Publications

2020
Working Paper

Inventing the Endless Frontier: The Effects of the World War II Research Effort on Post-War Innovation

By: Daniel P. Gross and Bhaven N. Sampat

During World War II, the U.S. government launched an unprecedented effort to mobilize science for war: a newly-established Office of Scientific Research and Development (OSRD) entered thousands of R&D contracts with industrial and academic contractors, spending one to... View Details

Keywords: World War II; Vannevar Bush; OSRD; Mission-oriented R＆D; Direction Of Innovation; Geography Of Innovation; Technology Clusters; U.S. Innovation System; Innovation and Invention; Research and Development; Problems and Challenges; War; History; Government Administration; United States

SSRN

September 2021
Article

Perceptions on Undertaking Regular Asymptomatic Self-testing for COVID-19 Using Lateral Flow Tests: A Qualitative Study of University Students and Staff

By: Marta Wanat, Mary Logan, Jennifer A. Hirst, Charles Vicary, Joseph J. Lee, Rafael Perera, Irene Tracey, Gordon Duff, Peter Tufano, Thomas Fanshawe, Lazaro Mwandigha, Brian D. Nicholson, Sarah Tonkin-Crine and Richard Hobbs

Objectives: Successful implementation of asymptomatic testing programmes using lateral flow tests (LFTs) depends on several factors, including feasibility, acceptability and how people act on test results. We aimed to examine experiences of university students... View Details

Keywords: COVID-19; Self-testing; Health Pandemics; Health Testing and Trials; Behavior

May 2008
Article

Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation

By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych

We examine the empirical role of different explanations for the lack of capital flows from rich to poor countries—the "Lucas Paradox." The theoretical explanations include cross country differences in fundamentals affecting productivity and capital market... View Details

Keywords: International Finance; Wealth and Poverty; Development Economics; Income; Capital Markets; Cross-Cultural and Cross-Border Issues; Australia; Peru

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2020
Working Paper

Currency Hedging in Emerging Markets: Managing Cash Flow Exposure

By: Laura Alfaro, Mauricio Calani and Liliana Varela

Foreign currency derivative markets are among the largest in the world, yet their role in emerging markets in particular, is relatively understudied. We study firms' currency risk exposure and their hedging choices by employing a unique dataset covering the universe of... View Details

Keywords: Foreign Currency Hedging; FX Derivatives; Foreign Currency Debt; Currency Mismatch; Trade Credit; Currency; Cash Flow; Emerging Markets

20 Oct 2020
Working Paper Summaries

Flight to Safety: How Economic Downturns Affect Talent Flows to Startups

Keywords: by Shai Benjamin Bernstein, Richard Townsend, and Ting Xu

2021
Working Paper

Time Dependency, Data Flow, and Competitive Advantage

By: Ehsan Valavi, Joel Hestness, Marco Iansiti, Newsha Ardalani, Feng Zhu and Karim R. Lakhani

Data is fundamental to machine learning-based products and services and is considered strategic due to its externalities for businesses, governments, non-profits, and more generally for society. It is renowned that the value of organizations (businesses, government... View Details

Keywords: Economics Of AI; Value Of Data; Perishability; Time Dependency; Flow Of Data; Data Strategy; Analytics and Data Science; Value; Strategy; Competitive Advantage

SSRN

06 Apr 2021
Working Paper Summaries

Currency Hedging in Emerging Markets: Managing Cash Flow Exposure

Keywords: by Laura Alfaro, Mauricio Calani, and Liliana Varela; Financial Services

12 Jan 2017
News

Short-Termism and Shareholder Payouts: Getting Corporate Capital Flows Right

01 Nov 2018
Working Paper Summaries

Forecasting Airport Transfer Passenger Flow Using Real-Time Data and Machine Learning

Keywords: by Xiaojia Guo, Yael Grushka-Cockayne, and Bert De Reyck; Air Transportation; Travel

March 2024
Article

Flight to Safety: How Economic Downturns Affect Talent Flows to Startups

By: Shai Bernstein, Richard Townsend and Ting Xu

Using proprietary data from AngelList Talent, we study how individuals’ job search and application behavior changed during the COVID-19 downturn. We find that job seekers shifted their searches toward more established firms and away from early-stage startups, even... View Details

Keywords: Startup Labor Market; Flight To Safety; COVID-19; Recession; Job Search; Behavior

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2022
Working Paper

Flight to Safety: How Economic Downturns Affect Talent Flows to Startups

By: Shai Bernstein, Richard Townsend and Ting Xu

Using proprietary data from AngelList Talent, we study how individuals’ job search and application behavior changed during the COVID-19 downturn. We find that job seekers shifted their searches toward more established firms and away from early-stage startups, even... View Details

Keywords: Startup Labor Market; Flight To Safety; COVID-19; Recession; Business Startups; Human Capital; Business Cycles; Health Pandemics

SSRN

March 2010
Article

Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880–1913

By: Michael D. Bordo, Alberto Cavallo and Christopher Meissner

We study the determinants and output effects of sudden stops in capital inflows during an era of intensified globalization from 1880 to 1913. Higher levels of exposure to foreign currency debt and large current account deficits associated with reliance on foreign... View Details

Keywords: Sudden Stops; Capital Flows; Economics; Macroeconomics; Economic Growth; Financial Crisis; Globalization; History

Research Summary

Overview

By: Prithwiraj Choudhury

Prithwiraj (Raj) Choudhury is the Lumry Family Associate Professor at the Harvard Business School. He was an Assistant Professor at Wharton prior to joining Harvard. His research is focused on studying the Future of Work, especially the changing Geography of Work. In... View Details

Keywords: Geography; Mobility; Migration; Multinational; Productivity; Crucible Experiences; Machine Learning; Geographic Location; Technology Industry; India; United States; China

Research Summary

Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation (joint with Sebnem Kalemli-Ozcan and Vadym Volosovych)

By: Laura Alfaro

We examine the role of different explanations for the lack of flows of capital from rich to poor countries -- the Lucas paradox -- in an empirical framework. Broadly, the theoretical explanations for this paradox include differences in fundamentals affecting the... View Details

February 2013 (Revised February 2013)
Case

King Abdullah Economic City in 2009: Population Drivers and Cash Flow

By: John D. Macomber

CEO of high profile new economic city in Saudi Arabia must decide how to allocate limited investment funds across projects under duress. Issues include understanding core economic drivers, planning infrastructure investment and return, attracting multinationals, energy... View Details

Keywords: Urban Development; Infrastructure; Real Estate Industry; Saudi Arabia

Educators

January 2024
Technical Note

Venture Capital and Private Equity Funds: A Primer

By: Jo Tango and Christina Wallace

How do venture capital and private equity funds actually work? This Technical Note covers the "when, who, and how" details:

"When": fund length, extensions, and when investors can no longer initiate new investments.
"Who": who is in the General... View Details

Keywords: Fund Flows; Fund Management; Venture Capital; Private Equity; Investment Funds

Educators

November, 2022
Article

Role of Context in Knowledge Flows: Host Country versus Headquarters as Sources of MNC Subsidiary Knowledge Inheritance

By: Mike Horia Teodorescu, Prithwiraj Choudhury and Tarun Khanna

We respond to calls in the strategy and international business literature for elucidating how multinational subsidiaries develop contextual intelligence in host countries and how they use the local context as a source of valuable opportunities for learning. Applying... View Details

Keywords: MNCs; Knowledge Flows; Innovation; Gravity Model; Absorptive Capacity; Multinational Firms and Management; Business Subsidiaries; Knowledge Management; Business Headquarters; Innovation and Invention

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