Publications

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March 2010
Article

Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880–1913

By: Michael D. Bordo, Alberto Cavallo and Christopher Meissner

We study the determinants and output effects of sudden stops in capital inflows during an era of intensified globalization from 1880 to 1913. Higher levels of exposure to foreign currency debt and large current account deficits associated with reliance on foreign... View Details

Keywords: Sudden Stops; Capital Flows; Economics; Macroeconomics; Economic Growth; Financial Crisis; Globalization; History

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February 2021 (Revised June 2021)
Case

Barbarians at the Gate or Turnaround Gurus? Private Equity and the Rise of the LBO

By: Tom Nicholas and John Masko

During the 1980s, leveraged buyouts (LBOs) and the private equity (PE) firms responsible for carrying them out revolutionized both investment and management in the U.S. Between 1980 and 1989, buyout activity in the U.S. surged from $1 billion per year to $60 billion.... View Details

Keywords: Leveraged Buyouts; Mergers and Acquisitions; Business Conglomerates; Restructuring; Borrowing and Debt; Private Equity; Bonds; Investment Return; Institutional Investing; Profit Sharing; Business History; Management Style; Private Ownership; Performance Effectiveness; Value Creation; Financial Services Industry; United States

02 Oct 2008
What Do You Think?

Workout vs. Bailout: Should Government Take Advantage of the Buffett Effect?

Summing Up The depth of the global financial crisis is becoming clearer day by day. In the United States, it is being used as a reason to set aside ideology regarding government ownership of important financial institutions, possibly including those that also... View Details

Keywords: by Jim Heskett

26 Jun 2019
Research & Ideas

Why the US-China Tariff Standoff Hurts American Companies More

Reading The UK Needs a Bold Strategy Around Competition to Survive Brexit Free Trade Needs Nurturing—and Other Lessons from History Op-Ed: The Trouble with Tariffs What do you think of tariffs and the US-China trade war? Share your... View Details

Keywords: by Danielle Kost; Retail; Manufacturing; Steel

01 Sep 2003
What Do You Think?

To Whom Should Boards be Accountable?

numbers by cutting the newsgathering budget. What is a board's responsibility to employees and customers, among others? And just how can it be exercised in the context of a rich history of shareholder (versus employee or customer)... View Details

Keywords: by James Heskett

23 Apr 2013
First Look

First Look: April 23

(A) In spite of its abundant energy resources, Nigeria in 2012 had one of the lowest levels of energy use in the world. Self-generation of power from costly generators was double that of grid-supplied electricity. The history of its power... View Details

Keywords: Sean Silverthorne

24 Jul 2006
Research & Ideas

How Kayak Users Built a New Industry

kayak a good illustration of your model? A: There were three things that made rodeo kayaking an ideal test case for our model. First, it was a new sport, but not brand new, so we had a history of how the sport and the industry developed.... View Details

Keywords: by Sean Silverthorne; Entertainment & Recreation

02 Oct 2018
First Look

New Research and Ideas, October 2, 2018

paper we draw on the recent literature to highlight areas in which history has played a particularly prominent role in improving our understanding of growth dynamics. Research at the intersection of historical data, theory, and empirics... View Details

Keywords: Dina Gerdeman

03 May 2004
What Do You Think?

How Much Is Enough?

lives we must continue to push for more." But Mal Watlington poses perhaps the most challenging question: "The history of philosophy is filled with great thinkers who advise us to seek balance in life, yet the View Details

Keywords: by James Heskett

31 Jul 2015
Research & Ideas

The Faculty Reader: Who is Reading What This Summer?

Forgotten Holocaust Of World War II, by Iris Chang, is such a poignant book about the lesser known, perhaps, Holocaust of World War II, and helps me understand more about my own history and ancestry. I think it’s so important for us to... View Details

Keywords: by Carmen Nobel; Information; Publishing

March 2014 (Revised January 2025)
Case

Ukraine: On the Border of Europe and Eurasia

By: Rawi Abdelal, Rafael M. Di Tella, Sogomon Tarontsi and Lavinia Teodorescu

In the fall of 2013, the people of Ukraine disagreed passionately whether their country should intensify ties with the European Union or Russia. After President Yanukovych rejected the free trade agreement with the EU in November, thousands of Ukrainians peacefully... View Details

March 2022
Case

Copper Nationalization in Chile

By: Jeremy Friedman, John Masko and Jingyu Liu

In 1970 Chile became the first country to elect a Marxist president through open, multi-party elections in Salvador Allende. In his first year as president, Allende nationalized the copper industry, Chile’s largest export industry that was developed and owned by US... View Details

Keywords: Nationalism; History; Political Elections; Natural Resources; Globalized Markets and Industries; National Security; Government Administration; Government and Politics; Chile

04 Dec 2012
First Look

First Look: December 4

disasters had a positive impact. Firms' philanthropic history and communities' inter-corporate network cohesion moderated some of these effects. This study extends institutional and community literatures by illuminating the geographic... View Details

Keywords: Carmen Nobel

November 1981 (Revised June 1998)
Case

A Keynesian Cure for the Depression

Keynes, in excerpts from a 1933 pamphlet, outlines his recommendations for recovery from the Depression. He emphasizes the need for public works expenditures financed by government borrowing and discusses the "multiplier" effect of deficit spending on gross national... View Details

Keywords: History; Business Cycles; Theory; Microeconomics; Government Administration

2018
Chapter

Why Do So Many Chinese Students Come to the United States?

By: William C. Kirby

Many books offer information about China, but few make sense of what is truly at stake. The questions addressed in this unique volume provide a window onto the challenges China faces today and the uncertainties its meteoric ascent on the global horizon has provoked.... View Details

Keywords: Asia; China; Emerging Country; Students; Education; Higher Education; Globalization; International Relations; History; Society; Education Industry; Asia; China; United States

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December 2001 (Revised March 2004)
Case

Argentine Paradox: The, Economic Growth and the Populist Tradition

By: Rafael M. Di Tella and Ingrid Vogel

Describes the political and economic development in Argentina from 1900 to 1989, with a focus on the role of Peron and populism. A rewritten version of an earlier case. View Details

Keywords: History; Development Economics; Economic Growth; Government Administration; Argentina