Publications

June 2018
Article

The Fed, the Bond Market, and Gradualism in Monetary Policy

By: Jeremy C. Stein and Adi Sunderam

We develop a model of monetary policy with two key features: (i) the central bank has some private information about its long-run target for the policy rate, and (ii) the central bank is averse to bond-market volatility. In this setting, discretionary monetary policy... View Details

Keywords: Central Banking; Interest Rates; Policy; Bonds; Financial Markets

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01 Mar 2013
News

Making Change

Foundation Clinton Fellows. Part-time, we also have an urban planner working on policy and an architect. Our annual budget of about $200,000 is part grant-funded and part fees-generated from consulting assignments. What makes you most... View Details

Keywords: Margie Kelley; housing; gay rights; diabesity; disability; Construction of Buildings; Construction; Educational Services; Social Assistance; Health, Social Assistance; News, Library, Internet, and Other Services; Information; Real Estate

February 2004 (Revised January 2005)
Case

Hewlett-Packard: Culture in Changing Times

By: Michael Beer, Rakesh Khurana and James Weber

HP had been a highly successful and respected company for decades. It was well known for its company culture and management practices--the HP way--which emphasized both profits and people. Changing markets, strong competitors, and the growth of its computer business,... View Details

Keywords: Acquisition; Decision Choices and Conditions; Human Resources; Leading Change; Managerial Roles; Organizational Change and Adaptation; Organizational Culture; Performance Effectiveness; Adoption; Competition

July 2001 (Revised October 2001)
Case

Policy Management Systems Corp.: The Financial Reporting Crisis

Tim Williams, the new CFO of a publicly-traded enterprise software company, attempts to rebuild his company's reputation for reliable financial reporting following a highly visible financial reporting crisis. The crisis begins with an earnings shortfall warning, which... View Details

Keywords: Accrual Accounting; Revenue Recognition; Capital Markets; Policy; Corporate Governance; Accounting Audits; Technology Industry

June 2003 (Revised August 2003)
Case

Pension Policy at The Boots Company PLC

By: Luis M. Viceira and Akiko M. Mitsui

In early 2000, the trustees of the pension scheme at Boots considered a proposal to move 100% of the pension assets into a bond portfolio, which would be passively managed. The Boots Co. PLC was a leading retailer of cosmetics and toiletries in the United Kingdom, and... View Details

Keywords: Performance Productivity; Employees; Asset Management; Capital Structure; Investment Portfolio; Consumer Products Industry; United Kingdom

2007
Working Paper

Testing Limits to Policy Reversal: Evidence from Indian Privatizations

By: Siddhartha G. Dastidar, Raymond Fisman and Tarun Khanna

We examine the effect of regime change on privatization using the 2004 election surprise in India. The pro-reform BJP was unexpectedly defeated by a less reformist coalition. Stock prices of government-controlled companies that had been slated for definite... View Details

Keywords: Political Elections; Privatization; State Ownership; Policy; India

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August 2012
Article

Organ Allocation Policy and the Decision to Donate

By: Judd B. Kessler and Alvin E. Roth

Organ donations from deceased donors (cadavers) provide the majority of transplanted organs in the United States, and one deceased donor can save numerous lives by providing multiple organs. Nevertheless, most Americans are not registered organ donors despite the... View Details

Keywords: Organ Donation; Health; Philanthropy and Charitable Giving; Decision Making; Resource Allocation; Mathematical Methods; United States

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December 1993
Case

Ford Motor Coompany: Changing the Dealer Culture

Confronted by increasing market emphasis on customer satisfaction coupled with the success of General Motors' Saturn Division with "no haggle" pricing, Ford Motor Co. examines the sales culture within its own dealers and considers how to implement policies that will... View Details

Keywords: Organizational Change and Adaptation; Salesforce Management; Customer Satisfaction; Auto Industry; United States

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13 Apr 2015
News

Sizing up climate change

April 2009 (Revised June 2010)
Case

U.S. Subprime Mortgage Crisis: Policy Reactions (B)

By: Laura Alfaro and Renee Kim

In March 2009, the U.S. economy was in a severe recession not seen since the Great Depression after the subprime mortgage crisis had spiraled out of control. The situation had dramatically changed in one year since the Federal Reserve Board had helped to bailout... View Details

Keywords: Financial Crisis; Central Banking; Mortgages; Globalized Economies and Regions; Policy; United States