Publications

Article

Kidney Exchange

By: Alvin E. Roth, Tayfun Sönmez and Utku Ünver

Keywords: Health Care and Treatment; Health Industry

March 1984 (Revised July 1985)
Background Note

Note on Exchange Rate Determination

Discusses exchange rate determination in world of flexible rates. The fundamentals of supply of and demand for foreign exchange are explained. View Details

Keywords: Currency Exchange Rate

Research Summary

Continuous Combinatorial Exchange

In multiple-good economies with many buyers and sellers (or many swappers) researchers have advocated Combinatorial Exchange generalized one-shot double auctions in which traders can express offers to buy, sell, or swap packages of goods to facilitate efficient... View Details

July 2003 (Revised August 2003)
Case

Global Healthcare Exchange

By: Lynda M. Applegate and Jamie Ladge

Founded in March 2000 at the height of the dot-com bubble, Global Healthcare Exchange (GHX) was one of 90 online marketplaces in the health care industry. The company's founders were among the largest suppliers in the industry, including Johnson & Johnson, GE Medical,... View Details

Keywords: Mergers and Acquisitions; Entrepreneurship; Price; Leadership; Growth and Development Strategy; Supply and Industry; Organizational Design; Expansion; Internet and the Web; Valuation; Health Industry

2022
Working Paper

Markups to Financial Intermediation in Foreign Exchange Markets

By: Jonathan Wallen

On average from 2013 to 2020, foreign asset managers in net sold forward 1.1 trillion U.S. dollars. This forward sale of dollars hedges the currency mismatch of foreign investment in U.S. dollar assets. By accommodating this demand, U.S. and European banks earn an... View Details

Keywords: Foreign Exchange; Financial Intermediation; Arbitrage; Market Power; Regulations; Currency; Assets; Interest Rates; Banking Industry

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February 1986 (Revised March 1989)
Background Note

Note on Foreign Exchange

Describes the operation of foreign exchange markets, including bid-offer spreads, cross rates, reciprocal rates, and forward rates. Provides several examples to demonstrate calculation of outright forward rates using discount and premium points quoted in the London... View Details

Keywords: Currency Exchange Rate; Capital Markets

October 2004 (Revised February 2007)
Background Note

Foreign Exchange Markets and Transactions

By: Mihir A. Desai, Christina Pham, Kathleen Luchs and Yanjun Wang

Provides information on the foreign exchange market and exchange rate movements. Describes the different types of foreign exchange transactions, including spot transactions, forwards, swaps, futures, and options. Includes worked examples to help students understand the... View Details

Keywords: Currency Exchange Rate

March 1987
Article

Using Survey Data to Test Standard Propositions Regarding Exchange Rate Expectations

By: J. Frankel and K. A. Froot

Keywords: Currencies; Exchange Rates; Asset Pricing; International Macroeconomics; Monetary Policy; Currency Controls; Fixed Exchange Rates; Floating Exchange Rates; Currency Bands; Currency Zones; Currency Areas; Rational Expectations; Analytics and Data Science; Finance

February 2018 (Revised October 2019)
Case

Steinhoff International and the Stock Exchange

By: Siko Sikochi and Austin Lim

Nicky Newton-King, the Chief Executive Officer of the Johannesburg Stock Exchange (JSE), was put in a difficult position. A scandal had broken out at Steinhoff, a JSE-listed company, under her watch and there were calls to suspend listing of the company securities from... View Details

Keywords: Accounting; Financial Reporting; Mergers and Acquisitions; Financial Markets; Corporate Governance; Retail Industry; Manufacturing Industry; Distribution Industry; Africa; South Africa

September 1987
Article

Short-term and Long-term Expectations of the Yen/Dollar Exchange Rate: Evidence from Survey Data

By: J. Frankel and K. A. Froot

Keywords: Currencies; Exchange Rates; Asset Pricing; International Macroeconomics; Monetary Policy; Currency Controls; Fixed Exchange Rates; Floating Exchange Rates; Currency Bands; Currency Zones; Currency Areas; Rational Expectations; Japan; United States

Fast Answer

Exchange traded funds

Where can I find information on exchange traded funds or ETFs? News and Journals ABI/ProQuest or Business Source Complete To find academic and news articles comparing exchange traded funds to index mutual... View Details

1992
Other Unpublished Work

Government Consumption and the Real Exchange Rate: The Empirical Evidence

By: K. A. Froot and K. Rogoff

Keywords: Public Sector; Currencies; Exchange Rates; Currency Union; Eurozone; The Euro; Currency Exchange Rate

March 2006
Module Note

Exchange Rates and Global Markets

By: Mihir A. Desai and Kathleen Luchs

Describes the first module of the International Finance course at Harvard Business School. This introductory module focuses on the concepts and skills that students need throughout a course on international finance: a familiarity with exchange rates and associated... View Details

Keywords: Asset Pricing; Currency Exchange Rate; Globalized Markets and Industries; International Finance; Teaching; Innovation and Invention; Education Industry

August 2013 (Revised August 2014)
Technical Note

Health Information Exchanges

By: Regina E. Herzlinger and Kyle Bertke

Companion background note to AxSys. View Details

2004
Working Paper

Pairwise Kidney Exchange

By: Alvin E. Roth, Tayfun Sonmez and M. Utku Unver

March 2005
Case

Chicago Board Options Exchange (CBOE), The

By: George C. Chacko, Anders Sjoman, Daniela Beyersdorfer and George Robert Nelson

The Chicago Board Options Exchange (CBEO) must decide how to respond to new competition in the market for financial options. Options have typically been a very liquid asset class, despite the fact that many single-name options are listed on the CBOE, the second largest... View Details

Keywords: Internet and the Web; Financial Liquidity; Financial Markets; Financial Services Industry; Chicago

August 2013 (Revised August 2014)
Case

Aon Hewitt's Private Health Insurance Exchange

By: Regina E. Herzlinger, Aiden Y. Feng and Meghan D. Oliver

Aon Hewitt, a leading health insurance broker and consultant, is one of the first movers in forming exchanges to sell health insurance. What kinds of products should it offer on this exchange? View Details

Keywords: Health Care and Treatment; Insurance

September 2000
Case

Intellectual Property Exchange (A), The

By: Lynda M. Applegate and Gavin Clarkson

As the marketplace for intellectual assets explodes, the mechanisms for liquidity and exchange have not kept pace. Bryan Benoit, partner at PricewaterhouseCoopers (PwC), believes that he has a solution. Working initially with a shoestring development budget, he has... View Details

Keywords: Global Strategy; Intellectual Property; Knowledge Management; Brands and Branding; Problems and Challenges; Networks; Internet

July 2009 (Revised June 2015)
Case

Citigroup's Exchange Offer

By: Robin Greenwood and James Quinn

Citigroup faced considerable distress in early 2009. In late 2008, the bank had accepted $45 billion in preferred equity from the United States government via the Troubled Assets Relief Program (TARP). Yet, the stock had continued to slide in early 2009. In late... View Details

Keywords: Financial Crisis; Capital Markets; Banks and Banking; Stocks; Price; Globalized Markets and Industries; Financial Services Industry