Steven J. Davis is an applied economist with research publications on employment and wage behavior, worker mobility, job loss, the effects of labor market institutions, business dynamics, industrial organization, economic fluctuations, national economic performance, public policy and other topics. In addition to a basic understanding of the big macroeconomic issues, Davis hopes his students learn "an informed skepticism about data and economic argumentation and an analytical approach that they can apply to business and economic problems in their careers."
Davis is former Editor of the American Economic Journal: Macroeconomics. He is also a research associate with the National Bureau of Economic Research, an economic adviser to the U.S. Congressional Budget Office, a visiting scholar at the Federal Reserve Bank of Philadelphia, and a non-resident visiting scholar at the American Enterprise Institute. Previously, he held positions at the National University of Singapore, Massachusetts Institute of Technology, the Milken Institute for Job and Capital Formation, the Federal Reserve Bank of Chicago, and the Hoover Institution at Stanford University. During a leave of absence, he was vice president in the Competition Practice at CRA International, an economics consulting firm. "This practical experience taught me that there is a market for analytical thinking skills, the hallmark of a Chicago Booth education," he said.
His research has been supported by grants from the Kauffman Foundation, the World Economic Forum, the Marianne and Marcus Wallenberg Foundation, the U.S. National Science Foundation, the U.S. Department of Energy, the U.S. Department of Labor, and several other organizations.
In addition to publication in numerous academic journals, Davis has published in the Chicago Tribune, Financial Times, Los Angeles Times, Wall Street Journal and other popular media. He has made television appearances on CNBC, Fox News Channel, NBC News, and PBS, among others. He has also appeared on various radio shows.
As a young man interested in economic, political, and social issues, Davis concluded that economics offered a powerful set of tools for understanding economic and social behavior. He pursued graduate studies in economics with the intention of "learning how to think." Davis earned a bachelor's degree in economics from Portland State University in Oregon in 1980, and a master's degree in 1981 and a PhD in 1986, both in economics from Brown University. He joined the Chicago Booth faculty in 1985.
"Political gridlock, the economy, and your portfolio: Analyzing the damaging effects of government-related uncertainty". Capital Ideas, 18 September 2014.
"Millions of job openings, so why aren’t companies hiring?" , Yahoo Finance, 04 September 2014.
"Global financial shocks: What can emerging economies do?" Capital Ideas, 02 September 2014.
"The price of policy uncertainty" by Robin Mordfin Capital Ideas, 02 September 2014.
"Labor Market Fluidity and Economic Performance" , With John Haltiwanger. 01 September 2014.
"Recruitment and Vacancy Durations in Germany" . With Christof Röttger, Anja Warning (née Kettner) and Enzo Weber, Regensburger Diskussionsbeiträge zur Wirtschaftswissenschaft 481. June 2014.
"Why Has US Policy Uncertainty Risen Since 1960?" , With Scott R. Baker, Nicholas Bloom, Brandice Canes-Wrone, and Jonathan Rodden. NBER Working Paper #19826. American Economic Review Papers and Proceedings, May 2014.
"The Economics of Climate Change: Cocktails and Conversation with William Nordhaus". University Club, Chicago, 16 April 2014.
"Private Equity, Jobs, and Productivity". With John Haltiwanger, Ron Jarmin, Josh Lerner and Javier Miranda. NBER Working paper No. 19458, Forthcoming, American Economic Review, Revised April 2014. Slides. Data and Program Files.
Improving Productivity: Private, Social and Public Sector Perspectives, Delhi, India March 2014.Slides.
"Policy Uncertainty Matters" , Capital Ideas Magazine, 1 December 2013.
"Electricity Unit Value Prices and Purchase Quantities: U.S. Manufacturing Plants, 1963-2000". With Cheryl Grim, John Haltiwanger and Mary Streitwieser. Review of Economics and Statistics, 01 October 2013. Supplementary Appendix.
"Occupation-Level Income Shocks and Asset Returns: Their Covariance and Implications for Portfolio Choice". With Paul Willen. Quarterly Journal of Finance, September 2013.NBER Working Paper version available here.
Comments on "Gross Worker Flows Over the Business Cycle". With Krusell, Mukoyama, Rogerson and Sahin. 13 September 2013.Slides.
"Straw Man Bites the Dust: A Response to Paul Krugman on Policy Uncertainty". Capital Ideas Blog, 12 August 2013.
- Average Vacancy Duration Jumps to 26.5 Working Days, October 2014
- Recruiting Intensity Continues a Slow Recovery, 9 September 2014
- Average Job Vacancy Duration is 25 Working Days, 12 August 2014
- Job Vacancy Durations Climb to Another New Peak, 8 July 2014
- Job Vacancy Durations Climb to New Peak, June 2014
- Job Vacancy Durations Remain Near Peak Levels, May 2014
- “Inaugural Asian Monetary Policy Forum,” Capital Ideas Blog, 24 May 2014
- "Failure to Be Boring," Capital Ideas Blog, 26 May 2014
- "Securing Financial Stability: What Role for Monetary Policy?" Capital Ideas Blog, 27 May 2014
- "Securing Financial Stability: Macroprudential Policy," Capital Ideas Blog, 8 June 2014
- "Living with Financial Globalization: Interest-Rate Linkages," Capital Ideas Blog, 23 June 2014
- "Living with Financial Globalization: Monetary Policy Spillovers," Capital Ideas Blog, 24 June 2014
- "Living with Financial Globalization: Capital Flows," Capital Ideas Blog, 7 July 2014