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- Faculty Publications (219)
Show Results For
- All HBS Web (510)
- Faculty Publications (219)
- January – March 2012
- Article
Bond Risk, Bond Return Volatility, and the Term Structure of Interest Rates
By: Luis M. Viceira
This paper explores time variation in bond risk, as measured by the covariation of bond returns with stock returns and with consumption growth, and in the volatility of bond returns. A robust stylized fact in empirical finance is that the spread between the yield on... View Details
Keywords: Bonds; Volatility; Forecasting and Prediction; Interest Rates; Inflation and Deflation; Investment Return; Risk and Uncertainty; Currency Exchange Rate; Cash Flow; Stocks
Viceira, Luis M. "Bond Risk, Bond Return Volatility, and the Term Structure of Interest Rates." International Journal of Forecasting 28, no. 1 (January–March 2012): 97–117.
- August 1995 (Revised October 1996)
- Case
Futures on the Mexican Peso
By: Kenneth A. Froot, Matthew McBrady and Mark Seasholes
The Chicago Mercantile Exchange needs to decide how to design, and whether and when to introduce, a futures contract on the Mexican peso. View Details
Keywords: Exchange Rates; Money Markets; Futures Market; Country Analysis; International Finance; Financial Markets; Futures and Commodity Futures; Financial Services Industry; Chicago; Mexico
Froot, Kenneth A., Matthew McBrady, and Mark Seasholes. "Futures on the Mexican Peso." Harvard Business School Case 296-004, August 1995. (Revised October 1996.)
- March 2005 (Revised January 2006)
- Case
Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures
By: Mihir A. Desai and Mark Veblen
How should a multinational firm manage foreign exchange exposures? Examines transactional and translational exposures and alternative responses to these exposures by analyzing two specific hedging decisions by General Motors. Describes General Motors' corporate hedging... View Details
Keywords: Multinational Firms and Management; Currency Exchange Rate; Expansion; Credit Derivatives and Swaps; Financial Management; Investment Funds; Risk and Uncertainty; International Finance; Auto Industry
Desai, Mihir A., and Mark Veblen. "Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures." Harvard Business School Case 205-095, March 2005. (Revised January 2006.)
- April 2010
- Case
Groupe Ariel S.A.: Parity Conditions and Cross-Border Valuation
By: Timothy A. Luehrman and James Quinn
Groupe Ariel evaluates a proposal from its Mexican subsidiary to purchase and install cost-saving equipment at a manufacturing facility in Monterrey. The improvements will allow the plant to automate recycling and remanufacturing of toner and printer cartridges, an... View Details
Keywords: Exchange Rates; Securities Analysis; Project Evaluation; International Finance; Debt Securities; Currency Exchange Rate; Cash Flow; Cross-Cultural and Cross-Border Issues; Capital Budgeting; Europe; Mexico
Luehrman, Timothy A., and James Quinn. "Groupe Ariel S.A.: Parity Conditions and Cross-Border Valuation." Harvard Business School Brief Case 104-194, April 2010.
- January 1996 (Revised December 1999)
- Case
1994-95 Mexican Peso Crisis, The
By: Kenneth A. Froot and Matthew McBrady
Explores the peso crisis of 1994-95 and why it occurred. Students must examine Mexico's policies, the capital market's reactions, and the implications of devaluation for future capital flows and growth. View Details
Keywords: Exchange Rates; International Capital Markets; Devaluation; Currency Exchange Rate; Financial Markets; International Finance; Capital; Mexico
Froot, Kenneth A., and Matthew McBrady. "1994-95 Mexican Peso Crisis, The." Harvard Business School Case 296-056, January 1996. (Revised December 1999.)
- April 2010
- Teaching Note
Groupe Ariel S.A.: Parity Conditions and Cross-Border Valuation (Brief Case)
By: Timothy A. Luehrman and James Quinn
Teaching Note for 4194 View Details
- May 2006 (Revised November 2006)
- Case
China: To Float or Not To Float? (F)- Alcatel and Strong Chinese Competition
By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel
The Chinese operations of Alcatel, a global communications solution provider based in France, were faced with strong local competition and a difficult market. It remained unclear how Alcatel would be able to recover growth in the Chinese market. Initiatives were... View Details
Keywords: Currency Exchange Rate; International Relations; Growth and Development Strategy; Research and Development; Competitive Strategy; Horizontal Integration; Communications Industry; China; France; United States
Alfaro, Laura, Rafael M. Di Tella, and Ingrid Vogel. "China: To Float or Not To Float? (F)- Alcatel and Strong Chinese Competition." Harvard Business School Case 706-036, May 2006. (Revised November 2006.)
The International Price of Remote Work
We use data from a large web-based job platform to study how the price of remote work is determined in a globalized labor market. In the platform, workers located around the world compete for jobs that can be done... View Details
- 1993
- Working Paper
Currency Hedging Over Long Horizons
By: K. A. Froot
This paper reexamines the widely-held wisdom that the currency exposure of international investments should be entirely hedged. It finds that the previously documented ability of hedges to reduce portfolio return variance holds at short horizons, but not at long... View Details
- September 1998
- Book Review
Review of 'Financial Markets and European Monetary Cooperation: The Lessons of the 1992-93 Exchange Rate Mechanism Crisis' by W.H. Buiter, G. Corsetti and P.A. Pesenti
By: Huw Pill
Pill, Huw. "Review of 'Financial Markets and European Monetary Cooperation: The Lessons of the 1992-93 Exchange Rate Mechanism Crisis' by W.H. Buiter, G. Corsetti and P.A. Pesenti." Journal of Economic Literature 36, no. 3 (September 1998): 1510–1512.
- March 2005 (Revised March 2006)
- Case
Foreign Exchange Hedging Strategies at General Motors: Competitive Exposures
By: Mihir A. Desai and Mark Veblen
How can a multinational firm analyze and manage currency risks that arise from competitive exposures? General Motors has a substantial competitive exposure to the Japanese yen. Although the risks GM faces from the depreciating yen are widely acknowledged, the company's... View Details
Keywords: Multinational Firms and Management; Currency Exchange Rate; Competition; Credit Derivatives and Swaps; International Finance; Financial Management; Investment Funds; Risk and Uncertainty; Auto Industry
Desai, Mihir A., and Mark Veblen. "Foreign Exchange Hedging Strategies at General Motors: Competitive Exposures." Harvard Business School Case 205-096, March 2005. (Revised March 2006.)
- 1996
- Working Paper
The Determinants of Optimal Currency Hedging
By: Kenneth Froot and André Perold
- January 2006
- Teaching Note
Foreign Exchange Hedging Strategies at General Motors: Competitive Exposures (TN)
By: Mihir A. Desai and Kathleen Luchs
- October 2012 (Revised April 2017)
- Case
Brazil's Enigma: Sustaining Long-Term Growth
By: Laura Alfaro, Hilary White and Haviland Sheldahl-Thomason
Over the past decade, Brazil's future as a leading world economic power appeared certain. An expanding middle class and commodity boom had fueled economic growth, with GDP growth hitting a peak of 7.5% in 2010. However, the high cost of conducting business in Brazil,... View Details
Keywords: Capital Controls; Inflation; Exchange Rates; Stimulus; Competitiveness; Productivity Growth; Foreign Investment; Infrastructure; Inflation and Deflation; Currency Exchange Rate; Brazil
Alfaro, Laura, Hilary White, and Haviland Sheldahl-Thomason. "Brazil's Enigma: Sustaining Long-Term Growth." Harvard Business School Case 713-040, October 2012. (Revised April 2017.)
- January 2006
- Teaching Note
Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures (TN)
By: Mihir A. Desai and Kathleen Luchs
- March 2014 (Revised June 2015)
- Case
Can Mexico Make Democracy Work?
By: Gunnar Trumbull and Jonathan Schlefer
Enrique Peña Nieto, the presidential candidate of the old Mexican ruling party elected in 2012, passed the most fundamental reforms in at least two decades. They included allowing private competition in the energy sector, including with the state-owned oil company,... View Details
Keywords: Democratization; Economic Development; Competition Policy; Exchange Rates; Comparative Advantage; Growth and Development; Government Legislation; Political Elections; Economic Growth; Governing Rules, Regulations, and Reforms; Energy Industry; Communications Industry; Banking Industry; Latin America; Mexico
Trumbull, Gunnar, and Jonathan Schlefer. "Can Mexico Make Democracy Work?" Harvard Business School Case 714-049, March 2014. (Revised June 2015.)
- 11 May 2016
- News
World Bank Vice President and Treasurer: Negative Rates Not the Answer
Bank in September 2015, previously serving a five-year term as director-general of Nigeria’s Security and Exchange Commission from 2011 to 2015. An alumni profile of her during that stint details her transformative efforts at the... View Details
- March 1984 (Revised November 2001)
- Case
Decline of the Dollar, The: 1978
Describes the U.S. experience with floating exchange rates between 1973 and 1978, focusing on the rapid decline of the dollar in the summer of 1978. Illustrates the major determinants of the exchange rates and the role of government intervention in the foreign exchange... View Details
Rukstad, Michael G., and Daniel Pope. "Decline of the Dollar, The: 1978." Harvard Business School Case 384-116, March 1984. (Revised November 2001.)
- June 2003 (Revised January 2004)
- Case
The Euro-Dollar Decision (A)
By: Huw Pill, John C. Kelleher, Michael T. Nally and David Schlendorf
Explores the factors that determine floating exchange rates in the context of the introduction of the euro in January 1999. View Details
Pill, Huw, John C. Kelleher, Michael T. Nally, and David Schlendorf. "The Euro-Dollar Decision (A)." Harvard Business School Case 703-071, June 2003. (Revised January 2004.)
- June 2013 (Revised June 2013)
- Teaching Note
Brazil's Enigma: Sustaining Long-Term Growth & Currency Wars
By: Laura Alfaro and Hilary White
Over the past decade, Brazil's future as a leading world economic power appeared certain. An expanding middle class and commodity boom had fueled economic growth, with GDP growth hitting a peak of 7.5% in 2010. However, the high cost of conducting business in Brazil,... View Details
Keywords: Exchange Rate; Inflation; Inflation Targeting; Industrialization; Infrastructure; Currency; Capital Controls; Stimulus; Commodity Prices; Manufacturing Costs; Globalization; Productivity Growth; Economics; Economic Slowdown and Stagnation; Inflation and Deflation; Macroeconomics; Public Sector; Brazil; South America; Latin America