Publications
Publications
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(3,491)
- Faculty Publications (511)
- 2009
- Book
Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do About It
By: Josh Lerner
In response to the financial crisis, governments are being far more aggressive in intervening to promote economic activity, a trend that shows little tendency of alleviating. This book looks at the experiences of governments in encouraging entrepreneurs and venture... View Details
- September 2009 (Revised August 2012)
- Case
Novasys Medical
By: Richard G. Hamermesh and Lauren Barley
Novasys has developed a new medical device and procedure for the treatment of female stress urinary incontinence that is cheaper and can be performed in doctors' offices. In spite of FDA approval, the American Medical Association has been unwilling to approve the... View Details
- 2009
- Working Paper
Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act
By: Dhammika Dharmapala, C. Fritz Foley and Kristin J. Forbes
This paper analyzes the impact on firm behavior of the Homeland Investment Act of 2004, which provided a one-time tax holiday for the repatriation of foreign earnings by U.S. multinationals. The analysis controls for endogeneity and omitted variable bias by using... View Details
- 2009
- Chapter
Small and Medium Firm Lending in Mexico: Lessons and Current Issues
By: Rodrigo Canales and Ramana Nanda
Mexico is often cited as one of the world's most entrepreneurial countries in terms of the percentage of its population that has started or is in the process of starting a business venture. Yet Mexico does not seem to be very friendly to entrepreneurs, as confirmed by... View Details
- May 2009
- Article
The Empirical Impact of Intellectual Property Rights on Innovation: Puzzles and Clues
By: Josh Lerner
Economists have long seen the patent system as a crucial lever through which policymakers affect the speed and nature of innovation in the economy. It is not surprising, then, that the profound changes which have roiled the global patent system over the past 20 years... View Details
- April 2009
- Case
The First Global Financial Crisis of the 21st Century
By: Laura Alfaro and Renee Kim
The global economy was expected to suffer from negative growth for the full year in 2009, a phenomenon not seen since World War II. While the U.S. subprime mortgage disaster was blamed as the original instigator, it was noted that the "global imbalances" of the U.S.... View Details
- 2009
- Other Unpublished Work
Steering Monetary Policy Through Unprecedented Crises
By: David Moss and Cole Bolton
In early April 2008, economic conditions in Europe appeared to be deteriorating on almost all fronts: sales figures were falling, business and consumer confidence were slumping, forecasts for European growth were being revised downward, and inflation was rising. In... View Details
- 2009
- Other Unpublished Work
When Does Industrial Policy Work? Evidence from the Brazilian Ethanol Fuel Industry
By: Santiago Mingo and Tarun Khanna
What is the impact of a state-led industrial policy program on entrepreneurial activity, industry evolution, and firm competitiveness? How and when is industrial policy an effective tool to spur the development of an emerging industry? To address these questions, we... View Details
- Article
Why Doesn't Capitalism Flow to Poor Countries?
By: Rafael Di Tella and Robert MacCulloch
We show that capitalism is far from common around the world. Outside a small group of rich countries, heavy regulation of business, leftist rhetoric, and interventionist beliefs flourish. We relate these phenomena to the presence of corruption, with causality running... View Details
- February 2009 (Revised December 2010)
- Case
Upgrading the Economy: Industrial Policy and Taiwan's Semiconductor Industry
By: Willy C. Shih and Jyun-Cheng Wang
The government-led creation and incubation of the semiconductor industry in Taiwan is a striking success for advocates of strong industrial policy. It has led to the island nation's domination of the global "foundry" business in which firms like Taiwan Semiconductor... View Details
- February 2009 (Revised September 2009)
- Supplement
Yahoo! in China (B)
By: Sandra J. Sucher and Daniel Baer
Describes the actions that Jerry Yang took to manage the aftermath of the Shi Tao incident following the 2007 Congressional hearing. View Details
- February 2009
- Article
Optimal Reserve Management and Sovereign Debt
By: Laura Alfaro and Fabio Kanczuk
Most models currently used to determine optimal foreign reserve holdings take the level of international debt as given. However, given the sovereign's willingness-to-pay incentive problems, reserve accumulation may reduce sustainable debt levels. In addition, assuming... View Details
- January 2009 (Revised February 2010)
- Case
Necessity and Invention: Monetary Policy Innovation and the Subprime Crisis
By: Aldo Musacchio and Dante Roscini
This case describes the efforts of Ben Bernanke, Chairman of the Federal Reserve, to improve liquidity in money markets during the subprime crisis. The case explains the four main new tools for monetary policy (or quantitative easing) the Federal Reserve has used... View Details
- 2009
- Working Paper
An Ounce of Prevention: The Power of Public Risk Management in Stabilizing the Financial System
By: David A. Moss
The magnitude of the current financial crisis reflects the failure of an economic and regulatory philosophy that had proved increasingly influential in policy circles over the past three decades.
This paper suggests (1) that contrary to the prevailing wisdom,... View Details
- December 2008 (Revised October 2012)
- Case
Special Economic Zones in India: Public Purpose and Private Property (A)
By: Laura Alfaro and Lakshmi Iyer
In 2005, the government of India enacted the Special Economic Zones (SEZ) Act in order to attract investment, generate export revenues, and create manufacturing jobs. However, several planned projects faced difficulties in acquiring land for setting up the SEZ. In... View Details
- December 2008
- Article
The Teaching of Strategy: From General Manager to Analyst and Back Again?
By: Joseph L. Bower
Courses in strategy are an outgrowth of the business policy course first taught at Harvard Business School in 1912. This article examines how the teaching of a course concerned with the development and implementation of the goals and policies of a firm changed during... View Details
- November 2008 (Revised October 2009)
- Case
American Cancer Society: Access to Care
By: Robert L. Simons and Kathryn Rosenberg
CEO John Seffrin decides to radically change the strategy of the American Cancer Society. The new Access to Care strategy relies on advocacy to change public policy and increase the number of Americans eligible for cancer prevention and treatment. The new strategy... View Details
- October 2008
- Case
Financial Crisis in Asia: 1997-1998 (Abridged)
By: Huw Pill, Rafael M. Di Tella and Jonathan Schlefer
What caused the 1997-98 Asia Crisis: Asian nations' poor economic management, international financial contagion, close "crony" relations between local politicians and capitalists? This case examines how the crisis erupted in Thailand and spread in a chain of events... View Details
- 2008
- Working Paper
The Decentering of the Global Firm
By: Mihir A. Desai
This paper describes recent changes in the relationship between firms and nation states. Firms are typically linked to the nation in which they began and are considered to have fixed national identities. While firms have reallocated various activities around the world... View Details
- June 2008 (Revised August 2008)
- Case
The Suzlon Edge
By: Richard H.K. Vietor and Juliana Seminerio
With prices of oil, coal and gas at historically high levels, the wind industry had installed more than 20,000 MW of wind energy, representing a $37 billion investment in 2007. Besides high prices, wind energy represented a solution for consumers seeking an energy... View Details