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November 2000
Case

beenz.com: Building "The Web's Currency" Into a Global Business

Beenz.com, an incentive-based Web currency and customer management tool, is reassessing its business in August 2000, one year after launch. The original vision was to make the currency globally available and recognized. However, the company's rapid internationalization... View Details

Keywords: Globalized Firms and Management; Growth Management; Internet and the Web; Marketing; Business Startups

August 1995
Case

Credit General, SA

By: Andre F. Perold

The head of a bank's asset and liability committee has to approve an unexpectedly large overnight currency exposure or require at great cost that the exposure be reduced. View Details

Keywords: Risk Management; Currency; Financial Services Industry; Banking Industry

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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August 2010 (Revised February 2012)
Supplement

Cosmeticos de Espana, S.A. (D)

By: David F. Hawkins

The fourth case in the Cosmeticos de Espana case series. What should management's accounting response be to the imposition of foreign currency controls? View Details

Keywords: Financial Statements; Decision Choices and Conditions; Inflation and Deflation; Currency Exchange Rate; Governance Controls; Beauty and Cosmetics Industry; Spain; Venezuela

November 1993 (Revised May 1995)
Background Note

Measuring Foreign Activities

By: David F. Hawkins

Discusses foreign currency accounting issues that a manager of a global business might encounter. View Details

Keywords: International Accounting; Globalized Firms and Management

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January 2025 (Revised April 2025)
Case

Doing Business in Cairo: Navigating a Path to Economic Resilience

By: A. Zelleke and Ahmed Dahawy

Egypt has long been a pivotal force in the Middle East and North Africa. Located at a crossroads of global trade routes, the country was a strategic partner for numerous regional and global powers. However, a substantial currency devaluation in 2016 brought many... View Details

Keywords: Business; Developing Countries and Economies; Economic Slowdown and Stagnation; Inflation and Deflation; Macroeconomics; Cross-Cultural and Cross-Border Issues; Globalized Economies and Regions; International Relations; Emerging Markets; Risk and Uncertainty; Culture; Economy; Country; Currency; Investment; Governing Rules, Regulations, and Reforms; Egypt

December 2013 (Revised March 2024)
Case

Breaking Bad (the Rules): Argentina Defaults, Inflates (and Grows), 1997–2015

By: Rafael Di Tella and Fernanda Miguel

In late October 2011, after losing 1 billion of dollar reserves in one month, the Argentine government began imposing a series of currency controls, limiting the ability to buy foreign currency. As of October 2011, Argentina's tax collection agency AFIP had been... View Details

Keywords: Default; Inflation; Inflation and Deflation; Currency; Governance Controls; Argentina

November 2023
Case

Will Fintechs and Central Banks Play in Emtech's Sandbox?

By: Daniel Isenberg and William R. Kerr

In February 2023, Emtech’s founder Carmelle Cadet is facing a dilemma. Rapidly running out of cash, Cadet has a term sheet from a leading VC but has a choice of how to structure the investment. The decision will have significant implications for Cadet’s own stake, as... View Details

Keywords: Cryptocurrency; Business Startups; Venture Capital; Cash Flow; Currency; Governing Rules, Regulations, and Reforms; Digital Platforms

April 2011 (Revised December 2017)
Case

Latvia: Navigating the Strait of Messina

By: Rafael Di Tella, Rawi Abdelal and Natalie Kindred

This case describes Latvia's transition from a Soviet republic into an EU member, its economic boom and subsequent bust in 2008, and its policy response. After implementing significant economic and political reforms in order to qualify for EU membership in 2004, Latvia... View Details

Keywords: Currency Exchange Rate; Competitive Strategy; Economic Growth; Policy; Financial Crisis; Economic Slowdown and Stagnation; Latvia

Article

Fans Watch Taylor Swift. Economists Watch the Fans

By: Scott Duke Kominers

The star will sell tickets first to fans who "boost" her work online. It's an auction, but the currency is not money. View Details

Keywords: Auctions

June 2002 (Revised October 2002)
Background Note

Argentina: Data Supplement, 1990-2002

By: Huw Pill and Ingrid Vogel

Provides basic macroeconomic data for Argentina for the period 1990 through 2002. Covers the period from the adoption of Argentina's currency board to its ultimate demise and beyond. View Details

Keywords: Financial Crisis; Macroeconomics; Argentina

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25 Feb 2002
Research & Ideas

MNCs in Asia: Investing in the Future

in the Asia-Pacific region," said Hooper. "To be a major global player, you have to take part in this market. My biggest challenges in Asia are currency devaluation, government price rollbacks, and patent infringements—but we'd... View Details

Keywords: by Julia Hanna

January 1989 (Revised July 1991)
Case

Bank for International Development, Software Case

By: W. Carl Kester and Timothy A. Luehrman

A hypothetical case in which an assistant treasurer of a supranational bank is asked to determine in which currencies it has been cheaper ex post to borrow. An integral part of the case is a Lotus 1-2-3 worksheet containing monthly data on yen and dollar interest... View Details

Keywords: Decisions; Interest Rates; International Finance; Relationships; Currency; Management Analysis, Tools, and Techniques; Analytics and Data Science; Inflation and Deflation

April 2001
Background Note

Exchange Rate Terminology and Analytics

An introduction to the concept of exchange rates, simple analytics regarding currency appreciation and devaluation, and real and nominal exchange rates. Concludes with a series of examples that illustrate how shifts in exchange rates and inflation can affect firms'... View Details

Keywords: Competition; Currency Exchange Rate; Inflation and Deflation

December 2020
Article

Monetary Policy and Global Banking

By: Falk Bräuning and Victoria Ivashina

When central banks adjust interest rates, the opportunity cost of lending in local currency changes, but—in absence of frictions—there is no spillover effect to lending in other currencies. However, when equity capital is limited, global banks must benchmark domestic... View Details

Keywords: Global Banks; Monetary Policy Transmission; Cross-border Lending; Banks and Banking; Financial Markets; Global Range

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February 2019
Editorial

Introduction To: The Euro at Twenty

By: Laura Alfaro and Paul R. Bergin

The article introduces a special volume on the “Euro at Twenty” as the currency was first introduced January 1, 1999. The volume includes papers by renowned leaders and thinkers: Jean-Claude Trichet, former President of the European Central Bank; Claudia Buch,... View Details

Keywords: The Euro; Currency; Europe; European Union

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October 2002 (Revised January 2003)
Case

McDonald's Russia: Managing a Crisis

By: Youngme E. Moon and Kerry Herman

In August 1998, George Cohon, founder and senior chairman of McDonald's Russia, is facing an economic state of emergency. Russia is in the midst of a severe currency crisis--the ruble has plummeted in value, creating massive inflation and widespread economic disarray.... View Details

Keywords: Currency; Crisis Management; Brands and Branding; Retail Industry; Food and Beverage Industry; Russia

January 1987 (Revised November 1991)
Case

R.J. Reynolds International Financing

By: W. Carl Kester and William B. Allen

Reynolds must source a substantial portion of the financing of its Nabisco acquisition in offshore bond markets. Morgan Guaranty has proposed a yen/dollar dual currency Eurobond that could be hedged into dollars. This structure is compared to Eurodollar Bonds, Euroyen... View Details

Keywords: Acquisition; Capital Markets; Currency Exchange Rate; Credit Derivatives and Swaps; Bonds; Financing and Loans

2017
Working Paper

Malleable Monopoly Money: Does How You Pay For A Gift Card Affect How You Spend It?

By: Priya Raghubir and Shelle Santana

This research examines the malleability of a specific form of “monopoly” money (viz., Raghubir and Srivastava 2008), gift cards, and shows that the manner in which one purchases a gift card affects its subjective value and subsequent use. Study 1 shows that... View Details

Keywords: Subjective Value Of Money; Economic Psychology; Behavioral Economics; Gift Cards; Money; Value; Perception

April 1998
Case

Responding to 21st Century Financial Crisis

By: Huw Pill

During the 1990s, financial crises appear to have been almost annual events. Examples abound: the collapse of S & Ls in the United States; currency mayhem in Europe; Mexican devaluation and banking crisis; Japanese banks teetering on the verge of default; currency and... View Details

Keywords: Global Range; Financial Crisis

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