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- Faculty Publications (88)
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- All HBS Web (127)
- Faculty Publications (88)
- 2008
- Working Paper
Minimally Altruistic Wages and Unemployment in a Matching Model
By: Julio J. Rotemberg
This paper presents a model in which firms recruit both unemployed and employed workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998)... View Details
Rotemberg, Julio J. "Minimally Altruistic Wages and Unemployment in a Matching Model." NBER Working Paper Series, No. 13755, February 2008.
- November 2012 (Revised April 2013)
- Case
Perspectives on the Great Depression
By: Julio J. Rotemberg
The case assembles texts giving perspectives on the Great Depression by Franklin Delano Roosevelt, John Maynard Keynes, Milton Friedman, Anna Schwartz and Ben Bernanke. This should allow for a discussion of the role of fiscal and monetary policies in reaching and... View Details
Keywords: Great Depression; Keynesian Multiplier; Monetary Policy; Zero Lower Bound Of Interest Rates; Role Of Expectations In Macroeconomics; Performance Expectations; History; Policy; Interest Rates; Macroeconomics
Rotemberg, Julio J. "Perspectives on the Great Depression." Harvard Business School Case 713-056, November 2012. (Revised April 2013.)
- 2012
- Working Paper
Prominent Job Advertisements, Group Learning and Wage Dispersion
By: Julio J. Rotemberg
A model is presented in which people base their labor search strategy on the average wage and the average unemployment duration of people who belong to their peer group. It is shown that, if the distribution of wage offers is not stationary so lower wage offers tend to... View Details
Rotemberg, Julio J. "Prominent Job Advertisements, Group Learning and Wage Dispersion." NBER Working Paper Series, No. 18638, December 2012.
- 13 Dec 2011
- First Look
First Look: Dec. 13
http://www.hbs.edu/research/pdf/12-039.pdf Charitable Giving When Altruism and Similarity Are Linked Authors:Julio J. Rotemberg Abstract This paper presents a model in which anonymous charitable donations... View Details
Keywords: Sean Silverthorne
- December 2003 (Revised April 2005)
- Case
Birth of Modern Macroeconomic Policy, The: Sweden and the Great Depression
By: Julio J. Rotemberg and Lisa Lewis
By early 1937, a debate over the proper conduct of monetary policy raged in Sweden. Sweden's response to the Great Depression was unique. It had, in particular, embraced a revolutionary goal for monetary policy when it abandoned the gold standard in 1931. View Details
Rotemberg, Julio J., and Lisa Lewis. "Birth of Modern Macroeconomic Policy, The: Sweden and the Great Depression." Harvard Business School Case 704-029, December 2003. (Revised April 2005.)
- January 2014 (Revised February 2014)
- Case
Japan: Betting on Inflation?
By: Julio J. Rotemberg
The case focuses on the challenges still confronting Prime Minister Shinzo Abe at the end of 2013, a year after he has been in office. It also gives an overview of Japan's earlier economic performance, focusing primarily on the period after it suffered a stock market... View Details
Rotemberg, Julio J. "Japan: Betting on Inflation?" Harvard Business School Case 714-040, January 2014. (Revised February 2014.)
- July 2015
- Article
A Behavioral Model of the Popularity and Regulation of Demandable Liabilities
By: Julio J. Rotemberg
Overoptimism regarding one's ability to arrive early in a queue is shown to rationalize deposit contracts in which people can withdraw their funds on demand even if consumption takes place later. Capitalized institutions serving overoptimistic depositors emerge in... View Details
Rotemberg, Julio J. "A Behavioral Model of the Popularity and Regulation of Demandable Liabilities." American Economic Journal: Macroeconomics 7, no. 3 (July 2015): 123–152.
- 2010
- Working Paper
A Behavioral Model of Demandable Deposits and Its Implications for Financial Regulation
By: Julio J. Rotemberg
A model is developed that rationalizes contracts that give depositors the right to obtain funds on demand even when depositors intend to use these funds for consumption in the future. This is explained by depositor overoptimism regarding their own ability to collect... View Details
Keywords: Banks and Banking; Insurance; Governing Rules, Regulations, and Reforms; Policy; Consumer Behavior; Financial Services Industry
Rotemberg, Julio J. "A Behavioral Model of Demandable Deposits and Its Implications for Financial Regulation." NBER Working Paper Series, No. 16620, December 2010.
- December 2010
- Article
Altruistic Dynamic Pricing with Customer Regret
By: Julio J. Rotemberg
A model is considered where firms internalize the regret costs that consumers experience when they see an unexpected price change. Regret costs are assumed to be increasing in the size of price changes and this can explain why the size of price increases is less... View Details
Keywords: Cost; Price; Change; Inflation and Deflation; Cost Management; Customers; Practice; Announcements; Forecasting and Prediction
Rotemberg, Julio J. "Altruistic Dynamic Pricing with Customer Regret." Scandinavian Journal of Economics 112, no. 4 (December 2010).
- 2009
- Working Paper
Altruistic Dynamic Pricing with Customer Regret
By: Julio J. Rotemberg
A model is considered where firms internalize the regret costs that consumers experience when they see an unexpected price change. Regret costs are assumed to be increasing in the size of price changes and this can explain why the size of price increases is less... View Details
- October 2011
- Article
Fair Pricing
By: Julio J. Rotemberg
This paper explores the consequences of supposing that consumers see a firm as fair if they cannot reject the hypothesis that the firm is somewhat benevolent towards them. When consumers can reject this hypothesis, some become angry, which is costly to the firm. The... View Details
Rotemberg, Julio J. "Fair Pricing." Journal of the European Economic Association 9, no. 5 (October 2011).
- 2010
- Working Paper
Quality Provision, Expected Firm Altruism and Brand Extensions
By: Julio J. Rotemberg
This paper studies quality choice in a model where consumers expect firms to act altruistically. It is shown that, under plausible assumptions regarding this altruism and the reaction of consumers to firms that demonstrate insufficient altruism, existing firms (or... View Details
Keywords: Brands and Branding; Consumer Behavior; Product Development; Corporate Social Responsibility and Impact; Quality; Mathematical Methods
Rotemberg, Julio J. "Quality Provision, Expected Firm Altruism and Brand Extensions." NBER Working Paper Series, No. 15635, January 2010.
- 2009
- Chapter
Behavioral Aspects of Price Setting, and Their Policy Implications
By: Julio J. Rotemberg
This paper starts by discussing consumers' cognitive and emotional reaction to posted prices. Cognitively, some consumers do not appear to make effective use of price information to maximize their consumption-based utility. Emotionally, prices can induce regret and... View Details
- 2008
- Working Paper
Behavioral Aspects of Price Setting, and Their Policy Implications
By: Julio J. Rotemberg
This paper starts by discussing consumers' cognitive and emotional reaction to posted prices. Cognitively, some consumers do not appear to make effective use of price information to maximize their consumption-based utility. Emotionally, prices can induce regret and... View Details
Rotemberg, Julio J. "Behavioral Aspects of Price Setting, and Their Policy Implications." NBER Working Paper Series, No. 13754, February 2008.
- 2008
- Working Paper
Liquidity Needs in Economies with Interconnected Financial Obligations
By: Julio J. Rotemberg
A model is developed where firms in a financial system have to settle their debts to each other by using a liquid asset. The question that is studied is how many firms must obtain how much of this asset from outside the financial system to make sure that all debts... View Details
Rotemberg, Julio J. "Liquidity Needs in Economies with Interconnected Financial Obligations." NBER Working Paper Series, No. 14222, August 2008.
- September 2006 (Revised August 2007)
- Case
The Dubai Ports World Debacle and its Aftermath
By: Julio J. Rotemberg
Describes the political ramifications in the United States of Dubai-based DP World's acquisition of London-based Peninsular and Oriental Steam Navigation Company (P&O). Because P&O operated some port terminals in the United States, DP World obtained clearance from the... View Details
Keywords: Foreign Direct Investment; Multinational Firms and Management; Governing Rules, Regulations, and Reforms; Government Legislation; National Security; Business and Government Relations; Ship Transportation; Dubai; United States
Rotemberg, Julio J. "The Dubai Ports World Debacle and its Aftermath." Harvard Business School Case 707-014, September 2006. (Revised August 2007.)
- January 2008 (Revised May 2008)
- Case
Subprime Meltdown: American Housing and Global Financial Turmoil
By: Julio Rotemberg
This case focuses on the financial difficulties faced in the U.S. from August to December 2006 as well as their roots in subprime lending. After briefly discussing how mortgages were structured and traded in the pre-1990 period, it describes subprime mortgage lending,... View Details
Keywords: Financial Crisis; Insolvency and Bankruptcy; Central Banking; Financial Markets; Mortgages; Governing Rules, Regulations, and Reforms; Policy; United States
Rotemberg, Julio. "Subprime Meltdown: American Housing and Global Financial Turmoil." Harvard Business School Case 708-042, January 2008. (Revised May 2008.)
- 2014
- Article
Models of Caring, or Acting as if One Cared, About the Welfare of Others
By: Julio J. Rotemberg
This paper surveys the theoretical literature in which people are modeled as taking other people's payoffs into account either because this affects their utility directly or because they wish to impress others with their social-mindedness. Key experimental results that... View Details
Rotemberg, Julio J. "Models of Caring, or Acting as if One Cared, About the Welfare of Others." Annual Review of Economics 6 (2014): 129–154.
- April 2001 (Revised June 2001)
- Case
Competition Policy in the European Union and the Power of Microsoft
By: Julio J. Rotemberg and Michelle Kalka
Focuses on a decision by the European Competition Commissioner Mario Monti about U.S.-based Microsoft Corp. Sun has complained to the commission that Microsoft has installed components in its desktop operating system that only "talk" to Microsoft operating systems for... View Details
Keywords: Competition; Law; Emerging Markets; Information Technology; Policy; Computer Industry; Electronics Industry; European Union; United States
Rotemberg, Julio J., and Michelle Kalka. "Competition Policy in the European Union and the Power of Microsoft." Harvard Business School Case 701-043, April 2001. (Revised June 2001.)
- 27 May 2009
- First Look
First Look: May 27, 2009
consumption growth by a representative agent with a high elasticity of intertemporal substitution. This paper documents several empirical difficulties for the model as calibrated by Bansal and Yaron (BY,... View Details
Keywords: Martha Lagace