Gregor Schubert
Gregor Schubert is an Assistant Professor of Finance at the UCLA Anderson School of Management, which he joined after graduating with a Ph.D. in Business Economics from Harvard University in 2021. His research focuses on how urban migration networks affect housing markets, and on how firms are impacted by worker mobility across occupations and local labor markets.
Antitrust and Competition
Antitrust Should Be Used as a Targeted Response to Employer Concentration, But It Can’t Do Everything
A large and growing body of research demonstrates that employer concentration affects the wages of many American workers. Antitrust is an important...
Latest news
Income Inequality
Uninhibited Campaign Donations Risks Creating Oligarchy
In new research, Valentino Larcinese and Alberto Parmigiani find that the 1986 Reagan tax cuts led to greater campaign spending from wealthy individuals, who benefited the most from this policy. The authors argue that a very permissive system of political finance, combined with the erosion of tax progressivity, created the conditions for the mutual reinforcement of economic and political disparities. The result was an inequality spiral hardly compatible with democratic ideals.
ESG, Corporate Governance & Future of the Firm
Did the Meme Stock Revolution Actually Change Anything?
Many financial commentators thought that the surge of retail investors participating in the stock market, the most notable of whom boosted “meme stocks” like GameStop, would democratize corporate governance and improve prosocial firm behavior, including the promotion of environmental, social, and governance (ESG) goals. In new research, Dhruv Aggarwal, Albert H. Choi, and Yoon-Ho Alex Lee find evidence that the exact opposite took place.
Antitrust and Competition
The Kroger-Albertsons Merger Will Not Help Grocery Competition
Kroger and Albertsons say they need to merge to compete with Walmart. Claire Kelloway argues that what they really want is Walmart’s monopsony power, and permitting mergers on these grounds will only harm suppliers, workers, and consumers.
Research
Innovators Respond to Their Presidential Candidate Winning With More Innovation
Does an inventor’s political identity influence their productivity? In a new paper, Joseph Engelberg, Runjing Lu, William Mullins, and Richard Townsend examine the impacts of the 2008 and 2016 United States presidential elections on Democrat and Republican inventors, with a particular focus on the quantity and quality of patents after the country elects a new president.
Antitrust and Competition
Letter to the Editor: Former FTC and DOJ Chief Economists Urge Separation of Economic and Legal Analysis in Merger Guidelines
Seventeen former chief economists of the Federal Trade Commission and the Department of Justice Antitrust Division urge current Agency heads to separate the legal and economic analysis in the draft Merger Guidelines to strengthen the role of the latter in merger review.
Antitrust and Competition
Why the Kroger-Albertsons Merger Is a Mess for Consumers
Grocers Kroger and Albertsons want to merge, which would make them the second biggest retail food chain and, according to them, enhance their ability to compete with Walmart and Costco and offer lower prices to consumers. Christine P. Bartholomew writes that the promises of more competition and lower prices for consumers are unlikely to manifest, and thus the Federal Trade Commission should block the deal.
Book Excerpts
After Neoliberalism
The following is an excerpt from Martin Daunton's new book, "The Economic Government of the World: 1933-2023," out November 14.
