Publications
Publications
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- Faculty Publications (106)
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- February 2017 (Revised December 2018)
- Case
From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem (Abridged)
By: Elie Ofek and Margot Eiran
In June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel’s strong innovation track record and the country’s reputation as the “start-up nation.” Despite the economic miracle the country had wrought since its founding, he... View Details
- February 2017 (Revised January 2018)
- Case
Womenomics in Japan
By: Boris Groysberg, Mayuka Yamazaki, Nobuo Sato and David Lane
This case profiles Prime Minister Shinzo Abe's vigorous attempts to revive Japan's economy, specifically by advocating for a larger role for women in the economy—not as a matter of social policy or gender equity per se, but as an essential element of any solution to... View Details
Keywords: Gender Equality; Japan; Leadership; Government-business Relations; Shinzo Abe; Economic Growth; Aging Society; Womenomics; Abenomics; Labor Market Discrimination; Workplace Culture; Women And Leadership; Change Management; Leading Change; Gender; Business and Government Relations; Growth and Development; Employment; Working Conditions
- 2016
- Working Paper
Populism and the Return of the 'Paranoid Style': Some Evidence and a Simple Model of Demand for Incompetence as Insurance Against Elite Betrayal
By: Rafael Di Tella and Julio J. Rotemberg
We present a simple model of populism as the rejection of “disloyal” leaders. We show that adding the assumption that people are worse off when they experience low income as a result of leader betrayal (than when it is the result of bad luck) to a simple voter choice... View Details
Keywords: Corruption; Betrayal; Populism; Incompetence; Literacy; Crime and Corruption; Income; Ethics; Political Elections; Race; Residency
- 2016
- Working Paper
Meet the Oligarchs: Business Legitimacy, State Capacity and Taxation
By: Rafael Di Tella, Juan Dubra and Alejandro Lagomarsino
We analyze the role of people’s beliefs about the rich in the determination of public policy in the context of a randomized online survey experiment. A question we study is the desirability of government-private sector meetings, a variable we argue is connected to... View Details
- December 2016 (Revised December 2018)
- Case
From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem
By: Elie Ofek and Margot Eiran
In June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel’s strong innovation track record and the country’s reputation as the “startup nation.” Despite the economic miracle the country had wrought since its founding, he... View Details
Keywords: Israel; Israeli Start-up Nation; Innovation Economy; Entrepreneurial Mindset; Scaling-up; Unicorns; Innovation Clusters; High-tech; Innovation Management; Multinational Corporation R＆D Centers; Social Equality; Two-tier Economy; Liberalizing An Economy; Foreign Investment; Military Service; Quality Of Human Capital; Socioeconomic Gaps; Labor Force Participation; Government Initiatives; Innovation and Management; Entrepreneurship; Venture Capital; Business Startups; Government and Politics; Economy; Equality and Inequality; Education; Resource Allocation; Globalization; Israel
- November 2016 (Revised March 2018)
- Case
Brexit
By: Laura Alfaro, Jesse Schreger and Haviland Sheldahl-Thomason
After more than 40 years of membership in the European Union, the United Kingdom voted via referendum to separate from the EU on June 23, 2016. Following the surprise verdict (termed Brexit), a political upheaval followed, with many ministers, including Prime Minister... View Details
- August 2016 (Revised October 2016)
- Case
Nirvana Vihar Rehabilitation Homes
By: Shawn Cole, Andreas Rotenberg and Thomas van den Aarssen
Kumar Builders (KUL) was finally nearing completion on the four luxury condominium towers that comprised the first phase of its bold vision for the redevelopment of more than 70 acres of prime real estate in downtown Pune, India. The Nirvana Hills development also... View Details
- July 2016 (Revised October 2018)
- Case
Tolaram: Innovating in Africa
By: Derek van Bever and Efosa Ojomo
Tolaram is a Singaporean company that began operations selling textiles in Nigeria in the 1970s. Executives and brothers, Haresh and Sajesh Aswani, however, saw an opportunity to create an instant noodle market in the country. In 1988, they began importing Indomie... View Details
- 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
- June 2016
- Supplement
FANUC Corporation: Reassessing the Firm's Governance and Financial Policies Spreadsheet Supplement
By: Benjamin C. Esty and Akiko Kanno
In February 2015, Daniel Loeb (a US-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
- January 2016
- Article
Blind Loyalty?: How Group Loyalty Makes Us See Evil or Engage in It
By: John Angus D. Hildreth, Francesca Gino and Max Bazerman
Loyalty often drives corruption. Corporate scandals, political machinations, and sports cheating highlight how loyalty's pernicious nature manifests in collusion, conspiracy, cronyism, nepotism, and other forms of cheating. Yet loyalty is also touted as an ethical... View Details
- May 2015
- Teaching Note
The United Kingdom and the Means to Prosperity
By: Laura Alfaro, Lakshmi Iyer and Hilary White
After struggling through the country's longest recession since 2008, the U.K. was expected to grow faster than any other G7 nation in 2014. Analysts wondered whether the return to growth was because, or in spite of, Prime Minister David Cameron's controversial £113... View Details
Keywords: United Kingdom; Austerity; Fiscal Deficits; Fiscal Policy; Keynesian Multiplier; Government; Government Policy; Recessions; Depression; Inequality; Government Intervention In The Markets; Stagnation; Public Finance; Economics; Macroeconomics; Government Administration; Business and Government Relations; Economic Growth; Economic Slowdown and Stagnation; Public Sector; Economy; Financial Crisis; Taxation; Government and Politics; United Kingdom
- 10 May 2015
- Conference Presentation
Building a Competitive Jerusalem
By: Michael E. Porter and Christian H.M. Ketels
Jerusalem 2020 is a five-year growth plan for Jerusalem's economic development based on Professor Michael E. Porter's theory of competitive advantage. The plan was presented to Israeli Prime Minister Benjamin Netanyahu with the goal of significant investment by the... View Details
- April 2015 (Revised January 2020)
- Case
Japan's Missing Arrow?
By: Laura Alfaro and Hilary White
In late December 2014, Shinzo Abe was elected to another term as the prime minister of Japan. His re-election was largely interpreted as a vote of confidence for his economics policies, collectively referred to as "Abenomics." Comprised of three "arrows," including... View Details
Keywords: Currency; Bonds; Government Bonds; Government Debt; Public Finance; Quantitative Easing; Stimulus; Fiscal Policy; Fiscal Deficits; Debt Management; Debt Reduction; Abenomics; Exchange Rate; Exports; Reform; Economics; Macroeconomics; Policy; Government Legislation; Government and Politics; Asia; Japan
- December 2014 (Revised May 2019)
- Case
Bhutan: Governing for Happiness
By: Sophus A. Reinert, Thomas Humphrey and Benjamin Safran
Unique among the world’s countries, the Himalayan Kingdom of Bhutan had abandoned the traditional policy goal of increasing Gross Domestic Product (GDP) in favor of pursuing Gross National Happiness (GNH). Famously, Bhutan ranked highly on lists of the happiest... View Details
- September 2014 (Revised May 2015)
- Case
The United Kingdom and the Means to Prosperity
By: Laura Alfaro, Lakshmi Iyer and Hilary White
After struggling through the country's longest recession since 2008, the U.K. was expected to grow faster than any other G7 nation in 2014. Analysts wondered whether the return to growth was because, or in spite of, Prime Minister David Cameron's controversial £113... View Details
Keywords: United Kingdom; Keynesian Multiplier; Inflation; Inflation Targeting; Government Spending; Government Intervention In The Markets; Monetary Policy; Financial Crisis Management; Austerity; Inequality; Public Finance; Government Finance; Macroeconomics; Economics; Government and Politics; Inflation and Deflation; Financial Crisis; Economic Slowdown and Stagnation; Economic Growth; Business Cycles; Welfare; United Kingdom
- August 2014 (Revised November 2015)
- Case
Rick's Dilemma
By: Arthur I. Segel, Charles F. Wu, Siddharth Yog and Ben Eppler
In 2014, Rick is serving as a trustee for a large family trust whose principle asset is a plot of prime real estate in the Upper East Side of Manhattan. The land is currently subject to a ground lease which pays $4.6 million annually, with resets every 20 years at 4.5%... View Details
- Article
Asymptotic Improvements of Lower Bounds for the Least Common Multiples of Arithmetic Progressions
By: Daniel M. Kane and Scott Duke Kominers
For relatively prime positive integers and r, we consider the least common multiple L_n:=\mathop{\textrm{lcm}}(u_0,u_1,\dots, u_n) of the finite arithmetic progression \{u_k:=u_0+kr\}_{k=0}^n. We derive new lower bounds on L_n that improve upon those obtained... View Details
Keywords: Mathematical Methods
- June 2014
- Article
Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Funds
By: Sergey Chernenko and Adi Sunderam
We document the consequences of money market fund risk taking during the European sovereign debt crisis. Using a novel data set of security-level holdings of prime money market funds, we show that funds with large exposures to risky Eurozone banks suffered significant... View Details