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RESEARCH

Commentary

The Costs of Political Misalignment: Forest Fires and Bank Loans in Turkey

Orkun Saka
Recent wildfires in Turkey have not only destroyed more than 95,000 hectares of its coastal forestland but also divided the country further...
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News

How Unusual is the Recent Boom in Profits and Values of US Listed Corporations?

Dmitry Kuvshinov, Kaspar Zimmermann
In the past decades, the US stock market and business profits have been growing much faster than the rest of the economy....
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Coronavirus

The Digital Divide During Epidemics: Who Benefits From New Financial Technologies?

Orkun Saka, Barry Eichengreen, Cevat Giray Aksoy
A new paper finds that exposure to an epidemic in the current year significantly increases the likelihood that an individual completes financial...
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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

A New Antitrust Under Biden? Lessons From the Presidency of Theodore Roosevelt

Richard Baker, Carola Frydman, Eric Hilt
The early history of the Sherman Antitrust Act offers relevant insights to contemporary debates on how to best enforce antitrust laws. In...
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Antitrust and Competition

Who Benefits From Competitive State-Level Legislatures?

Manav Raj
A new paper finds that when interparty competition in state legislatures is high, well-connected and influential incumbent firms are best able to...
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Corporate Governance

No More “Mystery Meat”: Why We Need Better Corporate Governance Data

Jens Frankenreiter, Cathy Hwang, Yaron Nili, Eric Talley
Three decades of finance, economics, and legal studies in corporate governance have been built substantially on data sets with nearly unknown provenance....
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Academic Capture

Iowa’s “Butter-Margarine War”: T. W. Schultz’s Fight for Academic Freedom

David Seim
During the Second World War, economists at Iowa State College published a pamphlet titled “Putting Dairying on a War Footing,” which would...
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Antitrust and Competition

Concentration in the EU: Where It is Increasing and Why

Pauline Affeldt, Tomaso Duso, Klaus Gugler, Joanna Piechucka
Increasing concentration is not unique to the US—recent studies show that concentration is rising in Europe as well, although to a lesser...
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Inequality

Most Americans Consider Themselves Middle-Class. But Are They?

Jeffrey Wenger, Melanie Zaber
There are different ways of determining who should be considered middle-class. But there is one thing they have in common: all reveal...
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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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