is an outlier in its government involvement in mortgage markets, providing much more support than does any other country."

Excerpt from Financial Times, The A-List blog -- "It is increasingly clear that Italy’s public debt is unsustainable and needs an orderly restructuring to avert a disorderly default." Additional coverage appeared in CNBC, Bloomberg, Bloomberg Businessweek, Forbes, and Speigel.de.

Excerpt from The Huffington Post -- "Ultimately everybody in the markets believes that the lender of last resort is really the Federal Reserve."