News at Smith

Aug 19, 2015

Think of China like Walmart and the country’s recent currency devaluation like a price-slashing sale. “Devaluing your currency is a classic way to undercut competitors on price,” says Kristen Fanarakis, assistant director at the Smith School's Center for Financial Policy. “When you put your currency ‘on sale,’ the products you export become cheaper for other countries to buy."

Aug 14, 2015
World Class Faculty & Research

High-frequency traders provide a useful service but rig the system when they extract tolls from investors, Smith School professor Albert "Pete" Kyle said this week during a financial regulation conference in Australia. "They are like a troll under a bridge who charges travelers something extra when they cross to the other side," Kyle has said. Debate about high-frequency trading heated up prior to the

Aug 14, 2015
World Class Faculty & Research

Can U.S. companies be embarrassed out of paying their CEOs hundreds of times what the average worker makes? The SEC wants to find out. By a 3-2 vote, the agency recently ordered that companies begin disclosing the ratio of their CEO’s pay to that of the median employee. The rule’s backers believe it's indefensible that CEO pay has grown in the last-half century from 50 times what the average worker makes to roughly 300 times, even as

Aug 12, 2015

U.S. oil prices fell to a six-year low on Aug. 11, 2015, driven by China’s currency devaluation. The other major factor, cited by The Wall Street Journal, has been an "unrelenting supply of crude." One person who would not be surprised by the production is the late Smith School economist Julian Simon, who rejected the dire warnings of a population bomb and peak oil in the 1970s. Here are 10 quotes that

Aug 12, 2015

U.S. oil prices fell to a six-year low on Aug. 11, 2015, and one person not surprised would be the late Smith School economist Julian L. Simon. "There is no compelling reason to believe that world oil prices will rise in the coming decades," he wrote in 1984 when most experts predicted overpopulation and depletion of the earth's natural resources. Six of Simon's former colleagues and children share their

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