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Economists are always talking about The Pie – how it grows and shrinks, how it’s sliced, and who gets the biggest shares. Join host Tess Vigeland as she talks with leading economists from the University of Chicago about their cutting-edge research and key events of the day. Hear how the economic pie is at the heart of issues like the aftermath of a global pandemic, jobs, energy policy, and more.
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The Becker Friedman Institute for Economics at the University of Chicago (BFI) serves as a hub for cutting-edge analysis and research across the entire UChicago economics community to uncover new ways of thinking about the field. Featuring conversations and lectures from premier BFI events, this podcast explores the latest economic insights and trends from leading voices in policy, business, the media, and academia, revealing how rigorous thinking shapes our understanding of the world.
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Understanding the Fed: How Perception Drives Market Reactions
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The Federal Reserve responded to COVID-era inflation with the fastest increase in the federal funds rate in 40 years. Importantly, the effectiveness of their response depends on how the public perceived it. In this episode of The Pie, Carolin Pflueger, Associate Professor at the Harris School of Public Policy, covers her recent talk to the Federal …
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Promises Delivered? The Economic Effects of the 2017 Tax Cuts and Jobs Act
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The Tax Cuts and Jobs Act of 2017, a landmark piece of tax legislation from the first year of the Trump administration, overhauled the tax code for both individuals and businesses. In this episode of The Pie, Eric Zwick, Professor of Economics and Finance at the UChicago's Booth School of Business, discusses how the overhaul affected the economy, i…
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Creative Destruction: Why Innovation is Crucial for Growth
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The primary contributor to long-run growth is productivity: A country’s ability to raise residents’ standards of living depends on its ability to boost workers’ output. In this episode of The Pie, Ufuk Akcigit, The Arnold C. Harberger Professor in Economics and the College, describes his research on growth through technological progress.…
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Using Machine Learning to Predict—and Prevent—Police Misconduct
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In the wake of numerous high-profile incidents of police use of force, particularly against Black Americans, law enforcement agencies across the United States are confronting issues of officer misconduct. Whether such misconduct is preventable depends in part on whether it is predictable. In this episode of The Pie, Greg Stoddard, Senior Research D…
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What Went Wrong With Federal Student Loans?
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The United States is in the midst of a student loan crisis, with over 45 million borrowers owing more than $1.6 trillion in federal dollars. On this episode of The Pie, Constantine Yannelis, Associate Professor of Finance at the Booth School of Business, argues that federal policy is to blame: Decades of regulation and de-regulation have given way …
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How can we incentivize the private and public sectors to develop and deploy solutions to climate change, while accounting for uncertainties? This episode of The Pie covers a panel discussion among professors David Keith of the Department of the Geophysical Sciences at UChicago and founding faculty director of the university’s Climate Systems Engine…
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Using Cellphone Data to Observe Religious Worship in the United States
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What do location data from roughly 2.1 million cellphones say about religiosity in the United States? In this episode of The Pie, Devin Pope, Professor of Economics and Behavioral Science at the Booth School of Business, paints a new picture of who goes to church, how often, and the other types of activities they do (or don’t) partake in.…
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India’s government has big goals for economic growth. The former Governor of the country’s Reserve Bank, Raghuram Rajan, argues that India won't be able (and shouldn't try) to follow traditional methods of development. Professor Rajan, now of the the Chicago Booth School of Business, joins The Pie to discuss India’s untraveled path to prosperity.…
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ChatGPT: Who’s Adopting, Who’s Abstaining, and Why?
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A year-and-a-half after its launch, half of workers report having used ChatGPT on the job. On this episode of The Pie, Anders Humlum, Assistant Professor at the Chicago Booth School of Business, shares results from a recent, large-scale survey profiling the workers who are leading the generative AI curve.…
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Is College Worth It? Measuring the Returns to Higher Education
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College graduates earn more than those who didn’t attend college. Does this mean higher education boosts your income? Or, does college simply attract students who would’ve earned more anyway? Jack Mountjoy, an economist at the University of Chicago Booth School of Business, discusses his research on the returns to higher education.…
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Fighting Traffic in Chicago: Lower Fares, More Trains, Fewer Buses
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American cities are overreliant on cars. Policies for reducing this gridlock and pollution range from changing public transit fares or frequencies to introducing new tolls. In this episode of The Pie, Milena Almagro, Assistant Professor of Economics at Chicago Booth, shares her research showing the optimal mix of these policies for cities dealing w…
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Which Companies Discriminate Most? Experimental Evidence on Callback Rates by Applicant Race and Gender
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A small number of companies are responsible for a substantial amount of the discrimination in today’s labor market. Who are they? In this episode of The Pie, Evan Rose, the Neubauer Family Assistant Professor in Economics discusses results from his recent experiment to measure discrimination among the largest employers in the United States.…
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Recessions: What Are They Good For? Possibly Your Health
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When the Great Recession hit in 2007, it produced the largest decline in US employment since the Great Depression. It also substantially reduced mortality. In this episode of The Pie, Matt Notowidigdo discusses how economic downturns can lead to valuable health gains that may even offset some of the negative consequences of recessions.…
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Knowing When to Stop: The Unintended Consequences of Monetary Policy
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This episode of The Pie features a panel discussion following a talk from Raghuram Rajan, the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth, about his book "Monetary Policy and Its Unintended Consequences." The panel included Charles Evans, former president of the Federal Reserve Bank of Chicago, and was moderat…
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From Authoritarianism to Democracy: The Political Economy of Latin America
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Anti-democratic sentiment is on the rise across Latin America. This episode of The Pie explores the evolving political and economic landscape of Latin America, highlighting the region's experimentation with democratization and the growing threats of authoritarianism. Luis Martinez, Assistant Professor at the Harris School of Public Policy, discusse…
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Closing the Achievement Gap: Is There an App for That?
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Children whose parents have college degrees are often more skilled readers than children whose parents didn't attend college. In this episode of The Pie, Harris Policy Professor Ariel Kalil discusses how certain technologies can help improve literacy skills for disadvantaged children.By Becker Friedman Institute at UChicago
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Two Economies, Two Years of War: An Update on Economic Conditions in Russia and Ukraine
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Russian-born economist Konstantin Sonin, Professor at the University of Chicago Harris School of Public Policy, joins The Pie to provide an update on the economic impacts of the ongoing conflict between Russia and Ukraine. Sonin discusses how the war affects standards of living and output in both countries, and shares his predictions for what the f…
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Conflict-Free or Conflict Displaced? Mine Certifications and Conflict in the Congo
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Many mines in the eastern Democratic Republic of the Congo are controlled by armed groups that frequently engage in conflict with nearby civilians. In this episode of The Pie, Hans Christensen, Professor of Accounting at Chicago Booth, and Samuel Chang, PhD student in Accounting, discuss what happens when mines become certified as conflict-free. Hi…
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Tearing Down Healthcare to Rebuild it for Everyone: A Panel on the Economics of Insurance Reform
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Most observers are convinced that America’s healthcare system needs reform. This episode of The Pie features a discussion among MIT health economist Amy Finkelstein, former commissioner of the US Food and Drug Administration and current Duke professor Mark McClellan, and professor at the Harris School Joshua Gottlieb on what these reforms should en…
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12 Months of Economics: Vultures, ChatGPT, Student Loans, and the Social Safety Net
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What happens to humans when vultures go extinct? Why did the student loan pause increase debt? Plus, do government benefits change how parents invest in their kids? To wrap up 2023, Tess Vigeland reviews some of the economic research we've featured on the show throughout the year. Plus, a word from the UChicago team behind The Pie.…
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Women who have unplanned births experience earnings losses of up to 25%, while planned births reduce earnings by roughly 15%. Yana Gallen, Assistant Professor at the Harris School of Public Policy, joins The Pie to discuss her research on how pregnancy timing impacts women's careers.By Becker Friedman Institute at UChicago
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Would you rather keep things as is, or, remove yourself and all your friends from social media? You aren’t alone if you chose the latter. Recent research from UChicago economist Leo Bursztyn ushers new survey evidence to show how fear of missing out keeps some users online. Learn more on The Pie.By Becker Friedman Institute at UChicago
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The New Normal: Working from Home in 2023
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Roughly a quarter of all paid workdays are now done from home, up from 7% in 2019. How did this shift unfold across different areas, industries, and worker demographics? Steven Davis, Professor Emeritus at Chicago Booth and work-from-home expert, joins The Pie to share his research.By Becker Friedman Institute at UChicago
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The Price of Crime: What Time Behind Bars Does to Earning Potential on Release
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The United States imprisons its population at a rate that is on par with North Korea. In this episode, Evan Rose of the Kenneth C. Griffin Department of Economics discusses what happens when this massive subset of individuals rejoins the labor force. Hint: It’s not what you might expect.By Becker Friedman Institute at UChicago
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Restorative Justice: What Happened When Chicago Public Schools Replaced Suspensions with Restitution?
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The rate of school suspensions has more than doubled for Black and Latino children since 1974, inspiring a small but growing movement aimed at finding new disciplinary solutions that deter undesirable behavior without imparting harm. Harris Policy's Anjali Adukia joins The Pie to discuss her partnership with Chicago Public Schools, and what happene…
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