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  • Spring 2024
  • Article

The Evolution of Banking in the 21st Century: Evidence and Regulatory Implications

By: Samuel Gregory Hanson, Victoria Ivashina, Laura Nicolae, Jeremy C. Stein, Adi Sunderam and Daniel K. Tarullo
As revealed by the failures of three regional banks in the spring of 2023, bank runs are not a thing of the past. To inform the ongoing discussion of the appropriate regulatory response, we examine trends in the banking industry over the last twenty-five years. On the... View Details
Keywords: Financial Instruments; Financial Crisis; Assets; Governing Rules, Regulations, and Reforms; Financial Condition; Banking Industry
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Hanson, Samuel Gregory, Victoria Ivashina, Laura Nicolae, Jeremy C. Stein, Adi Sunderam, and Daniel K. Tarullo. "The Evolution of Banking in the 21st Century: Evidence and Regulatory Implications." Brookings Papers on Economic Activity (Spring 2024): 343–389.
  • 07 Aug 2019
  • Research & Ideas

Big Infrastructure May Not Always Produce Big Benefits

Governments and policymakers often assume that infrastructure development is key to jumpstarting economic growth for citizens, an “If we build it they will come” chain reaction of new jobs, more efficient transportation, and safer... View Details
Keywords: by Martha Lagace; Construction
  • Research Summary

Overview

Professor Sawyer’s research focuses on U.S. political economy in the late 19th and early 20th centuries, concentrating on the development of competition policy and the administrative state. While the conventional history of U.S. competition policy portrays the... View Details

  • February 2018
  • Case

Infrastructure in Nigeria: Unlocking Pension Fund Investments

By: John Macomber and Pippa Tubman Armerding
The so-called “infrastructure finance gap” was a problem in Nigeria as in many parts of the world. Infrastructure projects like power plants and dams were very large capital investments that could generate long-term consistent cash flows, but their financing and... View Details
Keywords: Pension Fund Investing; Infrastucture; Power/Energy; Credit Enhancement; Infrastructure; Project Finance; Investment Funds; Emerging Markets; Nigeria; Africa
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Macomber, John, and Pippa Tubman Armerding. "Infrastructure in Nigeria: Unlocking Pension Fund Investments." Harvard Business School Case 218-071, February 2018.
  • 26 Jul 2016
  • First Look

July 26, 2016

impressions of the expresser. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=51400 Can Paying Firms Quicker Affect Aggregate Employment? By: Barrot, Jean-Noel, and Ramana Nanda Abstract—In 2011, the federal View Details
Keywords: Sean Silverthorne
  • 2017
  • Article

Handgun Waiting Periods Reduce Gun Deaths

By: Michael Luca, Deepak Malhotra and Christopher Poliquin
Handgun waiting periods are laws that impose a delay between the initiation of a purchase and final acquisition of a firearm. We show that waiting periods, which create a “cooling off” period among buyers, significantly reduce the incidence of gun violence. We estimate... View Details
Keywords: Gun Policy; Gun Violence; Waiting Period; Injury Prevention; Policy; Safety; Governing Rules, Regulations, and Reforms; United States
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Luca, Michael, Deepak Malhotra, and Christopher Poliquin. "Handgun Waiting Periods Reduce Gun Deaths." Proceedings of the National Academy of Sciences 114, no. 46 (November 14, 2017).
  • October 2020 (Revised April 2022)
  • Case

When Institutions Fail: HIV/AIDS in the 1980s

By: Tom Nicholas and Christian Godwin
During the early 1980s, young gay men in urban centers such as San Francisco and New York City began contracting a mysterious illness that would come to be known as HIV/AIDS. A diagnosis meant almost certain death, with a less than 1% survival rate. Conflicting... View Details
Keywords: Ethics; Policy; Government and Politics; Health Pandemics; History; Rights; Media; Organizations; Business and Community Relations; Religion; Social Psychology; Identity; Prejudice and Bias; Social Issues; Public Opinion; Pharmaceutical Industry; Biotechnology Industry; Health Industry; Journalism and News Industry; Media and Broadcasting Industry; Public Administration Industry; United States
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Nicholas, Tom, and Christian Godwin. "When Institutions Fail: HIV/AIDS in the 1980s." Harvard Business School Case 821-002, October 2020. (Revised April 2022.)
  • 08 Aug 2016
  • Working Paper Summaries

The Unintended Consequences of the Zero Lower Bound Policy

Keywords: by Marco Di Maggio and Marcin Kacperczyk; Banking
  • 2010
  • Working Paper

Investment Taxation and Portfolio Performance

By: Daniel B. Bergstresser and Jeffrey Pontiff
Taxes have a first-order impact on portfolio returns. Most research mistakenly assumes that portfolios command similar tax burdens, or that tax burdens are proportional to dividend yields. Portfolio strategies differ in the pace of capital gains realization. We use the... View Details
Keywords: Financial Strategy; Investment Return; Investment Portfolio; Taxation; Performance Evaluation
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Bergstresser, Daniel B., and Jeffrey Pontiff. "Investment Taxation and Portfolio Performance." Harvard Business School Working Paper, No. 10-084, March 2010.
  • January–February 2022
  • Article

Mobilizing the U.S. Military’s TRICARE Program for Value-Based Care: A Report From the Defense Health Board

By: Robert S. Kaplan, Paul R. Schaettle, Vivian S. Lee, Michael D. Parkinson, Gregory H. Gorman and Michael-Anne Browne
The U.S. Military Health System spends about $50 billion annually through its TRICARE health plans to provide care to 9.6 million active duty service members, retirees, and their families. TRICARE, historically, has used the predominant U.S. fee-for-service payment... View Details
Keywords: Military Health System; Value-based Healthcare; Health Care and Treatment; United States
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Kaplan, Robert S., Paul R. Schaettle, Vivian S. Lee, Michael D. Parkinson, Gregory H. Gorman, and Michael-Anne Browne. "Mobilizing the U.S. Military’s TRICARE Program for Value-Based Care: A Report From the Defense Health Board." Military Medicine 187, nos. 1-2 (January–February 2022): 12–16.
  • 07 Sep 2019
  • Op-Ed

Even for Non-Believers, These Are the Next Steps on Climate Change

trillion-dollar plans to attempt to mitigate carbon. Businesses, homeowners, and local governments must focus on what can be done today to address these direct threats to people and property. There are three major tools in the “what to do... View Details
Keywords: by John Macomber
  • 2022
  • White Paper

The Options Multiplier: Decoding the CareerWise Youth Apprentice Journey

By: Joseph B. Fuller, Rachel Lipson, Farah Mallah, Girish Pendse and Rachel Snyder
As more Americans question the appeal of costly higher education programs, earn-and-learn models, like apprenticeship, are attracting increasing attention from policymakers and employers alike. While apprenticeship is widespread in many parts of Europe,... View Details
Keywords: Apprenticeship; Higher Education; Training; Personal Development and Career; Cost vs Benefits; Success; Governing Rules, Regulations, and Reforms
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Fuller, Joseph B., Rachel Lipson, Farah Mallah, Girish Pendse, and Rachel Snyder. "The Options Multiplier: Decoding the CareerWise Youth Apprentice Journey." White Paper, Project on Workforce at Harvard, November 2022.
  • 11 Feb 2008
  • Research & Ideas

Does Democracy Need a Marketing Manager?

from ready for online voting. We can't even manage to cast and count votes accurately with the new electronic technologies. Q: In the United States it seems the public has a very low opinion of the federal government. Can View Details
Keywords: by Sean Silverthorne
  • December 2024
  • Article

Is There Too Little Antitrust Enforcement in the U.S. Hospital Sector?

By: Zarek Brot-Goldberg, Zack Cooper, Stuart Craig and Lev Klarnet
From 2002 to 2020, there were over 1,000 mergers of U.S. hospitals. During this period, the Federal Trade Commission (FTC) took enforcement actions against 13 transactions. However, using the FTC’s standard screening tools, we find that 20% of these mergers could have... View Details
Keywords: Monopoly; Mergers and Acquisitions; Governing Rules, Regulations, and Reforms; Competition; Health Industry
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Brot-Goldberg, Zarek, Zack Cooper, Stuart Craig, and Lev Klarnet. "Is There Too Little Antitrust Enforcement in the U.S. Hospital Sector?" American Economic Review: Insights 6, no. 4 (December 2024): 526–542.
  • 18 Oct 2010
  • Lessons from the Classroom

Venture Capital’s Disconnect with Clean Tech

MBA students often fall into one of two categories—those hungry to rush into careers as venture capitalists, and those eager to found a venture-funded start-up. For all of them, Harvard Business School professor Joseph Lassiter has some intriguing advice: Spend a few... View Details
Keywords: by Carmen Nobel; Energy; Utilities; Financial Services
  • 03 Feb 2003
  • Research & Ideas

Homeland Security: A Ready-made Market

consensus. There's an enormous chokepoint when it comes to getting the job done." It's about providing IT solutions to a complex, evolving environment.— Murray Mazer,Lumigent Technologies Even so, the federal View Details
Keywords: by Julia Hanna; Service
  • Article

California Fair Trade: Antitrust and the Politics of 'Fairness' in U.S. Competition Policy

By: Laura Phillips Sawyer
In the decades before World War II, U.S. antitrust law was anything but settled. Considerable pressure for antitrust revision came from the states. A perhaps unlikely leader, Edna Gleason, organized California's retail pharmacists and coordinated trade networks to... View Details
Keywords: Competition; Fairness; Laws and Statutes; Policy; United States
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Phillips Sawyer, Laura. "California Fair Trade: Antitrust and the Politics of 'Fairness' in U.S. Competition Policy." Business History Review 90, no. 1 (Spring 2016): 31–56.
  • 2018
  • Chapter

Between Economic Planning and Market Competition: International Law and Economics in the U.S.

By: Laura Phillips Sawyer
The impact of institutional economics in shaping the American regulatory tradition has largely been dismissed as an incoherent attack on the neoclassical economic paradigm. This essay briefly reconstructs the interwar institutionalist movement, exploring the... View Details
Keywords: Economics; History; Governing Rules, Regulations, and Reforms; Business and Government Relations; United States
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Phillips Sawyer, Laura. "Between Economic Planning and Market Competition: International Law and Economics in the U.S." In New Perspectives on the History of Political Economy, edited by Robert Fredona and Sophus A. Reinert, 349–374. New York: Palgrave Macmillan, 2018.
  • 19 Dec 2012
  • Research & Ideas

Affordable Housing: Israel and the United States

"ghost" condominiums, coupled with immigration, fuel the demand. The supply of housing is limited, due to the topography of the nation, the need to live near jobs, and the fact that the government owns 90% of the land. Add to... View Details
Keywords: by Nicolas P. Retsinas, John H. Vogel & Charles S. Laven; Construction; Real Estate
  • 19 Nov 2012
  • Research & Ideas

LEED-ing by Example

In the debate over whether to increase or decrease the stringency of environmental regulations, the possibility that government agencies might use purchasing to stimulate market demand for "green" products and services is often... View Details
Keywords: by Carmen Nobel; Construction; Real Estate; Energy; Utilities
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