The Milton Friedman Institute for Research in Economics (MFI) was launched in July 2008 in order to advance scholarship in economics at the University of Chicago. The Institute seeks to strengthen and enhance its position as a premier destination for economics research and education by fostering collaborations and drawing together preeminent scholars from across the globe. The MFI’s mission is to support research on important policy-related questions through the application of economic analysis. This mission builds on Chicago’s tradition of rigorous intellectual inquiry motivated and backed by empirical evidence. Over the last century, contributions by University of Chicago faculty in the Department of Economic, the Chicago Booth School of Business, the Law School, and other departments and schools have helped to shape the study of economics in profound ways. The Milton Friedman Institute for Research in Economics continues this tradition. It supports the broad exchange of ideas among University of Chicago faculty and visiting scholars across the most exciting areas of economic research.