Experience Stern | News & Events

Excerpt from Forbes -- "'It’s one thing to lie about your borrowing rate to make you look better. That’s like saying you’re 5 feet 9 inches when you’re really 5 feet 7 inches,' he says. But the worst case scenario is that the evidence shows banks were in fact colluding to push the Libor rates up or down for their own profit. 'If banks were colluding to push the rates in one direction or another then that’s a much more serious problem,' Subrahmanyam says."

Excerpt from Forbes -- "... NYU Stern School of Business recently announced a new financial aid program to help graduates who want to work for L3Cs, certified B Corps., or companies registered under the new Benefit Corporation structure, as well as for nonprofits and the public sector."

Excerpt from Bloomberg -- "The behavior of wealthier households can have an adverse effect on less-wealthy people, Robert Frank, a Cornell University economist, wrote in an e-mail, describing the phenomenon as a 'positional arms race.'"

Excerpt from Bloomberg Businessweek -- “'We have a warm collaborative culture at Stern,” writes Isser Gallogly, assistant dean of MBA admissions and financial aid at the school. 'But hugging the interviewer at the end or asking, ‘How did I do?’ goes too far.'”

Excerpt from Bloomberg Businessweek -- "Simon Bowmaker, a clinical associate professor of economics at New York University’s Stern School of Business, takes a look at how 21 economists at top U.S. universities view their profession in his new book The Heart of Economics"

Excerpt from Psychology Today -- "Since we know that people are more likely to donate to hurricanes that share their first initials, the World Meteorological Organization has the power to increase charitable giving just by changing the composition of its hurricane name lists."

Excerpt from Psychology Today -- "...the more pain people felt when viewing how much an object cost – the less likely a person would be to subsequently buy that object when given the chance. The pain of paying, then, can be an effective way to ensure that we don’t overspend. But, it can also take away from an otherwise pleasurable experience..."

Excerpt from Financial Times -- "It’s okay not to know exactly what you want to do right away. But I have learned that if you keep true to yourself, regardless of other people’s expectations, you will end up where you should be."

Excerpt from Bloomberg -- "In the Euro-zone, the slow-motion train wreck could become a faster-motion train wreck."

Excerpt from The New York Times Campaign Stops blog -- "Michael Spence, a professor at N.Y.U.’s Stern School of Business, and David Autor, an economist at M.I.T., have argued that this 'hollowing out' process is a result of twin upheavals: globalization and the hyper-acceleration of technological progress."

Excerpt from TechCrunch -- "At Stern, there are two separate Entrepreneur Challenges open to students and alumni – traditional ventures and ideas that address social programs. The winners of both can get up to $75,000 of funding."

Excerpt from Examiner.com -- "When a school teaching business breaks down the business of Broadway, the importance of arts making monies is brought to new light by our highly educated respected leaders."

Excerpt from The Economist -- "Rosa Abrantes-Metz of NYU’s Stern School of Business was one of a group of academics who, in 2009, raised the alarm that something fishy was going on with LIBOR. One simple change, she proposes, would be significantly to raise the number of banks in the panel. The theoretical changes needed to repair LIBOR are not difficult, but there are practical challenges to reform."

Excerpt from Crain's New York -- "A majority of New York City hospitals scored below the halfway mark in an August 2012 edition of Consumer Reports ranking more than 1,000 hospitals nationwide on patient safety. But the results can twist how hospital administrators prioritize improvements, said Heski Bar-Isaac, a professor of economics at the Rotman School of Management at the University of Toronto. 'If the rankings aren't counting absolutely everything, then they might be pushing investments and performance in certain directions,' he said."

Excerpt from Bloomberg -- "'Europe’s problem is that it’s running out of time,' he [Schoenholtz] said. 'The question isn’t whether it’s plausible to imagine a Hamiltonian solution. The question is whether it’s plausible to imagine one that can be organized in the time that monetary union has.'"

Excerpt from Chicago Tribune -- "In each instance, it seems reasonable to make a budgeting exception given the special nature of the spending and the low likelihood that a similar situation will recur any time soon," says the study in the Journal of Consumer Research. "Independently, each of the events described puts a temporary dent in a budget; together, they can have substantial consequences for long-term financial planning."

Excerpt from American Banker -- "'It looks like a free lunch until it isn't. And that's the whole essence of Fannie and Freddie,' White said. 'They were making mortgages a little less costly, and there was no apparent budgetary consequence. This was a politician's dream.'"

Excerpt from Forbes -- "To achieve your boldest ambitions, keep a broad perspective and seek unconventional paths to create value."

Xavier Gabaix, NYU Stern Professor of Finance, was awarded the 2012 Lagrange-CRT Foundation Prize for his research in complex systems, in particular for his work on power laws in financial markets and macroeconomics. Each year, the international Prize is awarded to a scientist or scientists under the age of 50 for their achievements, theoretical and experimental, relevant to the progress, applications and dissemination of complexity science.

Excerpt from MSNBC -- "'A bank’s board can only defend you to the death for a short time,' Smith said. 'After that, the board will say it’s you or us, and so they’ll undercut you. Boards tends to get very skittish when their reputation is at risk.'"

Excerpt from Bloomberg Businessweek -- "The estimate comes from a paper Frederic Schweikhard and Zoe Tsesmelidakis presented in late May to an NYU Stern School of Business conference on credit risk. The pair, both PhD candidates at Goethe University Frankfurt, relied on a time-proven tool of finance – the Merton model of pricing corporate debt–to come up with their estimate."

Excerpt from Journal of Applied IT and Investment Management -- "Today’s global financial problems are probably as severe as those faced in the early 1930s. Time will tell. But the top tier of global financial institutions are far bigger than they were back then."

Excerpt from The New York Times -- "What’s important now is how the health care sector will evolve under the new framework. And here, there are grounds for optimism. While the effects of the court’s Medicaid restrictions aren’t entirely clear, the law will certainly extend coverage to tens of millions who now lack it."

Excerpt from The Japan Times -- "'What we have come to realize is that the world is changing too fast and that globalization means that no competitive advantage is sustainable in the long run,' [Wiesenfeld] said. 'We are now trying to teach organizations how to be ambidextrous, which in the context of innovation means to both cut costs and be efficient and deliver quality on one hand, and at the same time be constantly exploring and looking for new ideas and innovations on the other.'"

Excerpt from The Economist -- "Research led by Alexander Ljungqvist of New York University’s Stern School of Business has shown that VC firms in influential network positions perform better, as they have more opportunity to take part in syndications. The moral seems to be that investors should make friends easily, but not invest for friendship’s sake alone."