Efraim Benmelech 

Efraim Benmelech is the Harold L. Stuart Professor of Finance, the Director of the Guthrie Center for Real Estate Research at the Kellogg School of Management and a Research Associate at the National Bureau of Economic Research (NBER). Benmelech’s research interests are in the field of credit markets where he studies financial contracting, financial crises, securitization, bankruptcy and financial distress. He also writes extensively on the economics of terrorism and economic history.

Back to Work? The Political Preparation for “Phase 2” of the Pandemic Is a Matter of Trust

According to a special wave of the Booth/Kellogg Financial Trust Index, Americans have bought into social distancing rules. However, most of the respondents are...

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A New Browser Extension Aims to Bring Transparency to Big Tech Funding

As Congress prepares to debate a series of new antitrust bills​, the​ Big Tech Funding browser extension encourages lawmakers to be mindful...

What Are They Hiding? What Firms Don’t Want Us to Know About Their Economic Development Incentives

State and local governments offer firms all kinds of incentives in hopes of spurring local economic development. New research finds that a...

Two Years After the Business Roundtable Statement: Pointing in the Right Direction

The 2019 Business Roundtable statement was a welcome break from the position that the nation’s top corporate CEOs took in 1997, when...

The Complicated Legacy of the “Chicago Boys” in Chile

How did a group of Chicago-trained economists manage to turn Chile into the cradle of neoliberalism? As the country aims to move...

“Comments for Sale”: Charitable Donations Can Lead Non-profits to Support Corporate Regulatory Agendas

A new paper shows how financial ties between companies and non-profits can subvert rulemaking process and lead to regulations that favor the...

The DOJ’s “New Madison” Doctrine Disregards Both the Economics and the Law of Innovation

DOJ’s “New Madison” approach to antitrust and intellectual property law dictates that antitrust should stay out of disputes over patents, even when...

Two Years Later, Has the Business Roundtable Statement Transformed Capitalism?

Two years after the Business Roundtable redefined its statement of Purpose of a Corporation to include “a fundamental commitment to all of...