Contribution to Policy
"Opening up Military Innovation: Causal Effects of ‘Bottom-Up’ Reforms to U.S. Defense Research " With Jason Rathje, John Van Reenen and Jun Wong. 2021.
Sabrina T. Howell
O'Keefe, Kate. 2022. U.S. Small-Business Programs’ Future Is Clouded by Congressional Fight. The Wall Street Journal. July 7.
"When Investor Incentives and Consumer Interests Diverge: Private Equity in Higher Education." With Charlie Eaton and Constantine Yannelis. 2020. The Review of Financial Studies 33 (9).
“Financing Innovation: Evidence from R&D Grants.” 2017. The American Economic Review 107 (4).
Cumming, Chris. 2019. Warren Probes Apollo and KKR on Backing For-Profit Colleges. The Wall Street Journal.
Scigliuzzo, Davide. 2019. Everything is Private Equity Now. Bloomberg Businessweek.
Senator Elizabeth Warren letter requesting information from six private equity firms about their investments in for-profit education. (Summary on Warren website here.) 2019.
Berman, Jillian. 2018. "When private equity firms buy colleges, students often pay more."
Segal, Julie. 2018. "When Private Equity Wins and Consumers Lose." The Institutional Investor.
July 2022: Paper on AF SBIR program extensively cited in GAO report and discussed in Senate Small Business Committee
February 2022: Presented on private equity in healthcare to Administrator of the Centers for Medicare & Medicaid Services.
March 2021: Testimony on the role of private equity in healthcare before the U.S. House of Representatives Ways & Means Oversight Subcommittee.
U.S. Department of Energy. 2019. "Benefits of EERE Small Business Innovation Grants Confirmed in New Study." May 3.
Council on Foreign Relations. 2015. "Keeping the Edge: U.S. Innovation." Report.
Smith, Noah. 2015. "Angel Investing, Government Style." Bloomberg. July 9.
Pethokoukis, James. 2015. "Uncle Sam, angel investor?" AEIdeas, July 15.
Davis, Lucas. 2015. "How Should We Design Government Policies to Stimulate Innovation?" Haas Energy Institute. March 23.
Gill, Dee. 2015. "Small, Early Stage R&D Grants to Energy Startups have Large Impact." Chicago Booth Daily Data. February 2.
Howell, Sabrina. 2014. "The Impact of Government Grants in the Clean Energy Sector." Cleantech Group. January 9.
Press Coverage (by Paper)
"Racial Disparities in Access to Small Business Credit: Evidence from the Paycheck Protection Program." 2021. With Theresa Kuchler, David Snitkof, Johannes Stroebel, and Jun Wong. Research Note.
Cowley, Stacy. 2021. "Racial Bias Skewed Small-Business Relief Lending, Study Says." The New York Times.
Foster Frau, Sophia. 2021. "Racial bias affected Black-owned small businesses seeking pandemic relief loans, study finds." The Washington Post.
Hoff, Madison. 2021. "Fintechs helped Black-owned small businesses get access to PPP loans during the pandemic more than banks did. It's weird." Business Insider.
McGirt, Ellen and Jonathan Vanian. 2021. "Researchers: A.I. can play a role in eliminating bias in lending, but only with human help." Fortune.
Barcena, Lorena et al. 2021. "Hutchins Roundup." Brookings Institution.
Hrushka, Anna. 2021. "Automation helped Black borrowers get more out of PPP at fintechs, big banks: study." BankingDive.
"Local Journalism under Private Equity Ownership." With Michael Ewens and Arpit Gupta. 2022.
Dudley, Briar. 2022. "Study: Private equity firms buying newspapers cut local news." The Seattle Times.
Jackson, Rebecca. 2022. "Private equity is buying up America’s newspapers." The Economist.
Coy, Peter. 2022. "Opinion". The New York Times.
Pizzigati, Sam. 2022. "From the Kingpins of Private Equity, A New Dagger to Democracy." Inequality.org.
Arbel, Tali. 2021. "Alden puts its stamp on Tribune with new debt and leadership." Associated Press.
"Entrepreneurial Spillovers from Corporate R&D." With Tania Babina. 2020.
Brookings Hutchins Roundup Dec 20, 2018.
Brin, Dina. 2018. "Corporate R&D Investment Appears To Spur Employees To Startup Venture Path." Forbes, Dec 30.
Arends, Brett. 2019. "The No. 1 reason why big, innovative companies suffer a ‘brain drain’". MarketWatch, Jan 14.
Featured in lead article of NBER Digest, March 2020
"Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes." With Atul Gupta, Constantine Yannelis, and Abhinav Gupta. 2021.
MarketWatch, April 30, 2021.
Bloomberg Law, April 6, 2021
Bloomberg News, March 25, 2021
NPR, March 23, 2021.
Vox, February 23, 2021.
The Financial Times, January 10, 2021.
The New York Times, May 7, 2020.
The Financial Times, May 6, 2020.
NBC News, 2020.
MarketWatch, March 14, 2020.
"The Color of Money: Federal vs. Industry Funding of University Research." With Tania Babina, Alex He, Elisabeth Perlman, and Joseph Staudt. 2020.
Walsh, Bryan. "The shift to private R&D investment may curtail innovation." Axios, January 30, 2021.
NBER Digest. "Are Federal and Private Research Funding Substitutes?" March, 2021.
Watch presentation video from virtual Finance in the Cloud conference, Apr 10 2020
VoxEU CEPR, February 29, 2020
"Financial Distancing: How Venture Capital Follows the Economy Down and Curtails Innovation." With Josh Lerner, Ramana Nanda, and Richard Townsend. 2020.
Kelleher, Kevin. The shock waves of tech stocks crashing are headed straight for startups. Fortune, May 2022.
Whyte, Amy. "Early-Stage VC Is ‘Highly’ Sensitive to Downturns — Including This One." Institutional Investor, May 2020.