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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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Antitrust and Competition

Beefing Up Merger Enforcement by Banning Merger Remedies

Hal Singer
The unraveling of the T-Mobile/Sprint remedy continues a trend of failed merger consent decrees. One solution, proposed by two antitrust scholars, is...
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News

Reaching for Influence: Do Banks Use Loans to Establish Political Connections?

Mahsa Kaviani, Hosein Maleki, Pavel Savor
A new study examines whether privately-owned banks seek political influence by offering preferred loan terms to corporate borrowers with valuable political connections,...
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Antitrust and Competition

The New Challenges of Assessing Big Tech’s Impact

Michael Gofman, Zhao Jin
Big Tech firms are facing the biggest wave of antitrust legislation in their history. Academic literature reveals the complexity of possible consequences...
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News

The Metaphysics of Regulatory Capture

Karthik Ramanna
Stiglerian capture and corrosive cultural capture, its left-leaning parallel, are ostensibly symbionts, two attempts at identifying impediments to keeping markets competitive by...
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Capitalisn't

The Aristocracy of Talent: Business Intelligence

Adrian Wooldridge
In the following excerpt from his new book, The Aristocracy of Talent: How Meritocracy Made the Modern World, Adrian Wooldridge traces "how universities...
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Antitrust and Competition

Why Privacy Experts Need a Place at the Antitrust Table

Cristina Caffarra, Johnny Ryan
Antitrust enforcers have tended to stay narrowly “in their lane,” failing to engage with how data is collected and used by digital...
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George Stigler

Assessing George Stigler’s Economic Theory of Regulation

Cary Coglianese
Despite its flaws and limitations, Stigler’s seminal article on the theory of economic regulation remains an important piece of scholarship worthy of...
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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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