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All HBS Web
(223)
- People (1)
- News (40)
- Research (148)
- Events (1)
- Multimedia (3)
- Faculty Publications (103)
- 15 Jul 2008
- First Look
First Look: July 15, 2008
"bottom-up" forces highlighted in these models and instead reflects more "top-down" interventions. We conclude with a discussion of some of the historical evidence on top-down interventions. Economic Catastrophe Bonds Authors:Joshua D. Coval, Jakub...
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Keywords:
Martha Lagace
- October 2022
- Article
It’s Not Just the Prices: Time-Driven Activity-Based Costing for Initiation of Veno-Venous Extracorporeal Membrane Oxygenation at Three International Sites—A Case Review
By: Michael Nurok, Vin Pellegrino, Marc Pineton de Chambrun, Jonathan Warsh, Meredith Young, Erik Dong, Neil Parrish, Syed Shehab, Alain Combes and Robert S. Kaplan
The United States spends more for intensive care units (ICUs) than do other high-income countries. We used time-driven activity-based costing (TDABC) to analyze ICU costs for initiation of extracorporeal membrane oxygenation (ECMO) for respiratory failure to estimate...
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Keywords:
Healthcare;
Cost;
Time-Driven ABC;
Health Care and Treatment;
Cost Management;
Activity Based Costing and Management;
Health Industry
Nurok, Michael, Vin Pellegrino, Marc Pineton de Chambrun, Jonathan Warsh, Meredith Young, Erik Dong, Neil Parrish, Syed Shehab, Alain Combes, and Robert S. Kaplan. "It’s Not Just the Prices: Time-Driven Activity-Based Costing for Initiation of Veno-Venous Extracorporeal Membrane Oxygenation at Three International Sites—A Case Review." Anesthesia & Analgesia 135, no. 4 (October 2022): 711–718.
- Article
Achieving Value in Highly Complex Acute Care: Lessons from the Delivery of Extra Corporeal Life Support
By: Michael Nurok, Jonathan Warsh, Erik Dong, Jeffrey Lopez, Mayumi Kharabi and Robert S. Kaplan
We applied a value (outcomes and cost) analysis to extracorporeal life support (ECLS), a relatively rare but very expensive ICU therapy with highly variable outcomes. To address the outcome component of the value approach, we created guidelines for ECLS delivery; to...
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Nurok, Michael, Jonathan Warsh, Erik Dong, Jeffrey Lopez, Mayumi Kharabi, and Robert S. Kaplan. "Achieving Value in Highly Complex Acute Care: Lessons from the Delivery of Extra Corporeal Life Support." NEJM Catalyst (October 31, 2019).
- November 2007
- Background Note
Asset Allocation I
By: Joshua D. Coval, Erik Stafford, Rodrigo Osmo, John Jernigan, Zack Page and Paulo Passoni
The goal of these simulations is to understand the mathematics of mean-variance optimization and the equilibrium pricing of risk if all investors use this rule with common information sets. Simulation A focuses on five to 10 years of monthly sector returns that are...
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- 2021
- Working Paper
Limits to Bank Deposit Market Power
By: Juliane Begenau and Erik Stafford
Claims about the market power of bank deposits in the banking literature are numerous and far reaching. Recently, a causal narrative has emerged in the banking literature: market power in bank deposits, measured as imperfect pass-through of short-term market rates on...
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Keywords:
Bank Deposits;
Market Power;
Net Interest Margin (NIM);
Banks and Banking;
Interest Rates;
Risk and Uncertainty
Begenau, Juliane, and Erik Stafford. "Limits to Bank Deposit Market Power." Harvard Business School Working Paper, No. 22-039, November 2021.
- 2023
- Working Paper
Uniform Rate Setting and the Deposit Channel
By: Juliane Begenau and Erik Stafford
U.S. banks predominantly use uniform deposit rate setting policies, particularly the largest banks. Uniform rate setting ignores local market concentration, and is therefore inconsistent with the identification strategy used to provide cross-sectional evidence of the...
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Begenau, Juliane, and Erik Stafford. "Uniform Rate Setting and the Deposit Channel." Working Paper, December 2023.
- September 2014
- Case
Evanston Capital Management
By: Erik Stafford and Adi Sunderam
Stafford, Erik, and Adi Sunderam. "Evanston Capital Management." Harvard Business School Case 215-016, September 2014.
- January 2008
- Background Note
Valuing Risky Debt
By: Joshua Coval and Erik Stafford
This lesson develops the classical structural approach to pricing and hedging credit risk: Merton's (1974) contingent claims model of debt and equity claims. This model is used to make investment and risk management decisions in an over-the-counter (OTC) market for...
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Keywords:
Borrowing and Debt;
Credit;
Investment;
Price;
Risk Management;
Mathematical Methods;
Valuation
Coval, Joshua, and Erik Stafford. "Valuing Risky Debt." Harvard Business School Background Note 208-111, January 2008.
- November 2007
- Article
Asset Fire Sales (and Purchases) in Equity Markets
By: Joshua Coval and Erik Stafford
Coval, Joshua, and Erik Stafford. "Asset Fire Sales (and Purchases) in Equity Markets." Journal of Financial Economics 86, no. 2 (November 2007).
- July 2000
- Article
Managerial Decisions and Long-Term Stock-Price Performance
By: Mark Mitchell and Erik Stafford
Mitchell, Mark, and Erik Stafford. "Managerial Decisions and Long-Term Stock-Price Performance." Journal of Business 73, no. 3 (July 2000). (Winner of Merton Miller Prize Given annually for the best paper published in the Journal of Business.)
- January 2008
- Background Note
Collateralized Debt Obligations (CDOs)
By: Joshua Coval and Erik Stafford
This lesson integrated Merton's (1974) contingent claims model of debt and equity claims with the CAPM, which allows us to examine the risks and pricing of credit portfolios and the derivative claims issued against them. In particular, this model is used to make...
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Keywords:
Decision Choices and Conditions;
Borrowing and Debt;
Credit Derivatives and Swaps;
Investment Portfolio;
Risk Management
Coval, Joshua, and Erik Stafford. "Collateralized Debt Obligations (CDOs)." Harvard Business School Background Note 208-113, January 2008.
- 1999
- Working Paper
Investigating the Economic Role of Mergers
By: Gregor Andrade and Erik Stafford
Andrade, Gregor, and Erik Stafford. "Investigating the Economic Role of Mergers." Harvard Business School Working Paper, No. 00-006, August 1999.
- January 2008
- Background Note
Equity Options
By: Joshua Coval and Erik Stafford
The goal of this simulation is to understand the reliance of option values on volatility. When an investor trades an option, they are essentially trading volatility. Therefore, much of the focus in this lesson is on forecasting volatility. Students are able to use two...
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Keywords:
Volatility;
Forecasting and Prediction;
Stock Options;
Investment Return;
Price;
Market Transactions;
Mathematical Methods;
Value
Coval, Joshua, and Erik Stafford. "Equity Options." Harvard Business School Background Note 208-118, January 2008.
- January 2008
- Background Note
Equity Derivatives
By: Joshua Coval and Erik Stafford
The goal of these simulations is to understand the dynamic replication technique behind the Black-Scholes/Merton options model. The simulations focus on a single stock and a risk-free discount bond, which are used to replicate a contingent payoff. The underlying stock...
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Coval, Joshua, and Erik Stafford. "Equity Derivatives." Harvard Business School Background Note 208-117, January 2008.
- January 2008
- Background Note
Convertible Arbitrage
By: Joshua Coval and Erik Stafford
The goal of this simulation is to understand how convertible bonds can be viewed as a portfolio of simpler securities and to introduce an over-the-counter market. The convertible bonds that are available during the simulation are at-the-money and in-the-money so that...
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Coval, Joshua, and Erik Stafford. "Convertible Arbitrage." Harvard Business School Background Note 208-116, January 2008.
- 2005
- Working Paper
Asset Fire Sales (and Purchases) in Equity Markets
By: Joshua Coval and Erik Stafford
Coval, Joshua, and Erik Stafford. "Asset Fire Sales (and Purchases) in Equity Markets." Harvard Business School Working Paper, No. 05-077, May 2005.
- 29 Jan 2013
- First Look
First Look: Jan. 29
reaping the benefits of FDI (which relate to when FDI will generate growth) and (2) the mechanisms by which FDI creates positive externalities (which relate to how FDI generates growth). Technology and Innovation Management...
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Keywords:
Sean Silverthorne
- Article
Hinged Dissections Exist
By: Timothy G. Abbott, Zachary Abel, David Charlton, Erik D. Demaine, Martin L. Demaine and Scott Duke Kominers
We prove that any finite collection of polygons of equal area has a common hinged dissection. That is, for any such collection of polygons there exists a chain of polygons hinged at vertices that can be folded in the plane continuously without self-intersection to form...
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Abbott, Timothy G., Zachary Abel, David Charlton, Erik D. Demaine, Martin L. Demaine, and Scott Duke Kominers. "Hinged Dissections Exist." Discrete & Computational Geometry 47, no. 1 (January 2012): 150–186.
- March 2008
- Teaching Note
2006 Hurricane Risk (TN)
By: André Perold and Erik Stafford
Teaching Note for [207075].
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