Experience Stern | News & Events

Excerpt from Australian Financial Review -- "Nobel Laureate economist Michael Spence says the current global economic woes are a signal that a major power shift is occurring."  Additional coverage appeared in Hattiesburg American, EconoMonitor, Foreign Policy, Trading Room, Superior Telegram and Eurasia Review.

Excerpt from Calgary Herald -- "As Nobel-prize winning economist Michael Spence recently wrote in an article for Foreign Affairs Magazine, the ranks of the employed in the United States grew from 122 million to 149 million between 1990 and 2008, with about 98 per cent of the jobs created being in the so-called 'nontradable' sector of the economy; the goods and services produced and consumed domestically."  Additional coverage appeared on Foreign Policy.

Excerpt from Reuters blog -- "Perhaps more important for the performance of the market in the short-term, however, is that the Congressional committee charged with coming up with an additional $1.5 trillion in spending cuts is likely to be fractious enough to lead to what we might term the 'Amity Shlaes' problem1 - the uncertainty and the unpleasantness surrounding the nature of future cuts in spending is likely to lead capital to go on strike."

Excerpt from Forbes -- "In terms of the United States, the one place I think people should be very cautious is financials. We have been, and continue to be, quite cautious on financials."

Excerpt from Business Spectator -- "Spence pointed out that in recent decades, all the US jobs growth has been in non-tradeable goods like health, government services and housing construction, which was unsustainable."

Excerpt from Mineweb.com -- "Nouriel Roubini, professor of economics at the New York University's Stern School of Business said gold was a bubble when the price was $1100 an ounce."

Excerpt from Think Progress -- “Perry’s Remarks on Bernanke are criminal."  Additional coverage appeared on Politico, Business Insider, two New York Post pieces, AdvisorOne.com, National Review and a TIME blog.

Excerpt from SmartMoney -- "But research by Thomas Philippon, a finance professor at New York University's Stern School of Business, shows there has been surprisingly strong variation in the relative importance of banks in the economy."

Excerpt from Financial Times (German Edition) -- "If all investors really behave as so-called rational agents, the average returns and the volatility of market prices would be a whole lot lower," says Thomas Mertens.

Excerpt from The Daily Beast -- "To restore a stable pattern of inclusive growth—the kind that truly lifts all boats—the first step is to reduce the debt loads in these economies, not suddenly but systematically."

Excerpt from Project-Syndicate.org -- "The massive volatility and sharp equity-price correction now hitting global financial markets signal that most advanced economies are on the brink of a double-dip recession."  Additional coverage appeared on Truthdig.com, Slate.com, TodayOnline.com, Business Daily Africa and Aljazeera.

Excerpt from The Business Times -- "Studying auction prices alone gives some insight into the art market. Art.net, the Mei-Moses Art index and Astron.net (Chinese art) are all useful references."

Excerpt from PR Newswire -- "PwC US today announced that Paul DeNicola is joining PwC's Center for Board Governance as a director."

Excerpt from Diamond News -- "Scott Galloway discussed the strategic importance of social media in luxury marketing ... "

Excerpt from MarketingProfs.com -- "Time Magazine, People, and Self earned the top three spots among a list of 87 prominent magazine brands for exceptional marketing performance across digital, social, and mobile channels, according to the newly launched L2 ThinkTank Digital IQ Index, which measures and ranks the digital competence of magazine brands."

Excerpt from Seeking Alpha -- " ... mentioned in a New York University paper by Professor Edward Altman, is the intuitively obvious fact that the mix of industries in the high yield universe also influences the aggregate default rate."

Excerpt from the Australian Broadcasting Corporation -- "The way I've calibrated it is if the major industrial countries experience very low growth, they can sustain the growth, but if we take a big downturn, they can't replace the lost aggregate demand."

Excerpt from Reuters blog -- "Maybe a handful of gurus can warn of an impending crash — Prof. Nouriel Roubini comes to mind." Additional coverage in The Guardian and New York Magazine blog.

Excerpt from the Sydney Morning Herald -- "The Nobel Prize-winning economist, Michael Spence, who advised China on its latest five-year plan, thinks the China growth story can continue for two more decades."

Excerpt from Technorati -- "From the Private Sector, you have the globally renowned experts such as Nouriel Roubini who shot to fame after he predicted the 2008 crash."

Excerpt from The Telegraph -- "'Spain is the reality everyone is ignoring,' warned Nouriel Roubini, the bearish US economics professor, addressing a recent conference in Madrid."

Excerpt from The Atlantic Wire -- "The numbers speak for themselves, tweets New York University economist Nouriel Roubini: 'The Second Gilded Age: share of income earned by top 1% is now back to 1929 level at the onset of the Great Depression.'" Additional coverage appeared in Calgary Herald.

Excerpt from WJBC Radio -- "Richardson says that mortgage giants Fannie Mae and Freddie Mac may have grown to be “too big to fail” but, despite the size and financial interconnectivity of these government backed enterprises, failure was inevitable."

Excerpt from ABC News -- "Also elected to the [Coolidge Foundation] board are author and historian Amity Shlaes, who is writing a biography of Coolidge." Additional coverage appeared in the Ruthland Herald.

Excerpt from The Pioneer -- "Nobel Prize winning economist Andrew Michael Spence has neatly summed up the situation: 'Growth and employment are set to diverge.'"