Steven J. Davis

Senior Fellow
Biography: 

Steven Davis is a senior fellow at the Hoover Institution and William H. Abbott Distinguished Service Professor of International Business and Economics at the University of Chicago Booth School of Business.  

He is a research associate of the National Bureau of Economic Research, an economic adviser to the U.S. Congressional Budget Office, visiting scholar at the Federal Reserve Bank of Atlanta, elected fellow of the Society of Labor Economics, member of the CNE Growth Commission for Puerto Rico, senior adviser to the Brookings Papers on Economic Activity, and senior academic fellow of the Asian Bureau of Finance and Economic Research (ABFER). He also serves on the ABFER executive committee.

Past positions include Deputy Dean of the Faculty at Chicago Booth from 2012 to 2015, member of the governing committee of the Becker Friedman Institute at the University of Chicago from 2012 to 2015, and editor and founding co-editor of the American Economic Journal: Macroeconomics from 2006 to 2011.

Davis studies business dynamics, labor markets, economic fluctuations and public policy.

He is known for his influential work using longitudinal data on firms and establishments to explore job creation and destruction dynamics and their relationship to economic performance. He is a creator of the Economic Policy Uncertainty Indices and the DHI Hiring Indicators. He co-organizes the Asian Monetary Policy Forum, held annually in Singapore. In 2013, he received the Addington Prize in Measurement for his research on “Measuring Economic Policy Uncertainty.” 

In addition to his scholarly work, Davis has written for the Atlantic, Bloomberg View, Chicago Tribune, Financial Times, Forbes, Los Angeles Times, and the Wall Street Journal and appeared on Bloomberg TV, Channel News Asia, CNBC, CNN, Fox News, NBC Network News and the U.S. Public Broadcasting System.

Davis was a national fellow at the Hoover Institution in 1988-89 and has held visiting faculty appointments at the Massachusetts Institute of Technology, the University of Maryland at College Park and the National University of Singapore. He received his undergraduate degree in economics from Portland State University and his masters and PhD degrees in economics from Brown University.

 

Awards and Honors:

Addington Prize in Measurement (2013)
Society of Labor Economics, Elected Fellow (2015)

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Recent Commentary

Analysis and Commentary

COVID-19 And Labour Reallocation: Evidence From The US

by Jose Maria Barrero, Nicholas Bloom, Steven J. Davisvia VoxEu.org (Centre for Economic Policy Research)
Tuesday, July 14, 2020

One of the most urgent economic impacts of the Covid-19 crisis is on labour markets. Widespread job losses, drastic increases in unemployment benefit claims, and the rise of working from home have dominated the discussion during the pandemic so far. This column presents evidence from the US, arguing that the pandemic itself represents reallocation of labour within the economy. 

Analysis and Commentary

COVID Won't Kill Demand For Office Space

by Steven J. Davisvia Federal Reserve Bank of Atlanta
Friday, July 10, 2020

Last month, we noted that employers expect working from home to triple after the pandemic as compared to the prepandemic situation. The large shift to working from home has prompted many to speculate about the demise of commercial real estate (CRE) and the demand for office space.

Interviews

Steven Davis: Research For Equity In Recovery I: How Job Training Matters

interview with Steven J. Davisvia Philadelphia Fed
Thursday, July 2, 2020

Hoover Institution fellow Steven Davis discusses how the COVID-19 pandemic is not only a health crisis but also a job reallocation shock. It could leave a mass of displaced workers with the wrong skills. Davis talks about the job training needed during the recovery and best practices in the field.

Analysis and Commentary

Economic Uncertainty Before And During The COVID-19 Pandemic

by David Altig, Scott R. Baker, Jose Maria Barrero, Nick Bloom, Phil Bunn, Scarlet Chen, Steven J. Davis, Brent Meyer, Emil Mihaylov, Paul Mizen, Nick Parker, Thomas Renault, Pawel Smietanka, Greg Thwaitesvia Becker Friedman Institute for Economics at the University of Chicago
Tuesday, June 30, 2020

Most indicators of economic uncertainty in the US and UK reached their highest values on record following the onset of the COVID-19 pandemic, with peaks varying among indicators and along differing timelines

COVID-19 Is Also a Reallocation Shock

by Jose Maria Barrero, Nick Bloom, Steven J. Davisvia Economics Working Papers
Thursday, June 25, 2020
Economics Working Paper 20113
Analysis and CommentaryBlank Section (Placeholder)

COVID-19 Is Also A Reallocation Shock

by Jose Maria Barrero, Nick Bloom, Steven J. Davisvia Brookings
Thursday, June 25, 2020

The COVID-19 pandemic is driving a massive shift in jobs and businesses—within industries, across industries, and across locations, concludes a paper to be discussed at the Brookings Papers on Economic Activity conference June 25, and government policies that impede that process could make a potentially slow and painful recovery even worse.

Interviews

Steven Davis: Paradigm Shift Reengineering Your Workforce For The COVID 19 Era And Beyond Final Cut

interview with Steven J. Davisvia EPAY Systems
Wednesday, June 24, 2020

Hoover Institution fellow Steven Davis analyzes re-engineering your workforce for the COVID 19 Era.

The Unprecedented Stock Market Reaction to COVID-19

by Scott R. Baker, Nicholas Bloom, Steven J. Davis, Kyle Kost, Marco Sammon, Tasaneeya Viratyosinvia Economics Working Papers
Tuesday, June 16, 2020

Economics Working Paper 20112

Economic Uncertainty Before and During the COVID-19 Pandemic

by David Altig, Scott R. Baker, Jose Maria Barrero, Nick Bloom, Phil Bunn, Scarlet Chen, Steven J. Davis, Julia Leather, Brent Meyer, Emil Mihaylov, Paul Mizen, Nick Parker, Thomas Renault, Pawel Smietanka, Greg Thwaitesvia Economics Working Papers
Thursday, June 11, 2020

Economics Working Paper 20111

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Steven J. Davis And Lee Ohanian: Unemployment, The Stock Market And Our Economic Future | Hoover Virtual Policy Briefing

interview with Steven J. Davis, Lee Ohanianvia Hoover Podcasts
Thursday, May 28, 2020

AUDIO ONLY

Steven J. Davis And Lee Ohanian discuss Unemployment, The Stock Market And Our Economic Future.

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