Publications

21 Jul 2015
First Look

First Look: July 21, 2015

link: https://www.hbs.edu/faculty/Pages/item.aspx?num=49386 Working Papers Networks and the Macroeconomy: An Empirical Exploration By: Acemoglu, Daron, Ufuk Akcigit, and William Kerr Abstract—The propagation of macroeconomic shocks... View Details

Keywords: Sean Silverthorne

06 Jan 2003
What Do You Think?

China: The Next Big Market Opportunity or the Next Big Bubble?

overestimating the speed and magnitude of possible investment returns. First, what's the amount of risk at the macroeconomic level? Wenbin Guo suggests that it is lower than most people think, primarily because of the vast, diverse nature... View Details

Keywords: by James Heskett

Web

FAQ - U.S. Competitiveness

economy. What do macroeconomic data suggest about U.S. competitiveness? In the lower and middle strata of the income distribution, household incomes have remained stagnant in real terms for decades. Long-run growth rates in private-sector... View Details

September 2011 (Revised March 2014)
Case

Liberia

By: Eric Werker and Jasmina Beganovic

From 1989 to 2003 civil war raged in Liberia, causing GDP per capita to drop an unprecedented 90% from peak to trough. The roots of Liberia's conflict and economic decline are complex and intertwined, resting on over a century of discriminatory elite rule and twisted... View Details

Keywords: War; Developing Countries and Economies; Financial Crisis; Government and Politics; Macroeconomics; Liberia

2023
Working Paper

The Credit Supply Channel of Monetary Policy Tightening and Its Distributional Impacts

By: Joshua Bosshardt, Marco Di Maggio, Ali Kakhbod and Amir Kermani

This paper studies how tightening monetary policy transmits to the economy through the mortgage market and sheds new light on the distributional consequences at both the individual and regional levels. We find that credit supply factors, specifically restrictions on... View Details

Keywords: Policy; Borrowing and Debt; Credit; Mortgages; Macroeconomics

May 2023
Case

Uruguay: South America's Singapore?

By: Richard Vietor

Uruguay, the richest country in Latin America and the only one that has not turned to the left, suffers from slow growth, high inflation and a weak education system. President Lacrolle Pou has two more years in office to reform these problems. View Details

Keywords: Macroeconomics; Economic Slowdown and Stagnation; Inflation and Deflation; Government Administration; Latin America; Uruguay

March 2011 (Revised December 2017)
Background Note

The IMF: The Washington Consensus, the Critics, and the New Challenges as China Rises

By: Rafael M. Di Tella, Natalie Kindred and Monica Baraldi

How the International Monetary Fund (IMF) defines and carries out its mandate has evolved considerably since 1944, when it was founded to serve a vital but narrow function in maintaining the global foreign exchange system and thus enabling international trade. This... View Details

Keywords: History; International Finance; Globalized Economies and Regions; Trade; Financial Institutions; Macroeconomics; Financial Services Industry

2019
Working Paper

Real Exchange Rate Behavior: New Evidence from Matched Retail Goods

By: Alberto Cavallo, Brent Neiman and Roberto Rigobon

We use a dataset containing daily prices for thousands of matched retail products in nine countries to study tradable-goods real exchange rates. Prices were collected from the websites of large multi-channel retailers and then carefully matched into narrowly-deﬁned... View Details

Keywords: Purchasing Power Parity; Online Prices; Real Exchange Rate; Macroeconomics; Currency Exchange Rate; Price; Internet and the Web

Web

Europe - Global Activities 2020

peacekeeping in the region during the Balkan Wars (1991–2001). Pictured: House of the National Assembly of the Republic of Serbia “Serbia makes for an excellent Business, Government, and the International Economy case study,” he says, citing the region’s unique View Details

February 1997 (Revised May 1997)
Background Note

Modern India

By: Tarun Khanna and Danielle J. Melito

Describes India's move from a controlled economy toward a more market-oriented one, commencing in 1991. Highlights the extent of changes in the product, capital, and labor markets, and the political situation at the central government, as these stood in 1995. View Details

Keywords: Developing Countries and Economies; Economic Systems; Economy; Macroeconomics; Government and Politics; Strategy; Financial Services Industry; India

01 Jun 1999
News

Conference Brings Global Perspective to Cape Town

order, noting,"It is not a choice between good and evil. It is a choice between good and good." The first plenary session on the following day was a high-powered panel discussion titled "South Africa's Macroeconomic Management" led by... View Details

Keywords: Susan Young

2008
Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management

January 2007
Case

Robert E. Rubin (A)

By: Nitin Nohria, Robert Steven Kaplan and Nicole Davison

Bob Rubin was a businessman given the task of setting up and running the National Economic Council for the Clinton Administration. Unfamiliar with management in a political climate, Rubin worked hard to design, staff, and position the Council to make better economic... View Details

Keywords: Personal Development and Career; Government and Politics; Managerial Roles; Macroeconomics; Organizational Design; Economy

Find at Harvard

June 2002 (Revised August 2002)
Case

"One Country, Two Systems"? Italy and the Mezzogiorno (A)

By: Bruce R. Scott and Jamie Matthews

GDP per person in northern Italy caught up with average incomes in Britain, France, and Germany in the 1970s, but incomes in southern Italy (the Mezzogiorno) fell further behind. This was partly due to cultural and societal differences that dated to the Renaissance,... View Details

Keywords: History; Development Economics; Crime and Corruption; Social Issues; Economy; Government and Politics; Macroeconomics; Italy

October 1993 (Revised September 1994)
Background Note

Accounting for Productivity Growth

By: Forest L. Reinhardt

Introduces students to the arithmetic of the accounting for national productivity growth. It defines labor productivity, capital productivity, and total factor productivity, describes the relationships among them, and discusses the phenomena that cause them to change... View Details

Keywords: Performance Productivity; Macroeconomics; Analytics and Data Science; Government and Politics; Mathematical Methods; United States; Singapore

19 Jan 2016
First Look

January 19, 2016

https://www.hbs.edu/faculty/Pages/item.aspx?num=50346 Land Institutions and Chinese Political Economy: Institutional Complementarities and Macroeconomic Management By: Rithmire, Meg Abstract—A rich body of literature examines the politics... View Details

Keywords: Sean Silverthorne

2009
Other Unpublished Work

Singapore Competitiveness Report

By: Christian H.M. Ketels, Ashish Lall and Boon Siong Neo

The 2009 Singapore Competitiveness Report, the first in this new series of regular assessments by the Asia Competitiveness Institute (ACI) at the Lee Kuan Yew School of Public Policy, provides data and analysis to inform the discussions on the impact of the crisis... View Details

Keywords: Economic Growth; Financial Crisis; Macroeconomics; Microeconomics; Policy; Competitive Strategy; Singapore

2007
Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management