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  • All HBS Web  (1,938)
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    • News  (322)
    • Research  (1,375)
    • Events  (3)
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  • Faculty Publications  (951)

Show Results For

  • All HBS Web  (1,938)
    • People  (1)
    • News  (322)
    • Research  (1,375)
    • Events  (3)
    • Multimedia  (12)
  • Faculty Publications  (951)
← Page 3 of 1,938 Results →

    Borrowing to Live: Consumer and Mortgage Credit Revisited

    Americans are awash in debt. Credit undergirds daily life more than ever before—it is one of the defining aspects of life in the United States today. The damage from a depressed housing market is exacerbated by the subprime lender implosion, sending shock waves... View Details

    • May 2000 (Revised May 2001)
    • Case

    Debt Policy at UST Inc.

    UST, Inc. is a very profitable smokeless tobacco firm with low debt compared to other firms in the tobacco industry. The setting for the case is UST's recent decision to substantially alter its debt policy by borrowing $1 billion to finance its stock repurchase... View Details
    Keywords: Capital Structure; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry
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    Mitchell, Mark L. "Debt Policy at UST Inc." Harvard Business School Case 200-069, May 2000. (Revised May 2001.)
    • 2007
    • Working Paper

    Optimal Reserve Management and Sovereign Debt

    By: Laura Alfaro and Fabio Kanczuk
    Most models currently used to determine optimal foreign reserve holdings take the level of international debt as given. However, given the sovereign's willingness-to-pay incentive problems, reserve accumulation may reduce sustainable debt levels. In addition, assuming... View Details
    Keywords: Sovereign Finance; Borrowing and Debt; Financial Liquidity; International Finance; Emerging Markets; Mathematical Methods
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    Alfaro, Laura, and Fabio Kanczuk. "Optimal Reserve Management and Sovereign Debt." NBER Working Paper Series, No. 13216, July 2007.
    • Article

    Undisclosed Debt Sustainability

    By: Laura Alfaro and Fabio Kanczuk
    Over the past decade, non-Paris Club creditors, notably China, have become an important source of financing for low- and middle-income countries. In contrast with typical sovereign debt, these lending arrangements are not public, and other creditors have no information... View Details
    Keywords: Paris Club; Transparency; Sovereign Finance; Borrowing and Debt; International Finance
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    Alfaro, Laura, and Fabio Kanczuk. "Undisclosed Debt Sustainability." AEA Papers and Proceedings 112 (May 2022): 521–525.
    • May 1986 (Revised June 1986)
    • Case

    International Debts and Deficits

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    Meerschwam, David M. "International Debts and Deficits." Harvard Business School Case 386-188, May 1986. (Revised June 1986.)
    • Jun 2013
    • Working Paper

    Government Debt and Competitiveness

    The United States federal government’s current and projected fiscal deficits are not sustainable. View Details
    • June 2023
    • Article

    Why Is Dollar Debt Cheaper? Evidence from Peru

    By: Bryan Gutiérrez, Victoria Ivashina and Juliana Salomao
    In emerging markets, a significant share of corporate loans are denominated in dollars. Using novel data that enables us to see currency and the cost of credit, in addition to several other transaction-level characteristics, we re-examine the reasons behind dollar... View Details
    Keywords: Emerging Market Corporate Debt; Currency Mismatch; Liability Dollarization; Carry Trade; Currency; Emerging Markets; Borrowing and Debt; Interest Rates; Peru
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    Gutiérrez, Bryan, Victoria Ivashina, and Juliana Salomao. "Why Is Dollar Debt Cheaper? Evidence from Peru." Journal of Financial Economics 148, no. 3 (June 2023): 245–272.
    • 2017
    • Working Paper

    Lessons Unlearned? Corporate Debt in Emerging Markets

    By: Laura Alfaro, Gonzalo Asis, Anusha Chari and Ugo Panizza
    This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC) attributed to corporate... View Details
    Keywords: Corporate Debt; Financial Fragility; Firm-level Data; Large Firms; Emerging Markets; Borrowing and Debt; Corporate Finance; Financial Condition
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    Alfaro, Laura, Gonzalo Asis, Anusha Chari, and Ugo Panizza. "Lessons Unlearned? Corporate Debt in Emerging Markets." Harvard Business School Working Paper, No. 17-097, May 2017. (Revised October 2017. NBER Working Paper Series, No. 23407, May 2017)
    • 25 Oct 2020
    • News

    The Dark Side of Fintech Borrowing

    • 07 Sep 2010
    • News

    As Pay Falls, Borrowers Lose Ground

    • 07 Oct 2016
    • Working Paper Summaries

    Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy

    Keywords: by Wenxin Du, Carolin E. Pflueger, and Jesse Schreger
    • Research Summary

    Debt Maturity: Is Long-Term Debt Optimal? (with Fabio Kanczuk)

    By: Laura Alfaro
    We model and calibrate the arguments in favor and against short-term and long-term debt. These arguments broadly include: maturity-term premium, tax smoothing, rolling over risk and the cost from defaulting. We use a dynamic equilibrium model with tax distortion,... View Details
    • February 2004 (Revised March 2010)
    • Case

    Brazil 2003: Inflation Targeting and Debt Dynamics

    By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel
    In October 2002, Brazilians elected a left-wing president, Luis Inacio Lula da Silva, for the first time in that country's history. As markets faltered in response, Lula sought to reaffirm his commitment to fiscal discipline, a floating exchange rate, and inflation... View Details
    Keywords: Economy; Inflation and Deflation; Money; Borrowing and Debt; Policy; Emerging Markets; Brazil
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    Alfaro, Laura, Rafael M. Di Tella, and Ingrid Vogel. "Brazil 2003: Inflation Targeting and Debt Dynamics." Harvard Business School Case 704-028, February 2004. (Revised March 2010.)
    • May 2001
    • Case

    The Mexican Debt Crisis of 1982

    By: Huw Pill
    Describes Mexico's development strategy based on international borrowing and its culmination in the debt crisis of 1982. Discusses Mexico's approach to overcoming the crisis. A rewritten version of an earlier case. View Details
    Keywords: Borrowing and Debt; Financial Crisis; Growth and Development Strategy; Mexico
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    Pill, Huw. "The Mexican Debt Crisis of 1982." Harvard Business School Case 701-111, May 2001.
    • December 2020
    • Article

    Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy

    By: Wenxin Du, Carolin Pflueger and Jesse Schreger
    We document that governments whose local currency debt provides them with greater hedging benefits actually borrow more in foreign currency. We introduce two features into a government's debt portfolio choice problem to explain this finding: risk-averse lenders and... View Details
    Keywords: Investment Portfolio; Currency; Policy; Risk and Uncertainty
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    Du, Wenxin, Carolin Pflueger, and Jesse Schreger. "Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy." Journal of Finance 75, no. 6 (December 2020): 3097–3138.
    • 2017
    • Article

    A Brief Money Management Scale and Its Associations with Personality, Financial Health, and Hypothetical Debt Repayment

    By: Masha Ksendzova, Grant Edward Donnelly and Ryan Howell
    Money management is essential for financial health, and more research is needed to better assess people’s money management practices. Therefore, we factor-analyzed 205 scaled questions from previous money management measures to select the best items and examined their... View Details
    Keywords: Budgeting; Debt; Money Management; Financial Health; Scale Development; Budgets and Budgeting; Personal Finance; Behavior; Decision Making
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    Ksendzova, Masha, Grant Edward Donnelly, and Ryan Howell. "A Brief Money Management Scale and Its Associations with Personality, Financial Health, and Hypothetical Debt Repayment." Journal of Financial Counseling and Planning 28, no. 1 (2017): 62–75.
    • Research Summary

    Undisclosed Debt Sustainability

    By: Laura Alfaro
    Over the past decade, non-Paris Club creditors, notably China, have become an important source of financing for low- and middle-income countries. In contrast with typical sovereign debt, these lending arrangements are not public, and other creditors have no information... View Details
    • April 2011 (Revised February 2013)
    • Background Note

    How Government Debt Accumulates

    By: Dante Roscini and Jonathan Schlefer
    This note discusses the economics of government-debt accumulation. Fiscal deficits are only part of the picture; other factors include the level of debt as a percent of nominal GDP; the interest rate; the inflation rate; the growth rate; and changes in the exchange... View Details
    Keywords: Government and Politics; Borrowing and Debt
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    Roscini, Dante, and Jonathan Schlefer. "How Government Debt Accumulates." Harvard Business School Background Note 711-087, April 2011. (Revised February 2013.)
    • 05 Sep 2006
    • Working Paper Summaries

    Optimal Reserve Management and Sovereign Debt

    Keywords: by Laura Alfaro & Fabio Kanczuk
    • 22 Dec 2010
    • News

    Debt and the Future of the U.S.

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