Publications

February 2010 (Revised March 2012)
Case

U.S. Healthcare Reform: International Perspectives

By: Arthur A. Daemmrich and Elia Cameron

The national economic implications of rising healthcare costs were poorly understood, even as the United States, Germany, and the United Kingdom instituted reforms in early 2010. Presenting opportunities for cross-national policy learning, this case describes the... View Details

Keywords: Macroeconomics; Insurance; Governing Rules, Regulations, and Reforms; Health Care and Treatment; Laws and Statutes; Business and Government Relations; Health Industry; Public Administration Industry; Germany; United Kingdom; United States

March 2009 (Revised June 2012)
Case

Denmark: Globalization and the Welfare State

By: Arthur A. Daemmrich and Benjamin Kramarz

This case describes how Denmark has balanced the impacts of globalization, including outsourcing and movement of labor, with its social welfare offerings. Reforms implemented during the past two decades drove down unemployment, promoted new company formation, and put... View Details

Keywords: Macroeconomics; Trade; Globalized Economies and Regions; Governing Rules, Regulations, and Reforms; Job Cuts and Outsourcing; Employment; Welfare or Wellbeing; Denmark

22 Jun 2010
First Look

First Look: June 22

they evolved in response to macroeconomic shocks that affected the Brazilian economy during this period. Download the paper: http://www.hbs.edu/research/pdf/10-109.pdf The Mirroring Hypothesis: Theory, Evidence and Exceptions (revised)... View Details

Keywords: Martha Lagace

29 Jun 2007
First Look

First Look: June 29, 2007

leverages his many years of teaching experience at Harvard Business School to lay out important macroeconomic concepts in engaging, clear, and concise terms. In a simple and intuitive way, he breaks down the ideas into "output,"... View Details

Keywords: Martha Lagace

19 Nov 2013
First Look

First Look: November 19

Publications August 2013 American Economic Journal: Macroeconomics Accounting for Crises By: Nagar, Venky, and Gwen Yu Abstract—We provide one of the first empirical evidence consistent with recent macro global-game crisis models, which... View Details

Keywords: Sean Silverthorne

July 2020
Teaching Note

COVID-19: The Global Shutdown

By: Laura Alfaro and Sarah Jeong

In the first months of 2020, a pandemic overwhelmed the world. COVID-19, commonly known as the coronavirus, spread from China and created a severe public health emergency across countries. While an immediate fear of the disease’s impact on human life permeaacted... View Details

Keywords: COVID-19; Health Pandemics; Trade; Microeconomics; Macroeconomics; Financial Crisis; Economy; Policy; Governance; Economic Systems; Economic Slowdown and Stagnation; Economic Sectors

December 2001 (Revised February 2004)
Case

Argentina's Convertibility Plan

By: Rafael M. Di Tella and Ingrid Vogel

Describes the political and economic development in Argentina from 1989 to 1995, with a focus on the role of the currency board. Culminates in Argentine policy makers (Menem in particular) contemplating how to respond to the tequila crisis in the middle of 1995.... View Details

Keywords: Currency Exchange Rate; Government and Politics; Interest Rates; Balance and Stability; Developing Countries and Economies; Financial Crisis; Crisis Management; Policy; Currency; Macroeconomics; Argentina

November 2002 (Revised June 2003)
Case

China's Rural Leap Forward

By: Bruce R. Scott and Jamie Matthews

Collectively owned township and village enterprises (TVEs) played a pivotal role in China's rapid growth during the 1980s and 1990s. Although they originated in the policies and institutions of the Maoist era, TVEs thrived only after Deng Xiaoping's economic reforms... View Details

Keywords: Business and Government Relations; Public Sector; Public Ownership; Development Economics; Governing Rules, Regulations, and Reforms; Macroeconomics; Emerging Markets; China

02 Sep 2013
Research & Ideas

The Curse of Double-Digit Growth

Harvard's Center for International Development, has confidence that Liberia has the ability to strike a balance between growth and stability. Among the strengths working in its favor, he says, are transparency and macroeconomic stability.... View Details

Keywords: by Kim Girard

April 2017 (Revised February 2020)
Case

Restructuring Ukraine

By: Kristin Mugford, Seema Amble and Tian Feng

In June 2015, Ukraine found itself struggling with a volatile and devalued currency, dramatically diminished foreign reserves, and a projected financing shortfall of $40 billion. Ukraine’s new government sought to return the nation to stability following political... View Details

Keywords: Exchange Rates; Politics; Macroeconomics; Financial Crisis; Insolvency and Bankruptcy; Restructuring; Economy; Currency Exchange Rate; Banks and Banking; Economic Slowdown and Stagnation; Bonds; Sovereign Finance; Capital Markets; Credit; Debt Securities; Financial Liquidity; Financial Markets; Government and Politics; Ukraine

02 Jul 2013
First Look

First Look: July 2

what are the key drivers of technology; and what are the macroeconomic consequences of technology. We prioritize in our discussion unified approaches to these three questions that are based on direct measures of technology. 2006 pub... View Details

Keywords: Anna Secino

June 2016 (Revised May 2017)
Case

FANUC Corporation: Reassessing the Firm's Governance and Financial Policies

By: Benjamin C. Esty, Nobuo Sato and Akiko Kanno

In February 2015, Daniel Loeb (a U.S.–based activist investor) announced his firm had a large investment in FANUC Corporation, a leading producer of industrial robots and software for machine tools. Loeb was demanding that the Japanese firm change its financial and... View Details

Keywords: Hedge Funds; Economic Policy; Investments; Government Policy; Deregulation; Financial Management; Valuation; Investment Funds; Policy; Corporate Governance; Macroeconomics; Investment Activism; Change Management; Financial Strategy; Cross-Cultural and Cross-Border Issues; Japan; United States

02 Sep 2014
First Look

First Look: September 2

macroeconomic crises. This note focuses primarily on private sector investment in industrial and infrastructure projects and contains four sections. The first section defines project finance and contrasts it with other well-known... View Details

Keywords: Sean Silverthorne

16 Aug 2016
First Look

August 16, 2016

firm’s net protection sellers. Capital fluctuations of sellers account for 10% of the time-series variation in spread changes, a significant amount given that observable firm and macroeconomic factors account for less than 16% of... View Details

Keywords: Sean Silverthorne

15 Sep 2009
First Look

First Look: September 15

least a quarter of per capita income differences. Download the paper: http://www.hbs.edu/research/pdf/08-093.pdf Was the Wealth of Nations Determined in 1000 B.C.? Authors:Diego A. Comin, Bill Easterly, and Erick Gong Publication:American Economic Journal: View Details

Keywords: Martha Lagace

20 Oct 2009
First Look

First Look: October 20

Institutions: Crisis and Choice in the International Financial Architecture Author:Laura Alfaro Publication:World Scientific Publishing Company, in press Abstract All managers face a business environment in which international and View Details

Keywords: Martha Lagace

27 May 2009
First Look

First Look: May 27, 2009

Cross-Country Income Differences Authors:Laura Alfaro, Andrew Charlton, and Fabio Kanczuk Publication:NBER International Seminar on Macroeconomics 2008. Cambridge, Mass.: NBER, 2009 Abstract We investigate, using plant-level data for 79... View Details

Keywords: Martha Lagace

December 2020 (Revised April 2021)
Case

Arcos Dorados: A QSR Recovery Plan

By: Forest Reinhardt, José B. Alvarez, Jenyfeer Martinez Buitrago and Mariana Cal

Arcos Dorados—McDonald’s largest independent franchisee, covering Latin America and the Caribbean (LAC)—faced a pandemic that was disrupting the entire consumer foodservice business in 2020. With the exclusive right to own, operate, and sub-franchise McDonald’s... View Details