Experience Stern | News & Events

Excerpt from Financial Times -- "Michael Spence, professor at the Stern School of Business, New York University said rising gaps between the rich and the poor matter 'because social and political cohesion and functionality can break down and you don’t know when it is going to happen.'"

Excerpt from The Huffington Post -- "The US is in what might be termed a partial recovery: growth at 1.5 to 2%, well below potential but a lot better than zero. This is being driven largely by the private sector, a flexible and dynamic economy and one that is shifting its resources at the margin toward the tradable sector where demand is not (or is less of) a constraining factor. Fiscal drag is significant and uncertain because the resolution of an ongoing sequence of budget standoffs is not known."

Excerpt from Bloomberg TV -- "When I got out of business school, the majority of us did pretty well. We made good livings. And now I think the term is, 'it's never been easier to be a billionaire.' Someone in my class of 130 kids, either through alternative investments, or getting on the right technology train...there's a decent chance we'll have a billionaire in those 130 kids in the next ten years. I think also a third of them are going to end up living at home at some point. They're not going to get onto the right job path, not get the right skills, they're going to have student debt that's going to get in the way of them taking risks, and there's a good chance they're really going to struggle. So it's never been harder to be a millionaire in the US, but it's never been easier to be a billionaire. We have this bifurcation of unprecedented proportions."

Excerpt from CCTV -- "'It’s a very heady experience because everybody is very friendly, there is much less security between people than usually you would have between people at this level. And you meet people in different parts of the world stage that are doing different but very interesting things. Whether they are NGOs or government representatives or CEOs of companies,' said Robert Engle, finance professor at Stern School of Business."

Excerpt from AP TV -- "'The Baby Boomer story is a simple story. They look back to their past with rose-tinted glasses. Everything that happened when they were young was wonderful,' said Priya Raghubir, professor of marketing at New York University."

Excerpt from BBC News -- "Detroit's ties to the auto industry have also lent it an appeal as the 'real man's city', says Scott Galloway, who teaches marketing at New York University's Stern Business School. Detroit 'reeks grit and toughness', he says, an association that is strongly male but can appeal to both sexes. 'Associating with a product that makes you feel manly or masculine is an incredible asset, and right now there is no more macho city than Detroit.'"

Excerpt from The Economist -- “It has to be both narrower and stronger,' says Paul Romer of New York University."

Excerpt from Bloomberg -- “'A comprehensive and decisive AQR will most likely reveal a substantial lack of capital in many peripheral and core European banks,' the authors wrote, referring to the central bank’s Asset Quality Review stage of the Comprehensive Assessment."

Excerpt from Suddeutsche (translated from German using Google Translate) -- "[Sascha Steffen, professor at the European School of Management and Technology (ESMT) in Berlin] along with his colleague in New York, Viral Acharya, examines the stability of 109 of the 124 banks that will be reviewed this year by the European Central Bank (ECB) and subjected to a so-called stress test."

Excerpt from TIME -- "Roubini believes that the U.S. is going to grow about 2.5 percent this year, which is up from predictions of the last few years, but below the consensus. As incoming Fed chair Janet Yellen told me last week, she and the other Fed governors are 'hopeful that the first digit [of GDP growth] this year will be 3 rather than 2.' But neither Bremmer nor Roubini was hopeful that it would be enough to close the inequality gap in the US, one of the key goals for President Obama in the remainder of his term."

Excerpt from Fortune -- "'We won't see a hard landing this year,' says Roubini. 'But 50% of China's economic growth comes from the government. That's not sustainable.'"

Excerpt from VoxEU -- "A comprehensive and decisive AQR will most likely reveal a substantial lack of capital in many peripheral and core European banks. This study provides estimates of the capital shortfalls of banks that will be stress-tested under the AQR using publicly available data and a series of shortfall measures."

Excerpt from US News -- "Jack Hanlon, who is pursuing an M.S. in business analytics at NYU, says that knowing about the teachers and their qualifications is an important aspect to weigh as a prospective student. 'Many of these professors are actually consultants outside of being professors. And that I take very seriously,' he says when referencing his teachers. 'This field is just changing too fast to be teaching it out of a textbook.'"

Excerpt from Politico -- "Her influence, known as the 'Michelle Obama Effect,' has literally moved markets: A 2009 study at NYU’s Stern School of Business examined 29 companies whose clothes she had worn over the previous year, and found that the firms experienced, on average, 2-3 percent climb in stock prices as a result. When her husband was still on the campaign trail, she wore a green pencil skirt by J. Crew on 'The Tonight Show,' and is said to have accounted for a 25 percent spike in the company’s stock over the next three days."

Excerpt from Reuters -- "The new study, by Viral Acharya, a New York University Professor and advisor to the European Systemic Risk Board (ESRB), and Sascha Steffen, of Berlin's European School of Management and Technology, was circulated to banks, think tanks and the ESRB in recent weeks. In their paper, Acharya and Steffen said euro zone banks would need up to 767 billion euros to bring their capital to the level seen by the Bank of England's head of financial stability, Andrew Haldane, as needed for the banks to have withstood the last crisis."

Excerpt from Financial Times -- "Urban residents have shared their assets and space informally for centuries, but innovative network technologies and social tools have made co-producing, lending, trading and renting assets cheaper and easier than ever before—and therefore possible on a much larger scale."

Excerpt from Bloomberg Businessweek -- "Peter Blair Henry, dean of New York University’s Stern School of Business, says he detects schadenfreude over the struggles of some emerging nations: 'Even amongst the educated elite there’s this idea about the global economy as a series of zero-sum scorecards.'”

Excerpt from Fox Business -- "From the banks’ perspective, Bernanke’s wealth of knowledge about the inner workings of the Fed would be invaluable. 'Who better than he would be able to guess what Fed policy would be, and what the effects of tapering would be?' said Richard Sylla, an economist and financial historian at NYU."

Excerpt from Next City -- "New York Democrat Nydia Velázquez, for example, said that 'It will be difficult, if not impossible, to capture their contribution in official employment statistics.' She was on the right track, Arun Sundararajan of NYU’s Stern School of Business affirmed: 'One of the ramifications is that we may be not measuring the full extent to which the country is employed, because we tend to count employment in terms of whole jobs.' Lawmakers, he suggested, need to start thinking about the contributions of more fragmented toil to the economy."

Excerpt from The Guardian -- "In their book Co-opetition, Adam Brandenburger and Barry Nalebuff offer the analogy of a judo match – competitors use their own strengths and their opponents' weaknesses as they face each other. The fate of one person is interdependent with the other; the move one person makes influences the moves made by the other. Providers will fare better if they work together rather than working in isolation."

Excerpt from Edge.org -- "The worship of parsimony is understandable in the natural sciences, where it sometimes does happen that a single law or principle, or a very simple theory, explains a vast and diverse set of observations. Newton's three laws really do explain the movements of all inanimate objects. Plate tectonics really does explain earthquakes, volcanoes, and the complementary coastlines of Africa and South America. Natural selection really does explain why plants, animals, and fungi look as they do. But in the social sciences, the overzealous pursuit of parsimony has been a disaster."

Excerpt from CNBC -- "The latest data show inflation in the euro area has slowed well below the European Central Bank's stated goal, and many of the economies risk a renewed contraction. Downward pressure on prices is likely to persist. It is not out of the question that the region could sink into a sustained deflation that would further cripple the economy. The ECB needs to take this threat seriously and demonstrate now that it has the policy tools (and is prepared to use them) in the event of a new deflationary shock."

Excerpt from Huffington Post -- "Stern School of Business Professor Arun Sundararajan says we may see an overall shift in consumer attitudes toward surge pricing in the coming year, as the ridesharing market 'thickens,' with more supply coming online, and less volatile price swings."

Excerpt from Bloomberg -- "Seven recipients of the Nobel Prize in Economic Sciences were among 75 economists endorsing an increase in the minimum wage for U.S. workers... Nobel Prize winners Kenneth Arrow, Peter Diamond, Eric Maskin, Thomas Schelling, Robert Solow, Michael Spence and Joseph Stiglitz were among signatories of the letter."

Excerpt from The New York Times -- "The economy has been changing, and new forces are causing inequality to feed on itself. One is that the higher incomes of top earners have been shifting consumer demand in favor of goods whose value stems from the talents of other top earners. Because the wealthy have just about every possession anyone might need, they tend to spend their extra income in pursuit of something special. And, often, what makes goods special today is that they’re produced by people or organizations whose talents can’t be duplicated easily."