Leadership

The following members of the Chicago Booth faculty serve on the executive board of the Initiative on Global Markets (IGM).

The composition of the executive board reflects that a comprehensive approach to these issues must combine research done by accountants, micro, macro, and financial economists.

Executive Director

Brian Barry

Brian Barry is a clinical professor of economics. The IGM looks broadly at global movements of capital, products and talent in the modern economy, by examining how these markets work, their effects, and the way they interact with policies and institutions.

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Barry was a journalist for The Economist from 1994 to 2007, acting as a US correspondent, Tokyo bureau chief, Southeast Asia correspondent, management correspondent in London, and finance-and-economics correspondent in Washington. As a US correspondent, he traveled broadly across the American interior, writing about politics, business, and economic and social trends.

Barry attended Swarthmore College, where he earned a bachelor's degree in economics with a minor in political science and graduated with honors in 1989. He earned a master of science degree from the University of Rochester's Simon School of Business in 1994, where he also received a National Doctoral Fellowship.

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Co-Directors

Christian Leuz

Christian Leuz is Joseph Sondheimer Professor of International Economics, Finance, and Accounting at the University of Chicago Booth School of Business.

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He is also a co-director of the Initiative on Global Markets, a research associate at the National Bureau of Economic Research and at the European Corporate Governance Institute and a fellow at Wharton's Financial Institution Center, Goethe Universität Frankfurt's Center for Financial Studies, and the CESifo Research Network.

His research examines the role of corporate disclosures, accounting transparency, and disclosure regulation in capital markets, corporate governance, and corporate financing. His work has been published among others in the Journal of Accounting Research, Journal of Accounting & Economics, Journal of Financial Economics, and the Review of Financial Studies.

He has received several awards and honors, including an Humboldt Research Award, the 2011 Wildman Medal Award, the 2010 Notable Contribution to the Accounting Literature Award as well as a JFE All Star Paper Award. Leuz is an editor for the Journal of Accounting Research and has served on many editorial boards, including the Journal of Accounting & Economics, The Accounting Review, the Journal of Business, Finance and Accounting, and the Review of Accounting Studies.

Born in Germany, Leuz earned his doctoral degree and "Habilitation" at the Goethe University Frankfurt in Germany. Prior to this position, he was the Harold Stott Term Assistant Professor in Accounting at the Wharton School of the University of Pennsylvania and a visiting doctoral fellow at the Simon School of Business, University of Rochester.

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Amir Sufi

Amir Sufi is Bruce Lindsay Professor of Economics and Public Policy at the University of Chicago Booth School of Business. He is also a Research Associate at the National Bureau of Economic Research.

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He serves as an associate editor for the American Economic Review and the Quarterly Journal of Economics. Professor Sufi was awarded the 2017 Fischer Black Prize by the American Finance Association, given biennially to the top financial economics scholar under the age of 40.

Sufi’s research focuses on finance and macroeconomics. His recent research on household debt and the economy forms the basis of his book co-authored with Atif Mian: House of Debt: How They (and You) Caused the Great Recession and How We Can Prevent It from Happening Again, which was published by the University of Chicago Press in 2014. He earned a PhD in economics from the Massachusetts Institute of Technology, where he was awarded the Solow Endowment Prize for Graduate Student Excellence in Teaching and Research. He joined the Chicago Booth faculty in 2005.

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Executive Board

Eric Budish

Eric Budish is a professor of economics at the University of Chicago, Booth School of Business. Budish's research has spanned a wide variety of market design contexts, including the design of financial exchanges, markets for scheduling students to courses and workers to shifts, patent design and R&D incentives, and internet auctions.

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Budish's best known work, on the design of financial exchanges, shows that the high-frequency trading arms race is actually just a symptom of an underlying market design flaw, and proposes a new market design called frequent batch auctions that directly solves the problem. This work was recognized with the 2014 AQR Insight Award and the 2015 Utah WFC best paper award, and has been presented to major exchanges, high-frequency trading firms, broker-dealers, investors, and regulators.

SEC Chair Mary Jo White and New York AG Eric Schneiderman discussed Budish's design proposal in major policy speeches. Budish's dissertation research concerned the matching problem of assigning students to schedules of courses, or workers to schedules of shifts. Budish's proposed design, which applies price-theoretic competitive equilibrium ideas to a matching market, was recently adopted for use in practice by the Wharton School for MBA course allocation. Budish's research on patent design, together with a health economist and patent scholar, shows that the patent system inadvertently under-incentivizes long horizon R&D for cancer drugs, and won the 2013 Kauffman/iHEA Award for Health Care Entrepreneurship and Innovation Research.

Budish received his PhD in Business Economics from Harvard University before joining Chicago Booth in 2009. He received a BA in Economics and Philosophy from Amherst College and an M.Phil. in Economics from Oxford (Nuffield College), where he was a Marshall Scholar. 

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Anil Kashyap

Anil Kashyap is the Edward Eagle Brown Professor of Economics and Finance at the University of Chicago’s Booth School of Business and an external member of the Bank of England’s Financial Policy Committee.

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His research focuses on financial intermediation and regulation, the Japanese economy, price setting, and monetary policy. He co-founded the U.S. Monetary Policy Forum, serves as a consultant for the Federal Reserve Bank of Chicago, a research associate for the National Bureau of Economic Research and is on the board of directors of the Bank of Italy’s Einuadi Institute of Economics and Finance.

Kashyap is also one of the academic members of the Bellagio Group (whose non-academic members include the Deputy Central Bank Governors and Vice Ministers of Finance of the G7 countries). This experience, along with his research and other consulting and advising to central banks and finance ministries around the world, has helped him create two unique elective courses: “Understanding Central Banks” and “The Analytics of Financial Crises.” He received his Bachelor’s degree from the University of California at Davis and his PhD in economics from the Massachusetts Institute of Technology.

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News & Announcements

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Chicago Booth faculty discuss the Brexit situation and what it means for Europe and the World.

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