Faculty News

Professor Pankaj Ghemawat discusses global trade patterns in Latin America

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Excerpt from El Pais -- "'Regional trade has always been a priority for every country in the world ... But in Latin America it is relevant to note that, while investment has been rising, trade has stagnated,' says Pankaj Ghemawat, economist and professor ..."
Faculty News

Professor Arun Sundararajan explains how Uber could be an ideal partner to government transit agencies

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Excerpt from The Washington Post -- "Arun Sundararajan, a business professor at New York University, said the ride-sharing option could empower paratransit users, because it would give them more travel freedom. Governments can set requirements related to driver screening and accessible vehicles, he said, much like Metro is proposing. Some transit officials predict that if they provide the customers and show a growing demand, the companies will move toward building accessible fleets."
Faculty News

Lord Mervyn King's new book, "The End of Alchemy," is reviewed

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Excerpt from The Telegraph -- "Part-memoir, part-policy missive, King’s chunky 430-page volume isn’t just an elegant guide to the history of economic ideas. It also gives a genuine insider’s account of how, following relative prosperity before Western banks began imploding in 2007, 'within little more than a year, what had been viewed as the age of wisdom was seen as the age of foolishness'."
Student Club Events

11th Annual Stern Venture Capital and Private Equity Conference

2016 SPEC Conference
The NYU Stern Private Equity Club (SPEC) will host the 11th Annual Stern Venture Capital and Private Equity Conference, themed "Changing Gears to Create Value: Outperforming the Benchmark," on Friday, March 4.
Faculty News

In an op-ed, NYU Global Research Professor Ian Bremmer explores the positive economic trends coming out of Africa

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Excerpt from TIME -- "It was just a couple of years ago that 'Africa Rising' was a hot story, as a continent best known for tragedy gained attention for rapid economic growth and real hope. The slowdown of the global economy and slumping commodity prices have dampened that enthusiasm a bit, but there are still positive longer-term trends across Africa that deserve attention."
Faculty News

Professor David Yermack comments on the problems currently facing the Bitcoin market

Fortune logo
Excerpt from Fortune -- "Bitcoin has gained attention from prominent economists and venture capitalists because it is the first platform that offers a global currency with a democratic process. 'We usually delegate this type of thing to experts—the Federal Reserve and so forth,' said Yermack. With Bitcoin, 'anyone can be an expert. This decentralized nature of the currency was part of its appeal.' The 'irony,' as Yermack says, is that this popular democratic process is leading to current problems."
Faculty News

In a co-authored op-ed, Professor Kim Schoenholtz discusses how "The Big Short" highlights the financial crisis and common misconceptions about the financial crisis

Huffington Post logo
Excerpt from The Huffington Post -- "The movie--along with some misleading criticism--prompts us to clarify what we view as the prime causes of the financial crisis. The financial corruption depicted in the movie is deeply troubling... But what made the U.S. financial system so fragile a decade ago, and what made the crisis so deep, were practices that were completely legal. The scandal is that we still haven't addressed these properly."
 
Faculty News

Professor Jonathan Haidt's research on political ideologies is highlighted

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Excerpt from The Irish Catholic -- "...Jonathan Haidt, whose area of academic expertise is moral psychology, has done research with a colleague, Emily Ekins, as to what causes people to vote for particular candidates in the US primaries. They draw on moral foundations theory, which was originally propounded by Haidt. In simple form, this proposes that there are six basic clusters of values, and that conservatives draw on all six, but that liberals focus primarily on individual liberty and care. The six values are firstly, care and harm: people feel compassion for those who are vulnerable or suffering. The next is fairness and cheating: people constantly monitor whether others are getting what they deserve, and whether things are balanced. They shun or punish cheaters."
Faculty News

Research Scholar Sarah Labowitz comments on new legislation addressing workers' rights abroad

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Excerpt from CNBC -- "'The standard of proof will be difficult to meet,' Labowitz said, adding, 'How do you demonstrate that a particular shipment of a particular commodity was produced with convict, forced or indentured labor? The bill doesn't come with increased resources to deal with this. It's going to take a coordinated effort on the part of the brands, the suppliers, government, financial solutions. You can't just police the first-tier suppliers.'"
Faculty News

Lord Mervyn King's book, "The End of Alchemy," is featured

Financial Times logo
Excerpt from the Financial Times -- "The former governor of the Bank of England is entitled to say that we have been warned. Those who do not agree with his recommendations will still have to concede that his book is an outstandingly lucid account of postwar economic policymaking and the dilemmas we now face. For good measure he is a master of the well-turned phrase, the apposite quote and the pungent boutade. It is rare to encounter a book on economics quite as intellectually exhilarating as The End of Alchemy — a dazzling performance indeed."
Faculty News

Professor Alex Dontoh highlights the importance of having government comptrollers in place to monitor compliance issues

Newsday logo
Excerpt from Newsday -- "'The problem with the system was that there was one person who had two roles — one role was depositing the cash in the bank and the other role was passing on the information about the revenues that were collected the previous Sunday onto the comptroller’s office,' Dontoh said. 'Those roles should have been separated.'"
Faculty News

Professsor Robert Whitelaw discusses the jobless rate in China, particularly in the coal and steel industry

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Excerpt from China Radio International -- "I think the overall jobless rate is not an issue. I mean, 4% is a relatively low number. Think of that number in comparison, for example, to the unemployment rate in the US, which is about 5% or much worse, the unemployment rates in Europe, say in France, is running at about 10%. More troubling perhaps is the 1.8 million workers that look like they're going to be laid off from the coal and steel industry."
Faculty News

In a co-authored op-ed, Professor Baruch Lev argues that the Financial Accounting Standards Board (FASB) should revise its regulatory requirements

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Excerpt from Accounting Today -- "...FASB must hit the pause button on issuing new standards. Uninformative or confusing financial statements enhance share price noise and investor uncertainty. Then, FASB must seriously assess the mounting evidence on the ineffectiveness of current accounting and reporting regulations. Both investors and executives will appreciate a fresh direction."
Faculty News

In an op-ed, Professor Adam Alter explains why Donald Trump's detractors won't likely move to Canada if he is elected

The Washington Post logo
Excerpt from The Washington Post -- "Why do so many disgruntled voters threaten to leave the country, only to see so few actually follow through? Because people overestimate how much pain they’ll feel when they experience a dreaded outcome."
Faculty News

In an op-ed, Professor Nouriel Roubini addresses global market volatility

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Excerpt from Project Syndicate -- "Two dismal months for financial markets may give way in March to a relief rally for assets such as global equities, as some key central banks (the People’s Bank of China, the European Central Bank, and the Bank of Japan) ease more, while others (the Fed and the Bank of England) will remain on hold for longer. But repeated eruptions from some of the seven sources of global tail risk will make the rest of this year – unlike the previous seven – a bad one for risky assets and anemic for global growth."
Faculty News

Professor Robert Seamans' research on the impact of Craigslist on the newspaper industry is cited

The Nation logo
Excerpt from The Nation -- "The sprawling lattice of local newsrooms is shrinking—105 newspapers closed in 2009 alone—whittled away by the rise of the Internet and decline of display ads, with the migration of classified advertising to Craigslist hitting particularly hard. Between 2000 and 2007, a thousand newspapers lost $5 billion to the free site, according to a 2013 study by Robert Seamans of New York University’s Stern School of Business and Feng Zhu of the Harvard Business School. Falling circulation numbers have also taken their toll."
Faculty News

Professor Luke Williams' remarks on innovation at Ellie Mae's Experience conference are highlighted

HousingWire logo
Excerpt from HousingWire -- "'If you’re only embracing incremental change, instead of disruptive change, your path becomes narrower and narrower. By the time you’re at the end of that path your customers have forsaken you.' Williams cited the example of Blockbuster — wildly successful at the time — shunning the idea of Netflix when they were presented with it. And Blackberry, the symbol of success a few years ago, now akin to the Motorola brick phone."
Faculty News

Professor Jonathan Haidt's views on why Donald Trump appeals to conservative voters are highlighted

Vox logo
Excerpt from Vox -- "It is as if, the NYU professor Jonathan Haidt has written, a button is pushed that says, 'In case of moral threat, lock down the borders, kick out those who are different, and punish those who are morally deviant.' 'Authoritarians are a real constituency that exists independently of Trump — and will persist as a force in American politics.'"
Faculty News

Professor Jason Greenberg's research on crowdfunding is referenced

Business Cornwall logo
Excerpt from Business Cornwall -- "According to a new study by Jason Greenberg (New York University), women are outperforming men on crowdfunding platforms, with female-owned businesses reaching their targets far more often than male-owned ones. This is good news for women looking to fund a business start-up or growth opportunity, especially when other routes may seem closed off."
Faculty News

Professor Luke Williams underscores the importance of innovation for growth

WFPL logo
Excerpt from WFPL -- "Disruption and innovation, it's not another transient measurement fad. It's what drives economic growth. So if you don't innovate, if you don't disrupt, you can't grow."
Faculty News

Professor Arun Sundararajan identifies the biggest challenge in the future of the sharing economy

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Excerpt from Swissquote Magazine -- "The proportion of people who make a living through these platforms will increase dramatically, while the number of people with a full-time job will drop. But we don’t yet know what type of safety net will be created for these people. Their lifestyle doesn’t fit with typical structures, but we can’t ignore them. What should we do with them? That’s the main thing to figure out."
Faculty News

Professor Stijn Van Nieuwerburgh explains why he believes Korea needs to implement economic reforms

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Excerpt from The Korea Times -- "'Ultimately, reforms that promote strong labor force participation — among men and women, the young and the elderly — and retooling of the unemployed; measures that unleash creative and competitive forces in the economy; are what are needed to rekindle and accelerate growth,' [Van Nieuwerburgh] said."
Faculty News

Referencing his book, "Global Vision," Professor Robert Salomon explains why Walmart was not successful in expanding into the Chinese market

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Excerpt from TheStreet.com -- "He added that Walmart, in fact, still struggles with profitability from its Chinese operations. 'They misread the culture,' said Salomon. 'Customers didn't want the same things in China that they wanted in the United States and they ran into trouble with local politicians and national politicians along the way.'"
Faculty News

Professor Kim Schoenholtz's blog post on the significance of paper currency is highlighted

Los Angeles Times logo
Excerpt from The Los Angeles Times -- "And Stephen Cecchetti of Brandeis University and Kermit Schoenholtz of New York University observe, the privacy of financial transactions should be seen on balance as a virtue. 'We are what we buy,' they've written,'so protecting our privacy requires controlling information about our payments.'"
Faculty News

Lord Mervyn King is interviewed about the state of the European Union and his forthcoming book, "The End of Alchemy"

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Excerpt from The New York Times -- "Mr. King has been warning about the possibility of another financial crisis, which he has contended is a near certainty, and says that the European Union is set for an 'economic political crisis.' In his book, he suggested that the monetary union had created a conflict between a centralized elite and democratic forces at the national level. 'This is extraordinarily dangerous,' Mr. King wrote."