Publications

March 2012
Article

Subprime Foreclosures and the 2005 Bankruptcy Reform

By: Donald Morgan, Benjamin Iverson and Matthew Botsch

This article presents arguments and evidence suggesting that the bankruptcy abuse reform (BAR) of 2005 may have been one contributor to the destabilizing surge in subprime foreclosures. Before BAR took effect, overly indebted borrowers could file bankruptcy to free up... View Details

Keywords: Mortgages; Insolvency and Bankruptcy; Governing Rules, Regulations, and Reforms; Borrowing and Debt; United States

February 2012 (Revised June 2013)
Case

Moving to Universal Coverage: Health Care Reform in Massachusetts

By: Michael E. Porter and Jennifer F Baron

State health care reform in Massachusetts has involved a phased process, focusing first on coverage expansion and then turning to delivery system innovation and cost containment. In 2006, the state adopted an individual mandate to obtain health care coverage which,... View Details

Keywords: Health Care and Treatment; Business and Government Relations; Insurance; Massachusetts

2014
Working Paper

Crony Capitalism, American Style: What Are We Talking About Here?

By: Malcolm S. Salter

This paper seeks to reduce the ambiguity surrounding our understanding of what crony capitalism is, what it is not, what costs crony capitalism leaves in its wake, and how we might contain it. View Details

Keywords: Democracy; Industrial Governance; Institutional Corruption; Crony Capitalism; Lobbying; Campaign Finance; Costs; Cronyism; Business Ethics; Campaign Finance Reform; Revolving Door; Economic Systems; Ethics; Political Elections; Financing and Loans; United States

SSRN

April 2012
Case

Credit Rating Agency Reform in the US and EU

By: Robert C. Pozen and Brian Conroy

The purpose of this note is to explore reform options for the credit rating industry. The note examines the ways in which credit rating agencies contributed to the recent financial crisis, particularly through ratings of securitized products and sovereign debt. It... View Details

Keywords: Debt Securities; Financial Condition; Standards; Financial Crisis; Corporate Finance; Financial Services Industry; United States; European Union

08 Sep 2003
Research & Ideas

A Bold Proposal for Investment Reform

For companies to redeem credibility with investors, argue Harvard Business School professors Paul Healy and Krishna Palepu, "fundamental and even radical reforms must be made to the way America's markets process the flows of... View Details

Keywords: by Ann Cullen; Financial Services

February 1997 (Revised October 2002)
Case

Mexico (C): Reform and Crisis, 1987-1995

By: Huw Pill

Describes the evolution of the Mexican economy and its relation with the international capital markets in the period leading up to the Peso crisis of December 1994. Emphasizes the role of "Washington consensus" policies in stimulating the inflows, and the inability of... View Details

Keywords: Globalized Economies and Regions; Capital Markets; Financial Crisis; Macroeconomics; Mexico

December 2020
Article

The Employment Effects of Faster Payment: Evidence from the Federal Quickpay Reform

By: Jean-Noel Barrot and Ramana Nanda

We study the impact of Quickpay, a federal reform that indefinitely accelerated payments to small business contractors of the U.S. government. We find a strong direct effect of the reform on employment growth at the firm level. Importantly, however, we also... View Details

Keywords: Small Business; Employment; Business and Government Relations; Governing Rules, Regulations, and Reforms

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March 2004 (Revised May 2006)
Background Note

Corporate Reform in the United States

By: Lynn S. Paine and Kim Bettcher

The spate of corporate misdeeds revealed to the American public in 2001 to 2002 prompted corrective action in many quarters of the U.S. economy. The note summarizes some of the steps taken by lawmakers, regulators, law-enforcement officials, companies, investors,... View Details

Keywords: Corporate Governance; Capital Markets; Governing Rules, Regulations, and Reforms; Trust; United States

December 2010
Case

Financing Higher Education in Australia

By: David A. Moss and Stephanie Lo

Even before Australian lawmakers abolished university tuition in 1973, students in Australia had long benefited from low tuition and large government subsidies. By the early 1980s, however, the nation's universities faced growing budget challenges and an apparent... View Details

Keywords: Economic Slowdown and Stagnation; Higher Education; Borrowing and Debt; Governing Rules, Regulations, and Reforms; Policy; Education Industry; Australia

30 Oct 2014
Working Paper Summaries

Housing Collateral, Credit Constraints, and Entrepreneurship-Evidence from a Mortgage Reform

Keywords: by Thais Laerkholm Jensen, Søren Leth-Petersen & Ramana Nanda; Construction; Real Estate; Financial Services

03 Jan 2007
Working Paper Summaries

Banking Deregulation, Financing Constraints and Entrepreneurship

Keywords: by William Kerr & Ramana Nanda; Banking

June 2000 (Revised June 2000)
Case

Economic Reform in the Czech Republic: Velvet Revolution or Velvet Blanket?

By: Bruce R. Scott and Thomas S. Mondschean

Describes the economic reforms from 1990 to 1998, their success, the subsequent 1997 crisis, and the fall of the Klaus government. View Details

Keywords: History; Sovereign Finance; Development Economics; Privatization; Policy; Government and Politics; Economics; Czech Republic

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March 2, 2010
Article

The Easy Recipe for Financial Reform

By: Robert C. Pozen

Keywords: Finance; Governing Rules, Regulations, and Reforms

March 2012
Article

How to Make Finance Work

By: Robin Greenwood and David S. Scharfstein

Once a sleepy old boys' club, the U.S. financial sector is now a dynamic and growing business that attracts the best and the brightest. It is tempting to declare the industry a roaring success. But its purpose is to serve the needs of U.S. households and firms, and by... View Details

Keywords: Business Ventures; Value; Competitive Advantage; Investment; Performance Evaluation; Household; Financial Crisis; Finance; Financial Services Industry; United States

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23 Nov 2009
Research & Ideas

Management’s Role in Reforming Health Care

think we can stop health-care reform if and when we come to agreement about an optimal insurance model," says Bohmer. "For me, insurance reform is a necessary but not sufficient component of... View Details

Keywords: by Martha Lagace; Health

08 May 2006
Lessons from the Classroom

Writing the Case for Public School Reform

Campaign for Human Capital at the School District of Philadelphia" examines one district's innovative approach to recruiting and retaining qualified teachers; "Reinventing Human Resources at the School District of... View Details

Keywords: by Julia Hanna; Education

2008
Working Paper

Cost of External Finance and Selection into Entrepreneurship

By: Ramana Nanda

This paper examines the extent to which the positive relationship between personal wealth and entry into entrepreneurship is due to financing constraints. I exploit a tax reform and use unique micro-data from Denmark to study how exogenous changes in the cost of... View Details

Keywords: Business Startups; Entrepreneurship; Cost; Financing and Loans; Personal Finance; Human Capital; Wealth; Denmark

2018
Chapter

Behavioral Household Finance

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian

This chapter provides an overview of household finance. The first part summarizes key facts regarding household financial behavior, emphasizing empirical regularities that are inconsistent with the standard classical economic model and discussing extensions of the... View Details

Keywords: Personal Finance; Global Range; Household; Behavior; Strategy; Governing Rules, Regulations, and Reforms; Product Design; Welfare