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At the Forefront of Their Fields

At Columbia Business School, our faculty members are at the forefront of research in their respective fields, offering innovative ideas that directly impact the practice of business today. A quick glance at our publication on faculty research, CBS Insights, will give you a sense of the breadth and immediacy of the insight our professors provide.

As a student at the School, this will greatly enrich your education. In Columbia classrooms, you are at the cutting-edge of industry, studying the practices that others will later adopt and teach. As any business leader will tell you, in a competitive environment, being first puts you at a distinct advantage over your peers. Learn economic development from Ray Fisman, the Lambert Family Professor of Social Enterprise and a rising star in the field, or real estate from Chris Mayer, the Paul Milstein Professor of Real Estate, a renowned expert and frequent commentator on complex housing issues. This way, when you complete your degree, you'll be set up to succeed.

The Columbia Advantage

Columbia Business School in conjunction with the Office of the Dean provides its faculty, PhD students, and other research staff with resources and cutting edge tools and technology to help push the boundaries of business research.

Specifically, our goal is to seamlessly help faculty set up and execute their research programs. This includes, but is not limited to:

  • Highly skilled staff of full-time predoctoral fellows, summer research interns, and part-time research assistants
  • Access to centralized funding from the Dean's office and external grants to support research activities
  • Providing a state-of-the-art high-performance grid computing environment
  • Acquisition of proprietary data sets and access to various databases
  • Leading library which provides faculty with latest tools and techniques to enable digital scholarship

All these activities help to facilitate and streamline faculty research, and that of the doctoral students working with them.

 

Research at CBS

Filters
Type
Working Paper
Date

An interpersonal, attributional perspective on first offers in negotiations

Author
Loschelder, D., A. Lee, M.F. Mason, Daniel Ames, and A. Galinsky
Type
Working Paper
Date

Diversity isn’t what it used to be: The consequences of the broadening of diversity

Author
Akinola, Modupe, T Opie, G Ho, S Castel, M. Unzueta, and A Brief
Type
Working Paper
Date

Downstream Effects of Evaluator Placement

Author
Abraham, Mabel, Tristan Botelho, and C. Carter
Type
Working Paper
Date

Local Growth Policy and Dynamic Misallocation

Author

Many state and local governments incentivize new business creation. I analyze local growth policy in a setting where firm entry and expansion choices exhibit local complementarities, creating dynamic misallocation at the aggregate level. Optimal entry subsidies would speed the transition of Rust-belt workers to the South and Mountain West by an extra 10 million people by 2035, raising real incomes by 4%. Actual subsidies substantially worsen misallocation, lowering welfare by 3%, 6 times the size of the subsidies themselves.

Type
Working Paper
Date

Multinational Corporation and Stakeholders

Author
Yue, Lori, Kaixian Mao, and Huidi Lu
Type
Working Paper
Date

Understanding the Labor Market for Entrepreneurs

Author
Abraham, Mabel and Tristan Botelho
Type
Journal Article
Date

Mitigating Disaster Risks in The Age Of Climate Change

Author
Hong, Harrison, Jinqiang Yang, and Neng Wang

Emissions abatement alone cannot address the consequences of global warming for weather disasters. We model how society adapts to manage disaster risks to capital stock. Optimal adaptation — a mix of firm-level efforts and public spending — varies as society learns about the adverse consequences of global warming for disaster arrivals. Taxes on capital are needed alongside those on carbon to achieve the first best.

Type
Working Paper
Date

Central Bank Credibility and Fiscal Responsibility

Author
Schreger, Jesse, Pierre Yared, and Emilio Emilio Zaratiegui

We consider a New Keynesian model with strategic monetary and fiscal interactions. The fiscal authority maximizes social welfare. Monetary policy is delegated to a central bank with an anti-inflation bias that suffers from a lack of commitment. The impact of central bank hawkishness on debt issuance is non-monotonic because increased hawkishness reduces the benefit from fiscal stimulus while simultaneously increasing real debt capacity.

Type
Working Paper
Date

Monetary Policy without Commitment

Author
Afrouzi, Hassan, Marina Halac, Kenneth Rogoff, and Pierre Yared

This paper studies the implications of central bank credibility for long-run inflation and inflation dynamics. We introduce central bank lack of commitment into a standard non-linear New Keynesian economy with sticky-price monopolistically competitive firms.Inflation is driven by the interaction of lack of commitment and the economic environment. We show that long-run inflation increases following an unanticipated permanent increase in the labor wedge or decrease in the elasticity of substitution across varieties. In the transition, inflation overshoots and then gradually declines.

Type
Working Paper
Date

A Theory of Fiscal Responsibility and Irresponsibility

Author
Halac, Marina and Pierre Yared

We propose a political economy mechanism that explains the presence of fiscal regimes punctuated by crisis periods. Our model focuses on the interaction between successive deficit-biased governments subject to i.i.d. fiscal shocks. We show that the economy transitions between a fiscally responsible regime and a fiscally irresponsible regime, with transitions occurring during crises when fiscal needs are large. Under fiscal responsibility, governments limit their spending to avoid transitioning to fiscal irresponsibility.

Type
Working Paper
Date

Valuing Financial Data

Author
Farboodi, Maryam, Dhruv Singal, Laura Veldkamp, and Venky Venkateswaran

How should an investor value financial data? The answer is complicated because it depends on the characteristics of all investors. We develop a sufficient statistics approach that uses equilibrium asset return moments to summarize all relevant information about others’ characteristics. It can value data that is public or  private, about one or many assets, relevant for dividends or for sentiment. While different data types, of course, have different valuations, heterogeneous investors also value the same data very differently, which suggests a low price elasticity for data demand.

Type
Working Paper
Date

Test-Optional Admissions

Author
Dessein, Wouter, Alex Frankel, and Navin Kartik

The Covid-19 pandemic has accelerated the trend of many colleges moving to testoptional, and in some cases test-blind, admissions policies. A frequent claim is that by not seeing standardized test scores, a college is able to admit a student body that it prefers, such as one with more diversity. But how can observing less information allow a college to improve its decisions? We argue that test-optional policies may be driven by social pressure on colleges’ admission decisions.