Becker Friedman Institute for Economics at University of Chicago — Frontier Research, Global Impact. | BFI (original) (raw)
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Exchange Rates, Natural Rates, and the Price of Risk
Persistent demand shocks, reflected in persistent interest rate differentials, account for 75% of the variance in the dollar/G10 exchange rate. Currency intermediation shocks play a key role at higher frequencies, especially during crises when the dollar appreciates despite lower US...
Carbon Burden
The US corporate sector’s “carbon burden” (the present value of social costs of its future carbon emissions) is 131% of total corporate equity value; 77% of individual firms have carbon burdens exceeding their market capitalizations.
Poverty, Hardship, and Government Transfers
In the years leading up to the pandemic and during 2020, income poverty and consumption poverty tracked closely. The two measures diverged in subsequent years, however, apparently due to savings behavior: expanded unemployment benefits and stimulus payments boosted savings and...
Assortative Matching and Wages: The Role of Selection
We develop a random search model with two-sided heterogeneity and match-specific productivity shocks to explain why high-productivity workers tend to work at high-productivity firms despite low-productivity workers gaining about as much from such matches. Our model has two key predictions:...
About the Becker Friedman Institute
The Becker Friedman Institute for Economics (BFI) serves as a hub for cutting-edge analysis and research across the entire University of Chicago economics community, uniting researchers from the Booth School of Business, the Kenneth C. Griffin Department of Economics, the...
Our Legacy
Inspired by our namesakes, Nobel Laureates Gary Becker and Milton Friedman, who believed that economics research could help improve the world, BFI works with the Chicago Economics community to turn its evidence-based research into real-world impact.
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