Experience Stern | News & Events

Excerpt from The New York Times -- "Because the economics profession failed to predict the financial crisis in advanced nations, critics claim that economists have little practical use and wield too much influence. In fact, the opposite is true. We need economists’ thinking now more than ever — provided we match the tools of economics to the proper task."

Excerpt from Bloomberg -- "'It is very unlikely that the euro zone will give new money to Greece for months, as the Greek positions are uncertain and significant negotiation is necessary,' Nicholas Economides, professor of economics at New York University’s Stern School of Business, said by e-mail. 'This puts cash-strapped Greece in a very dire position.'"

Excerpt from Financial Times -- "On 3 February, the school welcomed Thomas Philippon, professor of finance at NYU Stern School of Business, who has recently produced a paper warranting a great deal of examination: after painstaking research, he has concluded that over the past 130 years, there has been no productivity increase in finance."

Excerpt from Inc. -- "'It is incredibly difficult to start to do things that are not within people's expectations because that brand promise comes with expectations,' says Carr. 'What is impressive about Swift is that ability to cross lines.'"

Excerpt from Quartz -- "As NYU Stern professor Arun Sundararajan tells Quartz, 'being employed full-time by one company may soon be the exception rather than the rule.'"

On Friday, February 6, Stern Women in Business (SWIB) will host their 23rd annual conference, themed, "The Economics of Success: Joint Advocacy for Better Business."

Excerpt from BusinessBecause -- "Stern’s inaugural class in 2013 attracted students from a wide range of industries, from healthcare to manufacturing and venture capital, said Roy Lee, assistant dean of global degree programs. Demand has been insatiable. 'For both years, we filled a maximum class of 60, and for both we closed out the admissions cycle a month and half early, with a waiting list for the following year,' added Roy."

Excerpt from Clear Admit -- "The William R. Berkley Scholarship Program, established in 2013, covers the full two-year tuition and fees for NYU Stern’s full-time MBA program. It also provides a housing stipend of $18,000/year and an additional $10,000/year stipend for books and other expenses. Successful entrepreneur William R. Berkley (BS 1966) created the program that bears his name with a $10 million donation. He pursued his MBA at Harvard Business School immediately after graduating from Stern and wanted to provide similar opportunities for other aspiring young students like himself."

Excerpt from Fortune -- "Given that there are few, if any options left, it is time for a new 'kolotoumba.' We’ll likely see Syriza soften its leftist position in the coming months, as the first sign happened this week when Varoufakis abandoned the pre-election promise to erase a chunk of Greece’s public debt. Instead, he promised that the country would pay down its entire debt under new terms. It’s also likely that Greece will drag things out for a few more months, possibly reverting back to its previous rescue package so that Greek banks have enough money to stay afloat."

Excerpt from Inc. -- "When Justin Kruger, a professor at NYU's Stern School of Business, asked people to estimate how long it would take them to get ready for a date, do all of their holiday shopping, format a computer document and prepare a meal, participants came up with much more accurate guesses when they 'unpacked' a task. This means they considered the very detailed step-by-step process required to get their to-do items done."

Excerpt from The Washington Post -- "'As the number of small businesses gets larger, and as the size of each small business gets smaller,' Sundararajan says, 'the overhead that this is going to impose on a regulatory authority is going to be pretty extensive. It seems sort of socially efficient to delegate that.'"

Excerpt from Entrepreneur -- "While Kilduff stipulates that in any real-world case studies there are various factors at play and so attributing causation can be tricky, he points to the rivalry between U.S. automakers in the 1990s. 'It seems as if those three automakers were so intensely competing with one another that they didn't pay attention to anyone else, allowing Japanese automakers to come in and overtake them.' A similar dynamic likely played out between Coke and Pepsi. The soft drink giants poured so much energy into tracking one another's movements that Kilduff speculates they entirely missed the emergence of popular new energy and health drink brands."

Excerpt from Marketplace -- "The rise of big-box stores and online retailers like Amazon have since changed the competitive landscape, says Robert Salomon, an associate professor of management and organizations at NYU's Stern School of Business."

Excerpt from BusinessBecause -- "Lindsey came to the high-ranking business school after a career piloting Blackhawk helicopters over Iraq and training thousands of US soldiers, many of whom may soon enter the civilian workforce. 'Coming to Stern is the first step I’m taking as I prepare to move into the corporate realm,' she told NYU Stern’s website. 'I feel the army has given me the leadership experience I need. There are other areas of business in which I still have a lot to learn.'"

Excerpt from Fortune -- "Without fresh funding, Greece could go bankrupt by mid-2015 at the latest. 'This puts the ECB in the most central position,' says Economides. 'The ECB is in a position to throw Greece out of the Euro. They’re not politicians, they’re a bank. Depending on the ECB is an extremely risky position for the new government to put themselves in.'"

Excerpt from Bloomberg -- "In some sense, you could argue that when the Fed starts to normalize after this very unusual period, that that will be actually psychologically helpful because it will tell the world that the US is back on a normalization path. That will be a sign of health. I don't expect the Fed to rush into this. In fact, you could argue that, with oil prices having fallen so far, that that will give the Fed a bit of a chance to be even more patient. Inflation is lower and we have had a positive supply-side shock. If anything, the textbook response to that is to wait longer."

Excerpt from Bloomberg -- "Before we find a policy solution, we have to understand the reason why there is this rising inequality. I think it's a combination of factors that are complicated. One is that technological innovation is becoming increasingly capital-intensive, skill-biased and labor saving. Eventually, the robots are going to replace lots of not just blue collar, but even white collar jobs. And, secondly, trade and globalization has lead to competition from Asia and other parts of the world for low-value-added, low-skill jobs, both in manufacturing but now in services... Third of all, there is this winner-take-all, superstar effect. If you are the best trader, the best banker, the best lawyer... of course you now have a market of potentially billions of consumers of your products and services. And therefore, they can enjoy more of the benefits of globalization. So there are many different factors that are leading to this concentration of income and wealth."

Excerpt from Luxury Daily -- "'For a brand like Bottega Veneta, a brand of inconspicuous quality that relies heavily on the quality of materials, design and craftsmanship, building the microsite is a studied strategic initiative,' said Thomaï Serdari, Ph.D. brand strategist and adjunct professor of marketing at New York University, New York. 'It allows the brand to tell the story of the product and treat it as an exceptional entity amongst its other offerings.'"

Excerpt from AFP -- "Arun Sundararajan, a New York University economist who studies the sharing economy, told a January congressional hearing that 'this transition will have a positive impact on economic growth and welfare, by stimulating new consumption, by raising productivity, and by catalyzing individual innovation and entrepreneurship.'"

Excerpt from Marketwatch -- "Consider a study conducted in the mid-1990s by three finance professors — Stephen J. Brown of New York University, William Goetzmann of Yale University and Alok Kumar of the University of Miami. They fed Hamilton’s market-timing editorials from the early decades of the past century into neural networks, a type of artificial-intelligence software that can be 'trained' to detect patterns. Upon testing this neural network version of the Dow Theory over the nearly 70-year period from 1930 to the end of 1997, they found that it beat a buy-and-hold strategy by an annual average of 4.4 percentage points. Their study appeared in the August 1998 Journal of Finance."

Excerpt from WIRED -- "'The broader context here is for us to start thinking about a safety net that is creative, that is not contingent on employment by a large company,' says Arun Sundarajaran, a professor at New York University’s Stern School of Business."

Excerpt from San Francisco Chronicle -- "New York University finance Professor Aswath Damodaran said the entire brouhaha centers on a fantasy. 'What we have is two companies supposedly fighting over a market that does not even exist,' he wrote in an e-mail."

Excerpt from Bloomberg -- "'Without European loan support, Greece will run out of money in March, possibly sooner,' said Nicholas Economides, professor of economics at New York University’s Stern School of Business. 'This could result in a new Greek bankruptcy within the euro or even a "grexit,"' the term used for a Greek withdrawal from the common currency."

Excerpt from Newsweek -- "Conducted by Jason Chan, assistant professor of information and decision sciences at the University of Minnesota and professor Anindya Ghose from NYU’s Stern School of Business, the study revealed a surprising increase in cases of HIV when a city adopted the intermediary service provider."

The NYU Stern Center for Global Economy and Business will host the Economic Outlook Forum on February 3, 2015.