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  • 10 Feb 2009
  • First Look

First Look: February 10, 2009

2005, the U.S. dollar (particularly in relation to the Canadian dollar) and the euro and Swiss franc (particularly in the second half of the period) have moved against world equity markets. Thus these currencies should be attractive to risk-minimizing global equity... View Details
Keywords: Martha Lagace
  • January 2013 (Revised April 2017)
  • Supplement

Maxum Petroleum, Inc.

By: W. Carl Kester
Maxum seeks an oil-price hedging strategy that yields substantial cash during oil price spikes, is affordable under ordinary circumstances, and is easily managed. It is striving to avoid a repeat of the challenging situation encountered in 2008 when spiking oil prices... View Details
Keywords: Hedging; Options; Commodities; Credit Derivatives and Swaps; Risk Management; Futures and Commodity Futures; Financial Strategy; Volatility
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  • 21 May 2007
  • Research & Ideas

Fixing the Marketing-CEO Disconnect

low growth and declining margins. The presumption of organic growth is baked into most companies' stock value, but many companies and their boards are faced with a requirement for organic growth that they're unsure how to meet. For these... View Details
Keywords: by Sean Silverthorne
  • 20 Dec 2011
  • First Look

First Look: December 20

teams are exacerbated when teams are leaderless, undermining performance. A longitudinal study of multicultural MBA study teams found that in the early stage of team formation, teams with a low average level of, but moderate degree of... View Details
Keywords: Carmen Nobel
  • 11 Dec 2018
  • First Look

New Research and Ideas, December 11, 2018

Pflueger, Carolin E., Emil Siriwardane, and Adi Sunderam Abstract—We propose a new measure of the economy’s risk appetite based on the valuation of volatile stocks. Unlike proxies for risk appetite derived from aggregates, our measure is... View Details
Keywords: Dina Gerdeman
  • 28 Feb 2012
  • First Look

First Look: Feb. 28

political and economic elite help explain the low achievement levels of these four countries and the incredible amount of heterogeneity within each of them. Download the paper: http://www.nber.org/papers/w17852 Expertise Dissensus: A... View Details
Keywords: Sean Silverthorne
  • 19 Jun 2012
  • First Look

First Look: June 19

  PublicationsFood for Thought? Trust Your Unconscious When Energy Is Low Authors:Maarten Bos, Ap Dijksterhuis, and Rick B. Van Baaren Publication:Journal of Neuroscience, Psychology and Economics 5, no. 2 (May 2012) Abstract Recent... View Details
Keywords: Sean Silverthorne
  • 28 Sep 2010
  • First Look

First Look: September 28, 2010

explain the following stylized facts: (1) U.S. and Mexican output co-move more than consumption, (2) U.S. shocks have a larger effect on Mexico than in the U.S., (3) U.S. business cycles lead over medium-term fluctuations in Mexico, and (4) Mexican consumption is more... View Details
Keywords: Sean Silverthorne
  • 20 Aug 2013
  • First Look

First Look: August 20

too volatile given the mean reversion in earnings. We show that high current ship earnings are associated with high secondhand ship prices and heightened industry investment in fleet capacity but forecast View Details
Keywords: Anna Secino
  • 25 Jan 2010
  • Research & Ideas

A Macroeconomic View of the Current Economy

economists worry a lot about how a country can increase its GDP growth rate, how higher growth of output can be achieved over the long term, and how we can make sure that in the short term total output isn't unduly volatile (with... View Details
Keywords: by Sean Silverthorne
  • 14 Jul 2020
  • Research & Ideas

Restarting Under Uncertainty: Managerial Experiences from Around the World

As economies reopen after forced shutdowns caused by COVID-19, managers around the world are faced with a dual challenge: keep the workforce safe while preserving business viability in an evolving and volatile market. How should... View Details
Keywords: by Raffaella Sadun, Andrea Bertoni, Alexia Delfino, Giovanni Fassio, and Mariapaola Testa
  • 27 Oct 2009
  • First Look

First Look: October 27

Working Papers Money or Knowledge? What Drives Demand for Financial Services in Emerging Markets? (revised) Authors: Shawn Cole, Thomas Sampson, and Bilal Zia Abstract Why is demand for formal financial services low in emerging markets?... View Details
Keywords: Martha Lagace
  • 23 Jan 2018
  • First Look

First Look at New Research and Ideas, January 23, 2018

Review of Financial Studies Structural GARCH: The Volatility-Leverage Connection By: Engle, Robert F., and Emil N. Siriwardane Abstract—During the financial crisis, financial firm leverage and volatility both rose dramatically.... View Details
Keywords: Sean Silverthorne
  • 24 Sep 2013
  • First Look

First Look: September 24

macro components. The micro component comes from the selection of low beta stocks. The macro component comes from the selection of low beta countries or industries. The two parts both contribute to the View Details
Keywords: Sean Silverthorne
  • 19 May 2015
  • First Look

First Look: May 19

decreased volatility of supply shocks and increased volatility of the Fed's long-run inflation target. Endogenous responses of bond risk premia amplify these effects of monetary policy on bond risks.... View Details
Keywords: Sean Silverthorne
  • 15 Jul 2008
  • First Look

First Look: July 15, 2008

  Working PapersInvestable Tax Credits: The Case of the Low Income Housing Tax Credit Authors:Mihir A. Desai, Dhammika Dharmapala, and Monica Singhal Abstract The Low Income Housing Tax Credit (LIHTC)... View Details
Keywords: Martha Lagace
  • 29 Sep 2003
  • Research & Ideas

Why Managing Innovation is Like Theater

destination in advance. Whether you're designing a new product, running a business in volatile conditions, operating a process that might encounter unforeseen inputs, or just trying to figure out what to do with your life, the journey... View Details
Keywords: by Rob Austin & Lee Devin
  • 27 May 2009
  • First Look

First Look: May 27, 2009

  Working PapersThe Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment Authors:Jason Beeler and John Y. Campbell Abstract The long-run risks model of asset prices explains stock price variation as a response to persistent fluctuations in the mean... View Details
Keywords: Martha Lagace
  • 06 Feb 2006
  • What Do You Think?

Should CEOs of Public Companies Offer Earnings Guidance?

an average -3.6 percent three-day return around the announcement to stop guidance. . . . After the elimination of guidance, stock prices lead earnings less, but there is no change in overall stock return volatility or analyst attention.... View Details
Keywords: by James Heskett; Financial Services
  • 28 Oct 2014
  • First Look

First Look: October 28

endogenous investment response of their competitors. As a result, firms overpay for ships and overinvest in booms and are disappointed by the subsequent low returns. Formal estimation of the model suggests that modest expectational errors... View Details
Keywords: Carmen Nobel

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