Publications

Article

Variance-Minimizing Monetary Policies with Lagged Price Adjustment and Rational Expectations

By: Jerry R. Green and Seppo Honkapohja

This paper considers a macroeconomic model with rational expectations in which prices are incompletely flexible. Markets therefore fail to clear. In such a model monetary policy is not neutral. The variance of real and nominal quantities and interest rates is sensitive... View Details

06 Dec 2017
Working Paper Summaries

Trials and Terminations: Learning from Competitors' R&D Failures

Keywords: by Joshua Lev Krieger

October 2014
Article

The Promise of Positive Optimal Taxation: Normative Diversity and a Role for Equal Sacrifice

By: Matthew Weinzierl

A prominent assumption in modern optimal tax research is that the objective of taxation is Utilitarian. I present new survey evidence that most people disagree with this assumption, preferring tax policies based at least in part on a classic alternative objective: the... View Details

Keywords: Taxation; Theory

November 2015
Article

The Highest Form of Intelligence: Sarcasm Increases Creativity for Both Expressers and Recipients

By: Li Huang, F. Gino and Adam D. Galinsky

Sarcasm is ubiquitous in organizations. Despite its prevalence, we know surprisingly little about the cognitive experiences of sarcastic expressers and recipients or their behavioral implications. The current research proposes and tests a novel theoretical model in... View Details

Keywords: Creativity; Cognition and Thinking

October 2022
Article

Sovereign Risk, Currency Risk, and Corporate Balance Sheets

By: Wenxin Du and Jesse Schreger

We provide a comprehensive account of the evolution of the currency composition of sovereign and corporate external borrowing by emerging markets from 2003 to 2017. We show that a higher reliance on foreign currency debt by the corporate sector is associated with... View Details

Keywords: Currency; International Finance

19 Jun 2013 - 21 Jun 2013
Keynote Speech

Empowering the Learner at Work: The Three Stances Framework

By: Michele Rigolizzo, David Perkins and Marga Biller

Research suggests that work-relevant learning occurs largely on the job. However, in many situations workers do not learn nearly as much as they might. The "three stances" model helps to explain why. When someone undertakes a task, the person may adopt a completion,... View Details

Keywords: Learning And Development; Learning Organizations; Learning To Learn; Organizational Culture; Organizational Design; Learning

Research Summary

Output and asset price fluctuations

What are the sources of business cycles? How are these shocks propagated in the economy? Why are their effects so persistent? How can we explain asset price fluctuations? How are shocks transmitted internationally?To study these questions, I have developed a series... View Details

20 Jul 2013
News

Executive Education program helps build nonprofit management skills

September 2017
Case

Sensing (and Monetizing) Happiness at Hitachi

By: Ethan Bernstein and Stephanie Marton

Inspired by research linking happiness and productivity, Hitachi had invested in developing new “people analytics” technologies to help companies increase employee happiness. Hitachi had begun manufacturing high-tech badges that quantify a wearer’s activity patterns.... View Details

Keywords: People Analytics; Japan; Sociometers; Wearables; Interpersonal Communication; Human Resources; Happiness; Technology Industry; Japan

Article

Adaptive Machine Unlearning

By: Varun Gupta, Christopher Jung, Seth Neel, Aaron Roth, Saeed Sharifi-Malvajerdi and Chris Waites

Data deletion algorithms aim to remove the influence of deleted data points from trained models at a cheaper computational cost than fully retraining those models. However, for sequences of deletions, most prior work in the non-convex setting gives valid guarantees... View Details

Keywords: Machine Learning; AI and Machine Learning

March 2009 (Revised May 2009)
Background Note

Executing Strategy

By: J. Bruce Harreld

This is a note to introduce the principles for effectively implementing a new strategy. It emphasizes the interdependence of strategy and execution in developing and sustaining superior competitive performance. Primarily based on the notion that strategy should be a... View Details

Keywords: Alignment; Competitive Strategy; Management Teams

Research Summary

Interviewing and Dating in Two-Sided Matching Markets: Coordination and Communication (joint with M. Schwarz)

We introduce the interview assignment problem, which generalizes the one-to-one matching model of Gale Shapley (1962) by including a stage of costly information acquisition. Agents do not know their preferences over potential partners unless they choose to conduct... View Details

2023
Article

Towards Bridging the Gaps between the Right to Explanation and the Right to Be Forgotten

By: Himabindu Lakkaraju, Satyapriya Krishna and Jiaqi Ma

The Right to Explanation and the Right to be Forgotten are two important principles outlined to regulate algorithmic decision making and data usage in real-world applications. While the right to explanation allows individuals to request an actionable explanation for an... View Details

Keywords: Analytics and Data Science; AI and Machine Learning; Decision Making; Governing Rules, Regulations, and Reforms

14 Feb 2023
HBS Case

Is Sweden Still 'Sweden'? A Liberal Utopia Grapples with an Identity Crisis

policy: An active national government with a desire to achieve an equitable distribution of income and wealth; a generous social welfare system financed by taxes; and a shared structure of corporate control by business, labor, and the... View Details

Keywords: by Lane Lambert

February 2010
Background Note

Marketing Analysis Toolkit: Market Size and Market Share Analysis

By: Thomas J. Steenburgh and Jill Avery

Marketers frequently need to estimate the size of their markets—both for existing products so that sales forecasts can be developed and for new products so that market opportunities can be assessed. This toolkit enables students to size a market and generate a sales... View Details

Keywords: Forecasting and Prediction; Management Analysis, Tools, and Techniques; Marketing Strategy; Markets; Demand and Consumers; Size; Strategic Planning; Sales

2023
Working Paper

Causal Interpretation of Structural IV Estimands

By: Isaiah Andrews, Nano Barahona, Matthew Gentzkow, Ashesh Rambachan and Jesse M. Shapiro

We study the causal interpretation of instrumental variables (IV) estimands of nonlinear, multivariate structural models with respect to rich forms of model misspecification. We focus on guaranteeing that the researcher's estimator is sharp zero consistent, meaning... View Details

Keywords: Mathematical Methods

August 2018
Article

Extrapolation and Bubbles

By: Nicholas Barberis, Robin Greenwood, Lawrence Jin and Andrei Shleifer

We present an extrapolative model of bubbles. In the model, many investors form their demand for a risky asset by weighing two signals: an average of the asset’s past price changes and the asset’s degree of overvaluation. The two signals are in conflict, and investors... View Details

Keywords: Bubble; Extrapolation; Volume; Price Bubble; Mathematical Methods