Experience Stern | News & Events

Excerpt from Financial Times -- "The seven judges chose the shortlist – including Volcker, William Silber’s newly published life of Paul Volcker, the former Federal Reserve chairman, and Steve Jobs, Walter Isaacson’s account of the life and work of the late chief executive of Apple – from 17 longlisted titles. Lionel Barber, the FT’s editor, called it “the strongest list in terms of quality” since the prize was launched in 2005."

Excerpt from The Wall Street Journal -- "'There is a common-law right to be in the banking business,' ... In 1916, he said there were 4,046 private banks in the U.S., but they fell out of favor after the Great Depression and with the advent of deposit insurance. Only a handful are left, said Mr. Sylla. 'It's not because they're illegal, but most people are going to prefer to deposit their money in an incorporated bank with deposit insurance,' he said. 'It's going to be more complicated for a private bank to get private insurance.'"

Excerpt from The Wall Street Journal -- "If Germany could credibly assure financial markets that the euro zone will not break up, then sovereign differentials would be reduced, bank balance sheets would be improved and prospects for future growth would rise. How could Germany convince financial markets? One way would be by committing to back eurobonds or similar forms of debt mutualization. If $2 trillion of eurobonds were authorized to recapitalize the banks—and the first tranches sold and used to rescue the weakest banks—then confidence in the market would do the rest."

Excerpt from Project Syndicate -- "Ineffective governments with weak leadership are at the root of the problem. In democracies, repeated elections lead to short-term policy choices. In autocracies like China and Russia, leaders resist the radical reforms that would reduce the power of entrenched lobbies and interests, thereby fueling social unrest as resentment against corruption and rent-seeking boils over into protest."

Excerpt from Science News -- “'Prior work on political mobilization and motivation for voting has been focused on the individual,' says information economist Sinan Aral of New York University. 'This paper presents really nice large-scale evidence that political mobilization is a peer-to-peer activity.'”

Excerpt from Bloomberg -- "I think logically, everyone thinks it's headed towards a mobile web HTML 5 but so far people seem to like their apps and apps have maintained huge share."

Excerpt from Slate -- The research team—Romana Khan of Ozyegin University in Istanbul, Kanishka Misra of the London Business School, and Vishal Singh of NYU—collected scanner data from over 1,700 supermarkets for 2001 to 2006 to examine how milk-buying patterns differ around the country depending on whether lower-fat varieties of milk are cheaper than whole milk or exactly the same price.

Excerpt from NetworkWorld -- "It's too early to tell whether the gamification trend has long-term potential, Sundararajan says. 'But there are a couple of reasons why I think it's promising.' The first is that employees are increasingly expecting to have technology at work that resembles what they use at home. 'They want the stuff that they see at work to be like Facebook, like Foursquare, like the iPhone,' he says. 'This is very different from 10 or 15 years ago, when there wasn't much technology developed just for the consumer.' And the trend is only accelerating, he adds."

Excerpt from The New York Times -- “'It makes no sense to ascribe intentions to a robot,' said an author of the study, Robert H. Frank, an economics professor at Cornell. 'But it appears we have certain postures and gestures that we interpret in certain ways. When we see them, whether it’s a robot or a human, we’re affected by it, because of the pattern it evokes in our brain responses.'”

Excerpt from Reuters -- "The important policy question to ask now is which structural reforms and investments in human capital can make our longer-term growth options better. If we focus on quick monetary or stimulus fixes rather than those questions, then we can’t expect anything better than this slow, painful recovery."

Excerpt from NBCNews.com -- "Paradoxically, the controversy possibly could help Hollister, said NYU Stern School of Business management communication professor Irving Schenkler. “I think there’s a category for certain brands known as rebellious brands,” he said, pointing out that retailers like Calvin Klein and Nike have embraced provocative images and figures."

Excerpt from Council of Foreign Relations -- "I think we have to expand the -- turn the tradable sector into an employment engine again, which it has not been for a while. And that means keeping the healthy parts of it and finding, through a combination of public policy and reforms and investment on the one hand, and private sector investment and dynamism on the other, places where we can invest and compete."

Excerpt from SmartMoney -- "The good news, says Anindya Ghose, co-director of the Center for Digital Economy Research at the NYU Stern School of Business, is that savvy citizens are already using the digital era's overwhelming supply of data to their benefit—finding better deals, unearthing smarter investments and holding companies accountable."

Excerpt from The Wall Street Journal -- "Whoever wins the election in November, high on the president's agenda must be the task of reviving a flagging economy. Just as important as figuring out what to do will be actually making it happen—getting something done despite the inevitable obstacles and infighting. William Silber's 'Volcker: The Triumph of Persistence' thus comes at the perfect time, for Paul Volcker is one of those rare Washington figures who know how to think shrewdly about the economy and also how to make broad intentions into hard political realities."

Excerpt from CNBC -- "Nouriel Roubini, chairman of Roubini Global Economics, told CNBC, 'I would say the US economy is weak enough and employment is high enough that the Federal Reserve will do QE3 eventually.'"

Excerpt from The Guardian -- "Soon after Romer visited Tegucigalpa at the start of the year, the Honduran congress approved an enabling bill for the creation of economic development zones. Lobo has reportedly taken fact-finding delegations to Hong Kong, Singapore and Dubai to look at possible models."

Excerpt from Bloomberg -- "Clearly we have to do what we can to accelerate the deleveraging process and go back to something reasonably normal in the economy, but that won't be sufficient. It may generate growth, but it won't solve the employment problem."

Excerpt from Bloomberg -- "More than any other company, Facebook is positioned to radically expand digital marketing, moving us from today’s narrow, intent-based approach to a broader and more familiar persuasion-based model. For that to happen, it needs to step out of Google Inc.’s shadow and embrace a strategy that plays to its strengths and unique position at the center of today’s Internet. It must reinvent rather than replicate."

Excerpt from Yahoo! News -- "A safe, easier to pronounce name may in fact prompt a child to excel in life, according to Dr Laham's study with Dr Adam Alter from New York University."

Excerpt from Bloomberg -- "I'm afraid by now the ratings in Europe are almost collective, so even the countries that are in good shape now and have a triple A rating will have a problem as the crisis escalates. If Mario Draghi is successful in buying the bonds of Italy and Spain and the the crisis is contained, then I think we are looking at a much brighter future for the euro-zone."

Excerpt from The New York Times -- "The report, I think, confirmed a lot of what we've known, in academic circles, at least, for about a decade - which is that American households have some serious issues with financial literacy."

Excerpt from USA Today -- "Managers can get a heightened sense of their own power when they're pushed to zero in on bottom-line issues such as headcount, budget control and worker bonuses, according to a recent experiment from New York University's Stern School of Business and Cornell University's Johnson School of Management. 'As resources become more finite, then there is a pecking order of who gets more. That gets everyone more focused on power,' says Steven Blader, associate professor of management and organizations at NYU."

Excerpt from The Economist -- "Alan Greenspan may be the most famous central banker of the modern era, but Paul Volcker has been the most influential. He played a crucial diplomatic role during the death of the Bretton Woods financial system in the early 1970s, which severed the link between money and gold and ushered in floating exchange rates. . . . This long record of public service earns the admiration of William Silber, his new biographer."

Excerpt from USA Today -- "Gavin Kilduff, professor of management at New York University’s Leonard N. Stern School of Business, has researched the causes and consequences of rivalry and competition by focusing on the NCAA and other sports teams. He has found three factors that influence the formation of rivalries: similarity, repeated competition and evenly-matched past competition."

Excerpt from NBCNews.com -- "According to Priya Raghubir, a research professor at New York University’s Stern School of Business and lead author on a new report on the subject, many international travelers suffer from a “money illusion” that causes them to overspend even when they understand exchange rates and currency conversions."