In the Press
March 29, 2021
China and Xinjiang: What luxury needs to know
By: Vogue Business Team
Institute fellow Dipanjan Chatterjee is quoted in this Vogue Business article that explores the potential economic impact of a cancelled partnership between Chinese tech giant Tencent and luxury brand Burberry amidst tensions regarding cotton production in Xinjiang.
Excerpt: “A political fracas in China is about the last thing a luxury brand wants. Alienating the Chinese market is bad for most brands; it could be outright disaster for luxury brands,” says Dipanjan Chatterjee, vice president and principal analyst at Forrester.
[...] Still, some argue it is unlikely that Burberry will suffer an immediate loss of revenue from the cancellation of the Honor of Kings partnership and, despite the social media flurry, there is no evidence that consumers will abandon the brand, according to Forrester's Chatterjee.
March 23, 2021
With Fewer Ads on Streaming, Brands Make More Movies
By: Nicole Sperling and Tiffany Hsu
Institute fellow Dipanjan Chatterjee is quoted in this New York Times article that explores how the rise in streaming during the COVID-19 pandemic has changed the ways companies advertise.
Excerpt: It’s all part of a deliberate shift by brands to try to integrate themselves more fully into consumers’ lives, the way companies like Apple and Amazon have, said Dipanjan Chatterjee, an analyst with Forrester. And they want to do so without commercials, which, he said, have “zero credibility” with consumers.
“If the right story has the right ingredients and it becomes worthwhile for sharing, it doesn’t come across as an intrusive bit of advertising,” Mr. Chatterjee said. “It feels much more like a natural part of our lives.”
January 21, 2021
Ohio university economists say opening schools will provide economic boost
By: J.D. Davidson
Academic Director Michael Jones is quoted in this Mahoning Matters article that shares the findings of a recent survey of 32 economists from Ohio colleges and universities regarding the role school openings could play in boosting the economy amid the COVID-19 pandemic.
Excerpt: "Until schools reopen, there is a limit on how many individuals can go back to work,” Michael Jones, an economist at the University of Cincinnati, said. “With schools closed, the natural rate of unemployment is higher.”
October 21, 2020
Businesses nervous rising COVID-19 cases could eventually mean second shutdown
By: Dan Griffin
UC Economics Professor David Brasington is quoted in this WLWT article that highlights the challenges many businesses are faced with months into the COVID-19 pandemic. Locally, Hamilton County is on the brink of turning purple—the highest level on the state's advisory system; this looming possibility has business owners worried about a potential second shutdown.
Excerpt: Brasington hopes a second shutdown isn't coming. "I think only large national chains for restaurants, for example, would be predominant and a lot of local businesses that are specific to Cincinnati might close," he said. He adds, a second shutdown may not be as dramatic because we know more than we did in March. But Brasington said unemployment is higher than it should be and that's a drag on the economy and spending. [...] Brasington said businesses should think about online options, and he said a second targeted stimulus would be helpful.
October 15, 2020
Holiday shoppers encouraged to shop local in year of pandemic
By: Miana Massey
Academic Director Michael Jones is quoted in this WLWT article that shines a light on the importance of shopping locally this holiday season, especially in light of the long recovery processes many businesses are still faced with as a result of COVID-19 shutdowns earlier this year.
Excerpt: "It is really critical for local retailers not to just wait until Black Friday to get in front of the customer because by that point it might be too late," Kautz-Uible Economics Institute Executive Director Michael Jones said. He says online sales are up 50% this year, and encourages business owners to get creative. [...] "Customer service is one thing that a lot of local businesses have, they know the customer, they what they want. They often have a relationship with them that the larger online retailers just don't have," Jones said.
September 14, 2020
UC partnerships create new opportunities for Kingsgate Logistics
By: Matt Koesters
This UC News article highlights the collaboration of Academic Director Michael Jones and graduate students Hunter Hall, Jesse Hendren-Mills, Elijah Proffitt, and Samuel Ransohoff-Englert with Kingsgate Logistics. Using the institute's innovative blockchain lab, the students developed recommendations for how Kingsgate could use blockchain technology to their advantage.
Excerpt: "Through the Kautz-Uible Economics Institute, students can apply the economic concepts that they learn in the classroom within a real-world setting," Jones says. "They see how approaching business through an economics mindset can bring clarity to an issue. Students learn through feedback loops, and by working with business leaders, they experience a different perspective than their professors provide in the classroom alone."
August 19, 2020
Ohio economists say mask mandate is well worth doing
By: Marty Schladen
Academic Director Michael Jones is quoted in this Ohio Capital Journal article (shared on News5Cleveland.com) that explores the findings of a recent survey of 40 economists on the Ohio Economic Experts Panel regarding a statewide mask mandate. The respondents overwhelmingly agreed "that the state's mask mandate is the economically wise thing to do."
Excerpt: Even the economist who was most lukewarm about mask wearing seemed to say the mandate is worth a shot. Michael Jones of the University of Cincinnati responded with a '5' when asked to rate on a 1-10 scale how much he agreed that the long-term benefits of mask-wearing exceeded the costs. "Even though the long-term benefits are unknown, the costs of the mandate itself seem quite low," he said.
August 14, 2020
Take dire surveys with a grain of salt, economists say
By: Patrick Cooley
Academic Director Michael Jones is quoted in this Akron Beacon Journal article that reminds readers to take gloomy predictions about the current economic climate with a grain of salt.
Excerpt: “What people say is not always necessarily what they’ll do,” University of Cincinnati economics professor Michael Jones said. “And there's incentive to make the situation seem worse than it is to encourage government help."
May 6, 2020
When Will It Be Safe To Buy Again?
By: Christopher Elliott
Academic Director Michael Jones is quoted in this Forbes article that highlights the uncertainty buyers felt during the initial outbreak of COVID-19 in the United States.
Excerpt: "It's no surprise that people are buying fewer of these products. Purchases of durable goods like cars and houses are tied to business cycles," explains Michael Jones, an economics professor at the University of Cincinnati.
"During recessionary periods, purchases of these goods fall significantly more than nondurable purchases because these items tend to be financed with debt," he says. "As such, they are much more sensitive to changes in interest rates."
April 13, 2020
Facing Financial Stress, Nonprofits Lay Off Workers
By: Jim Rendon
Academic Director Michael Jones is featured in this Chronicle of Philanthropy article that explores the financial strain that the COVID-19 pandemic has placed on nonprofit organizations across the country. Rendon cites Jones's findings that 18,000 organizations—around 22% of nonprofits in the U.S.—had less than two weeks of cash on hand. This discovery came from Jones's recent analysis of the tax returns of 155,000 nonprofits, as explained in Jones's A Surge of Nonprofit Closures. This sobering finding means that these organizations, which employ around 1.65 million, will likely have to lay off a significant portion of their staff. Even more troubling is the fact that the average amount of cash on hand for all of the nonprofits in Jones's analysis was about three months.
March 16, 2020
Issue 7 in Hamilton County: What to know about sales tax increase for transit, roads and bridges
By: Pat LaFleur
Academic Director Michael Jones is featured in this WCPO exploratory article of Hamilton County's Issue 7. LaFleur refers to Jones's research regarding the economic consequences of tax rate adjustments that would result from the passing of this issue. According to Jones, Issue 7 would make Cincinnati a more attractive place for businesses to gravitate toward; he states, "That's going to cause a lot of new revenue to come into the city itself."
Additionally, Jones provides insight into the downside of Issue 7, adding that projections for the potential amount of revenue a sales tax can raise need to be considered. He states, "When proponents claim that the 0.8 sales tax will raise $130 million for public transit and infrastructure, the actual collection will be roughly $5 million less." According to Jones, the 0.8% increase could raise 95% of projections or higher.
In regards to the unprecedented sales tax increase, Jones warns: "There's a limit to how much Hamilton County can raise its sales tax. So if the county needs to raise more revenue, they've kind of used everything up. They've gone from 7 to 7.8 (percent). They can't go much higher."