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Program Directors

Schoar Headshot

Antoinette Schoar is the Michael M. Koerner (1949) Professor of Finance and Entrepreneurship at the MIT Sloan School of Management. Her research includes entrepreneurship and small business finance, household finance, and intermediation in retail financial markets. She has been an NBER affiliate since 2001.

Sufi headshot

Amir Sufi is the Bruce Lindsay Professor of Economics and Public Policy at the University of Chicago Booth School of Business. His research focuses on finance, macroeconomics, and the links between the two. He has been an NBER affiliate since 2009.

Featured Program Content

 The figure is a dual-axis line chart titled, "Share of US Firms' Labor Costs Associated with Regulatory Compliance."  The left hand axis plots the researchers' conservative regulatory cost index, and the right hand axis charts their broad regulatory cost index. The x-axis ranges from 2002 to 2014.   The conservative index increases from about 1.48 percent in 2002 to 1.58 percent in 2014. The broad index increases from about 3.54 percent in 2002 to just below 3.84 percent in 2014.   Note: The conservative r
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The average US firm spends between 1.3 and 3.3 percent of its total wage bill on regulatory compliance, estimate Francesco Trebbi and Miao Ben...
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Unicorns — startup businesses that are valued at at least $1 billion before going public — essentially did not exist before the 2000s. Their numbers have...
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Privately owned and operated airports are prominent examples of companies running traditionally public infrastructure. As of 2020, nearly 20 percent of...
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