Experience Stern | News & Events

Excerpt from Marketplace -- "Lawrence White is an economist at the NYU Stern School of Business. He says the financial crisis showed us 'just how fragile our financial system had become and how systemic roughly a dozen very large financial institutions had become.'"

Excerpt from The Huffington Post -- "Recent research in behavioral economics may help shed some light on why robust sanctions have not yet produced nuclear concessions from the regime. ... there is a widespread international norm against nuclear weapons acquisition, and Iran may well view economic punishment as a 'fee' for its nuclear pursuits."

Excerpt from Poets and Quants -- "When Professor Aswath Damodaran sets out to teach a class or give a lecture, his goal is to convert each student into a born again finance enthusiast. Damodaran’s passion for teaching finance has garnered him high marks for teaching excellence. In 1988 and 1990 he was presented with Stern’s Excellence in Teaching Award and NYU’s Distinguished Teaching Award, respectively. The impression he has left on MBA students over the years is demonstrated by his repeated rank as the leading vote-getter for Professor of the Year, an award he has received five times during his career at Stern."

Excerpt from Poets and Quants -- "'The combination of Professor Galloway’s background in brand strategy and entrepreneurship, and his unique teaching style, makes his classes among the most popular marketing courses at Stern. I consider him a mentor, a guide and an amazingly bright person I wish to become one day.' – Asel Moldakhmetova - Stern 2012"

Excerpt from Fox Business -- "Geithner’s 'lack of any experience whatsoever in the private sector is just a huge handicap,' said Yermack. 'Despite his political connections, he seems pretty unqualified to run a big bank.' Yermack also said Geithner’s relationships with other government officials could raise questions about how Citi would be regulated going forward, preoccupying the board and Geithner himself."

Excerpt from WIRED -- "...today’s internet is not just for sharing information and commerce and things: It’s now the internet for sharing and accessing real-world services. We may call it the “sharing” economy (its philosophical roots are in peer-to-peer), but the services in it aren’t free or reciprocal – these are real markets in which you pay for what you get. However, this doesn’t mean we need to regulate it with the structures and rules of the real world. It’s a mistake to assume that just because technology provides “new leverage for old behaviors” that we need old ways of regulating new things."

Excerpt from Fox Business -- "'It was chaos. People who were in the markets were shell-shocked,' said Richard Sylla, an economics professor and financial historian at NYU. 'If you were lucky enough to get through on the phone to your broker, you didn’t really know what happened. Your order was behinds hundreds and thousands of other transactions.'"

Excerpt from The New York Times -- "The global financial crisis destroyed reputations as effectively as it destroyed wealth. Alan Greenspan, Robert E. Rubin, Sanford I. Weill, Richard S. Fuld Jr., James E. Cayne — the list of the humbled is almost endless, while the number of heroes is minuscule. One man, however, bucked the trend and almost alone emerged from the crisis even more revered and admired than he had been already. And now, with the arrival of 'Volcker: The Triumph of Persistence,' Paul A. Volcker has finally been awarded a meticulous historical account of exactly how he reached his exalted position."

Excerpt from R&D Magazine -- "They calculated that 10 extra installations in a zip code increase the probability of an adoption by 7.8%. If there is a 10% increase in the total number of people with solar panels in a zip code—the 'installed base'—there will be a 54% increase in the adoption of solar panels. 'These results provide clear evidence of a statistically and economically significant effect,' says Bryan Bollinger, the other co-author and assistant professor of marketing at New York University Stern School of Business."

Excerpt from Quartz -- "A significant portion of China’s estimated $1 to 2 trillion of foreign investment will likely enter the US and other developed nations in the next decade. Now is the moment to think seriously about creating a multilateral framework for foreign direct investment."

Excerpt from Financial News -- "Evidently O’Neill, a former Marine and respected career banker who successfully turned around a distressed Bank of Hawaii, had become impatient after serving on the Citigroup board for three years and was ready to force some real changes. His election as chairman of the board, replacing Richard Parsons, last April finally signified the end of the Sandy Weill era at Citigroup."

Excerpt from Reuters -- "Roy Smith, a professor at New York University Leonard N. Stern School of Business, said the existing securities and commodities laws provide legal standards for prosecuting executives who provide false and misleading information. The challenge is showing the executive’s intent, he said."

Excerpt from CBS News -- "I felt a responsibility to my students to explain who Paul Volcker was and why every central banker since is in his debt."

Excerpt from The New York Times -- "In short, the economist’s cost-benefit approach — itself long an important arrow in the moral philosopher’s quiver — has much to say about the effects of rising inequality. We need not reach agreement on all philosophical principles of fairness to recognize that it has imposed considerable harm across the income scale without generating significant offsetting benefits."

Excerpt from Project Syndicate -- "The major emerging economies were the world’s main growth engines following the eruption of the financial crisis in 2008, and, to some extent, they still are. But their resilience has always been a function of their ability to generate enough incremental aggregate demand to support their growth, without having to make up for a large loss of demand in developed countries. A combination of negligible (or even negative) growth in Europe and a significant growth slowdown in the United States has now created that loss, undermining emerging economies’ exports."

Excerpt from The Huffington Post -- "First, flaws in the design and implementation of the EMU have made the crisis worse. Second, the decentralized decision-making process of the EU, with political power concentrated in countries rather than Europe, makes effective crisis management nearly impossible."

Excerpt from Project Syndicate -- "The United States Federal Reserve’s decision to undertake a third round of quantitative easing, or QE3, has raised three important questions. Will QE3 jump-start America’s anemic economic growth? Will it lead to a persistent increase in risky assets, especially in US and other global equity markets? Finally, will its effects on GDP growth and equity markets be similar or different?"

Excerpt from The Huffington Post -- Translated from Italian using Google Translate: "In the period 1990-2009, gross domestic product per capita Italian (real, that is, correcting for inflation) grew at an average of 0.6 percent per year. In other words, in less than twenty years, GDP per capita grew by only 11% (Bank of Italy)."

Excerpt from ABC News -- “There used to be liberal Republicans and conservative Democrats; those are largely gone,” Haidt said. ”So now we’re not like two sports teams competing, we are like something from ‘Lord of the Rings.’ ‘We’ are the perfectly good people and ‘they’ are the forces of darkness. And that’s unfortunate, it’s hard to have a democracy without compromise, and it’s very hard to compromise when the people think the other side is evil.”

Excerpt from NerdWallet -- "I think that some classes should be made mandatory in high school — high school rather than college, because it’s the least educated who need those classes the most. Finance is a somewhat novel and abstract field, and it should be learned. Some basic rules of thumb are pretty simple to learn, but they will go a long way towards avoiding catastrophic finances down the road."

Excerpt from Psychology Today -- "One possibility is that by completing several small tasks, I give myself a sense of competence that I can do what I set out to do, or what psychologist Albert Bandura has termed “self-efficacy.” Another possibility, however, is that trying to pay attention to a number of smaller sub-tasks makes it harder for me to maintain my focus on the big picture (think: 'Well, I just finished these three little things, so I may as well as check out what’s new and exciting on Facebook for three hours before writing this blog post')."

Excerpt from CNBC -- "It's the speed of real time data being generated that makes it so appealing to businesses...Macy's used it to determine how many customers they will get at Thanksgiving, and can plan on what to sell in real time. And Sears personalized promotions for customers in a just a week when it used to take them eight. There's so much that can be done with it."

Excerpt from Ignites (a Financial Times service) -- "Creating a leadership development program internally, rather than outsourcing that entire function, is important for firms because it sends a signal to all employees, says R. Kabaliswaran, a clinical professor of management at New York University who also teaches MBA courses on leadership, power, politics and strategic design at the NYU Stern School of Business."

Excerpt from TIME -- "Both candidates are essentially saying, Vote for me because the other side destroyed a fair America in which hard work paid off. Vote for me because I’ll restore fairness and the American Dream. But if we dig a little deeper into what the two sides mean by fairness, the similarities melt away."

Excerpt from Financial News -- "The last time economic issues took centre stage with such significant importance was 20 years ago when Ross Perot, as an independent, gathered 19% of the popular vote in support of his deficit reduction agenda."