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  • Article

Weak Corporate Insolvency Rules: The Missing Driver of Zombie Lending

By: Bo Becker and Victoria Ivashina
"Zombie lending"—lending to less-productive firms at subsidized rates—can help banks with misaligned incentives in the short run, but it prolongs economic downturns. We propose that inefficient resolution of insolvency is a significant contributor to this problem. We... View Details
Keywords: Zombie Credit; Insolvency and Bankruptcy; Financing and Loans; Economic Slowdown and Stagnation
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  • 24 Aug 2015
  • Working Paper Summaries

Multi-Product Duopoly with Cross-Product Cost Interdependencies

  • Article

An Exploration of Optimal Stabilization Policy

By: N. Gregory Mankiw and Matthew C. Weinzierl
This paper examines the optimal response of monetary and fiscal policy to a decline in aggregate demand. The theoretical framework is a two-period general equilibrium model in which prices are sticky in the short-run and flexible in the long-run. Policy is evaluated by... View Details
Keywords: Fiscal Policy; Monetary Policy; Economic Models; Aggregate Demand; Demand and Consumers; Money; Mathematical Methods; Taxation; Spending; Policy; Welfare; Household; Economic Slowdown and Stagnation
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  • October 29, 2020
  • Article

How to Build a Digital Brand That Lasts

By: William Collis and David Collis
What makes a brand durable even as business models, technology and consumer behavior radically change? The key is that durable brands are adaptable brands—even legacy ones. To create durability, apply the MACE framework: 1) Mastery: Give your consumers... View Details
Keywords: Brands and Branding; Business Model; Adaptation; Framework
Related
  • 11 Apr 2019
  • HBS Seminar

Gabriel Szulanski, INSEAD

    How to Build a Digital Brand That Lasts

    What makes a brand durable even as business models, technology and consumer behavior radically change? They key is that durable brands are adaptable brands — even legacy ones. To create durability, apply the MACE framework: 1) Mastery: Give your consumers... View Details
    • March 2015
    • Article

    Monetary Policy and Long-Term Real Rates

    By: Samuel G. Hanson and Jeremy C. Stein
    Changes in monetary policy have surprisingly strong effects on forward real rates in the distant future. A 100 basis point increase in the two-year nominal yield on a Federal Open Markets Committee announcement day is associated with a 42 basis point increase in the... View Details
    Keywords: Policy; Interest Rates; Economics
    Related
    • 2015
    • Working Paper

    Can Marshall's Clusters Survive Globalization?

    By: Giulio Buciuni and Gary P. Pisano
    It is widely presumed that in today's globalized economy, the value of geographic clustering of manufacturing industries is no longer valuable. Manufacturing is represented as a highly mobile "commodity" that can be sourced from anywhere in the world where factor costs... View Details
    Keywords: Manufacturing; Globalization; Marshall Industrial Clusters; Global Supply Chains; Manufacturing Industry
    Related
    • November 2023 (Revised January 2024)
    • Case

    Bridgit: Persevere or Pivot?

    By: Reza Satchu and Patrick Sanguineti
    In late 2012, Mallorie Brodie and Lauren Lake, two young women in their final year of college, founded Bridgit, a technology startup that developed solutions to simplify vital but laborious processes within the construction industry. In the Fall of 2013, after months... View Details
    Keywords: Entrepreneur; Founder; Co-founders; Women Executives; Pivot; Startup; Business Model; Business Startups; Entrepreneurship; Applications and Software; Product Launch; Research and Development; Competition; Construction Industry; Technology Industry; United States; Canada
    Related
    • 10 Jan 2012
    • First Look

    First Look: January 10

      PublicationsGlobal, Local, and Contagious Investor Sentiment Authors:Malcolm Baker, Jeffrey Wurgler, and Yu Yuan Publication:Journal of Financial Economics (forthcoming) Abstract We construct investor sentiment indices for six major stock markets and decompose them... View Details
    Keywords: Sean Silverthorne
    • 15 May 2024
    • Research & Ideas

    A Major Roadblock for Autonomous Cars: Motorists Believe They Drive Better

    people ages 2 through 59, with some 98 percent of accidents tied to human error. And accidents cost $340 billion, or 1.6 percent, of US Gross Domestic Product in 2023, according to the US National Highway Traffic Safety Administration. But automating cars meets View Details
    Keywords: by Rachel Layne; Transportation; Auto
    • 28 May 2024
    • In Practice

    Job Search Advice for a Tough Market: Think Broadly and Stay Flexible

    ground running. Letian (LT) Zhang is an Assistant Professor of Business Administration in the Organizational Behavior Unit at HBS. You Might Also Like: The Middle Manager of the Future: More Coaching, Less Commanding Checking Your Ethics: Would You Speak Up in These 3... View Details
    Keywords: by Rachel Layne
    • 16 Jan 2006
    • Research & Ideas

    What Customers Want from Your Products

    "Tell me about a time when you were in the same situation but you didn't buy a milk shake. What did you buy instead?" Sometimes, he learned, they bought a bagel. But bagels were too dry. Bagels with cream cheese or jam resulted in View Details
    Keywords: by Clayton M. Christensen, Scott Cook & Taddy Hall; Consumer Products
    • 11 Apr 2023
    • Research & Ideas

    Is Amazon a Retailer, a Tech Firm, or a Media Company? How AI Can Help Investors Decide

    they are representative. I feel the S&P 500 could have a challenge down the road as an index, in my opinion, that is even more representative of the market and therefore give investors more of an idea of where they should actually allocate their funding.... View Details
    Keywords: by Danielle Kost; Consumer Products; Real Estate; Financial Services; Retail
    • 01 Mar 2024
    • News

    Game On

    It’s raining in Sarasota. And not a light sprinkle but a proper, Florida drenching, so the outdoor courts at the Pickleball Club’s Lakewood Ranch location are deserted. Inside is a different story. Most of the 12 courts are in play. With four people to a court, all... View Details
    Keywords: Jen McFarland Flint; photographed by Edward Linsmier; Amusement, Gambling, and Recreation Industries; Arts, Entertainment
    • 01 Dec 2023
    • News

    Thinking Ahead

    it doesn’t become a habit once insurance stops paying for the program; there isn’t the same social, sticky quality Lee herself discovered when she started rowing on the lightweight crew team in college. “What if there was an option that... View Details
    Keywords: Julia Hanna; Illustrations by Chris Gash; News, Library, Internet, and Other Services; Information
    • 16 Feb 2023
    • HBS Case

    ESG Activists Met the Moment at ExxonMobil, But Did They Succeed?

    The impact-investment hedge fund Engine No. 1 made a big splash in May 2021 when it managed to get three nominees elected to the ExxonMobil board of directors. It was an open effort to prod the oil giant toward renewable energy and test whether activist investing could... View Details
    Keywords: by Lane Lambert; Financial Services
    • 28 Jun 2021
    • Research & Ideas

    Keep or Cut Workers? How Companies Reacted to the COVID-19 Crisis

    and fast-food chains. Companies with fewer sticky costs laid off workers at the same rate regardless of how much cash they had in reserve. “There were clear winners and losers early on,” Rouen says. “It was heartbreaking to see companies... View Details
    Keywords: by Lane Lambert
    • 01 Sep 2023
    • News

    Case Study: The Home Team

    Illustration by Jon Krause Illustration by Jon Krause Brendan Kennealey (MBA 2006) wasn’t even searching for a business idea. A couple of years ago, the Wilmington, Delaware, native met up with an old friend who’d bought a new house. Over dinner this friend enumerated... View Details
    Keywords: Jen McFarland Flint; Real Estate
    • 20 Dec 2017
    • Lessons from the Classroom

    How to Design a Better Customer Experience

    solved and it wasn’t even the hotel’s fault. Our booking agent had made a mistake.” The good deed that keeps on giving “Does it make economic sense to go over the top with it?” Thomke asks. “I would say ‘yes’ because it creates that View Details
    Keywords: by Dina Gerdeman; Health; Entertainment & Recreation