Efraim Benmelech
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Efraim Benmelech

Henry Bullock Professor of Finance & Real Estate; Director of the Guthrie Center for Real Estate Research; Director of the Crown Family Israel Center for Innovation

Kellogg Faculty Page →

Where Is Commercial Real Estate Headed Next?

Experts discuss the latest trends, from demolishing office space to repurposing malls (again) to riding out the end of the warehouse boom.

Researchers: Efraim Benmelech, Kimberly Adams, Suzanne Martinez and Jay Weaver

Take 5: What We’ve Learned about Tackling Public-Health Crises

Covid-era research sheds light on how policymakers can guide the economy and the public through future emergencies.

Researchers: Scott R. Baker, Efraim Benmelech, Paola Sapienza, Angela Y. Lee, Benjamin F. Jones, Ryan Hill, Dashun Wang and and coauthors

January 21, 2023


Tesla Deserves an A for Its Financial Management

Elon Musk should be commended for being in the position to even think about stock buybacks right now.

Researchers: Efraim Benmelech

November 2, 2022

Finance & Accounting

Unilever Should Divest Ben & Jerry’s

An economist offers his perspective on why the food giant has some big decisions to make in the wake of a court ruling against its ice cream subsidiary.

Researchers: Efraim Benmelech

September 1, 2022

Finance & Accounting

Real Estate Investors See Opportunity, Despite Inflation and Uncertainty

“The pace at which the world is changing in terms of how people use space is extremely exciting.”

Researchers: Kimberly Adams, Seth Singerman and Efraim Benmelech

Did China’s One-Child Policy Prompt Households to Save More?

Researchers investigate whether the lack of a “family safety net” is responsible for China’s singularly high household savings rate.

Researchers: Scott R. Baker, Efraim Benmelech, Zhishu Yang and Qi Jacky Zhang

June 3, 2022


Apple’s Inflation Problem

The company faces a “double whammy” due to its cash hoarding.

Researchers: Efraim Benmelech

What Can We Learn from Amazon’s Stock Split?

We may have to wait and see what this move signals for the tech sector.

Researchers: Efraim Benmelech

March 17, 2022

Finance & Accounting

The Robots Are Not Coming

Those predictions of a robot takeover may not come to fruition.

Researchers: Efraim Benmelech

January 26, 2022


Should Americans Be Worried about Inflation Right Now?

Three economists with opposing views weigh in.

Researchers: Zhengyang Jiang, Nicolas Crouzet and Efraim Benmelech

August 6, 2021


How Green Are Green Bonds?

Large companies issuing green bonds may have more to do with interest rates than altruism.

Researchers: Efraim Benmelech

U.S. Firms Are Investing Heavily in Innovation, Yet Economic Productivity Has Slowed. Why?

The answer may lie in how pharmaceutical companies are targeting their R&D spending.

Researchers: Efraim Benmelech, Janice C. Eberly, Joshua Krieger and Dimitris Papanikolaou

June 1, 2021


Bonds. Corporate Bonds.

Corporate bond markets have proven remarkably resilient during the pandemic—and companies with strong credit are poised to benefit.

Researchers: Efraim Benmelech

April 26, 2021

Finance & Accounting

Is Pfizer’s COVID-19 Vaccine the Next Blockbuster Drug?

Investors are keeping a close eye on the drug firm’s vaccine advances. But the company’s longer-term fortunes may lie elsewhere.

Researchers: Efraim Benmelech

November 23, 2020


One Key Trait That Predicts How Much People Will Socially Distance

This new research could help policymakers deliver more effective COVID-safety messaging.

Researchers: John Barrios, Efraim Benmelech, Yael V Hochberg, Paola Sapienza and Luigi Zingales

November 4, 2020


Airlines and COVID-19: The Turbulence Ahead

With demand still down and debts mounting, the industry looks ahead.

Researchers: Efraim Benmelech

October 30, 2020

Finance & Accounting

Tesla’s Stock Offering: Not Their First nor Their Last

Here’s why they’re at it again.

Researchers: Efraim Benmelech

October 2, 2020

Finance & Accounting

How Credit Ratings Are Shaping Governments’ Responses to Covid-19

To fund pandemic-related spending, governments around the world will need to take on more debt. If they can.

Researchers: Efraim Benmelech

September 2, 2020

Finance & Accounting

How to Secure Credit During a Financial Crisis

The key? Don’t tap your best collateral in good times.

Researchers: Efraim Benmelech

What’s Causing Wage Stagnation in America?

Previous explanations pointed to globalization and automation. But research shows that employer concentration is also to blame.

Researchers: Efraim Benmelech, Nittai K. Bergman and Hyunseob Kim

December 2, 2019


Take 5: What Business Leaders Can Learn from the Military

Army colonels share advice on recruiting millennials, managing up, and keeping the broader mission in mind.

Researchers: Efraim Benmelech, Carola Frydman, Col. Robert Carr, Col. Brian Halloran, Michael Musso, William "Chip" Horn and Dan Friend

September 5, 2019


Take 5: Tips for Widening—and Improving—Your Candidate Pool

Common biases can cause companies to overlook a wealth of top talent.

Researchers: Lauren Rivera, Paola Sapienza, J. Keith Murnighan, Michael J. Mazzeo, Efraim Benmelech, Carola Frydman and Nicola Persico

September 7, 2018


Podcast: What Veterans Can Bring to Your Organization

A discussion of how former soldiers make loyal employees and trustworthy CEOs.

Researchers: Efraim Benmelech, Carola Frydman and Dan Friend

August 3, 2018


To Stop ISIS Recruitment in Western Countries, Promote Assimilation

An outsized number of radicalized recruits come from prosperous, egalitarian nations where Muslims feel isolated.

Researchers: Efraim Benmelech and Esteban Klor

March 8, 2017

Social Impact

Why Did Car Sales Drop So Dramatically During the Financial Crisis?

Even willing buyers were affected by a credit freeze.

Researchers: Efraim Benmelech, Ralf R. Meisenzahl and Rodney Ramcharan

How Malls Die—and How Your Business Could Be Next

When retail-store locations go under, they drag nearby stores down too.

Researchers: Efraim Benmelech, Nittai K. Bergman, Anna Milanez and Vladimir Mukharlyamov

October 6, 2014

Finance & Accounting

Do Former Soldiers Make Better CEOs?

Chief executives with military experience perform better under pressure and are much less likely to commit corporate fraud

Researchers: Efraim Benmelech and Carola Frydman

February 3, 2014


How Bankruptcy Spreads

The bankruptcy of a single airline can reduce collateral values industry-wide

Researchers: Efraim Benmelech and Nittai K. Bergman

January 2, 2013

Finance & Accounting