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Bailout

Bailout

What Comes Next for Economic Policies to Combat Covid-19? A Conversation Between Six Booth Faculty

Stefano Feltri
As the Covid-19 crisis evolves from a temporary shock into what seems like a long-term catastrophe, six finance scholars from Chicago Booth—Douglas...
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Bailout

The Childcare Barriers to Putting America Back to Work

Jonathan Dingel, Christina Patterson, Joseph Vavra
Substantial fractions of the US labor force have children at home and will likely face obstacles in returning to work if childcare...
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Bailout

The Paycheck Protection Program, Meant to Prevent Mass Layoffs, Missed Its Target

Joao Granja, Christos Makridi, Constantine Yannelis, Eric Zwick
A new study shows that CARES Act funds to support small companies and prevent mass layoffs did not flow to areas more...
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Bailout

How to Save 40 percent of the Payroll Protection Program’s Costs

Joost Sijthoff, Roberto Serrano
Thanks to the loan program part of the CARES Act, small businesses can receive up to 2.5 times their monthly payroll, regardless of how much...
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Bailout

The Hidden Risks of Stimulus Packages: Federal Debt Is Not a Problem – Until It Is

Ivo Welch
Most economists agree that some stimulus bill to mitigate the effect of the pandemic was a necessary evil (although they argue about how good the...
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Bailout

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

Efraim Benmelech , Paola Sapienza, Luigi Zingales
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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Antitrust and Competition

The Coronavirus Crisis Has Exposed Private Equity’s Unsustainable Business Model

Matt Stoller
Private equity portfolio companies are heavily indebted, and they aren’t generating enough cash to service debts. The steady increase in asset values...
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Bailout

In Chile, It Is Always the Banks That Decide the Direction of Politics

Daniel Matamala
Chile's government announced it would deliver $24 billion in state-guaranteed loans through the financial system to save companies at risk of bankruptcy due to the...
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Antitrust and Competition

The Cantillon Effect: Why Wall Street Gets a Bailout and You Don’t

Matt Stoller
According to the 18th-century French banker and philosopher Richard Cantillon, who benefits when the state prints money is based on its institutional setup. In...
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Antitrust and Competition

The Populist Right Has a Plan to Take Power Away From Financiers and Challenge China

Matt Stoller
The nationalist rhetoric of the Trump administration can obscure a more sophisticated recognition by some people in the populist world that the core dynamic...
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Economic History Series

The Fall of American Manufacturing and the Rise of Health Care

Gabriel Winant
In an excerpt from his new book The Next Shift, University of Chicago historian Gabriel Winant explores how deindustrialization and the decline...
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Antitrust and Competition

Antitrust and the FTC: Franchise Restraints on Worker Mobility

Herbert Hovenkamp
As currently formulated, antitrust’s rule of reason approach is not the best tool to deal with vertical noncompete agreements that limit worker...
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Antitrust and Competition

How to Make the Market for Real Estate Agents More Competitive

Sophia Gilbukh, Paul Goldsmith-Pinkham, Michael Sinkinson
Delinking buyer and seller commissions will make markets for real estate agent services more competitive, allowing buyers and sellers to negotiate commissions...
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Corporate Governance

Dislocation, Dislocation, Dislocation: Covid, the Retail Crisis, and REITs

Mark Pilkington
In an excerpt from his new book Retail Recovery, retail expert and author Mark Pilkington explores the impact of the sector's decline...
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Corporate Governance

Addressing Climate Change Must Begin with Verifiable Carbon Accounting

Robert Kaplan, Karthik Ramanna
Robert Kaplan and Karthik Ramanna propose a new approach for verifiable accounting on indirect corporate emissions that would apply to all corporations,...
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Antitrust and Competition

The FTC Was Correct to Withdraw the Vertical Merger Guidelines

Steven Salop
The 2020 Vertical Merger Guidelines, now withdrawn by the FTC, did not represent sound merger policy, argues Steven Salop; rather, they were...
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Economic History Series

The Chicago Planning Program and the Interdisciplinary Tradition of the Chicago School

Daniel Kuehn
The Chicago Planning Program, an interdisciplinary program that operated at the University of Chicago between 1947 and 1956, is an often-neglected part...
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.

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