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(246)
- News (129)
- Research (99)
- Multimedia (9)
- Faculty Publications (86)
Show Results For
- All HBS Web
(246)
- News (129)
- Research (99)
- Multimedia (9)
- Faculty Publications (86)
- Article
Currency Unions, Product Introductions, and the Real Exchange Rate
By: Alberto Cavallo, Brent Neiman and Roberto Rigobon
We use a novel dataset of online prices of identical goods sold by four large global retailers in dozens of countries to study good-level real exchange rates and their aggregated behavior. First, in contrast to the prior literature, we demonstrate that the law of one... View Details
Keywords: Currency Union; Law Of One Price; International Prices; Global Firm; Currency Exchange Rate; Price; International Finance
Cavallo, Alberto, Brent Neiman, and Roberto Rigobon. "Currency Unions, Product Introductions, and the Real Exchange Rate." Quarterly Journal of Economics 129, no. 2 (May 2014): 529–595.
- 2023
- Chapter
Inflation and Misallocation in New Keynesian Models
By: Alberto Cavallo, Francesco Lippi and Ken Miyahara
The New Keynesian framework implies that sluggish price adjustment results in a distorted allocation of resources. We use a simple model to quantify these unobservable distortions, using data that depict the price-setting behavior of firms, specifically the frequency... View Details
Cavallo, Alberto, Francesco Lippi, and Ken Miyahara. "Inflation and Misallocation in New Keynesian Models." In ECB Forum on Central Banking 26-28 June 2023, Sintra, Portugal: Macroeconomic Stabilisation in a Volatile Inflation Environment. European Central Bank, 2023.
- May 2017
- Article
Distracted Shareholders and Corporate Actions
By: Elisabeth Kempf, Alberto Manconi and Oliver Spalt
Investor attention matters for corporate actions. Our new identification approach constructs firm-level shareholder "distraction" measures, by exploiting exogenous shocks to unrelated parts of institutional shareholders' portfolios. Firms with "distracted" shareholders... View Details
Keywords: Investors; Business and Shareholder Relations; Executive Compensation; Stocks; Mergers and Acquisitions
Kempf, Elisabeth, Alberto Manconi, and Oliver Spalt. "Distracted Shareholders and Corporate Actions." Review of Financial Studies 30, no. 5 (May 2017): 1660–1695.
- July 1997
- Article
National Champions and Corruption: Some Unpleasant Interventionist Arithmetic
By: Alberto Ades and Rafael Di Tella
We present a hold-up model of investment where active industrial policy promotes both corruption and investment. Since corruption deters investment, the effect of industrial policy on investment is lower than when corruption is absent. We find evidence suggesting that... View Details
Keywords: Crime and Corruption
Ades, Alberto, and Rafael Di Tella. "National Champions and Corruption: Some Unpleasant Interventionist Arithmetic." Economic Journal 107, no. 443 (July 1997): 1023–43.
- February 1997 (Revised March 1998)
- Case
Smith Breeden Associates: The Equity Plus Fund (A)
By: Robert C. Merton and Alberto Moel
In early 1997, Smith Breeden Associates, a money management and consulting firm, was pondering the future of the Equity Plus Fund. The Equity Plus Fund was an S&P enhanced-index fund that tried to outperform the S&P Index by replicating the index using low-cost... View Details
Keywords: Assets; Cash; Financial Markets; Financial Strategy; Mortgages; Investment Funds; Investment Portfolio; Marketing; Performance; Consulting Industry
Merton, Robert C., and Alberto Moel. "Smith Breeden Associates: The Equity Plus Fund (A)." Harvard Business School Case 297-089, February 1997. (Revised March 1998.)
- August 2004
- Article
Inequality and Happiness: Are Europeans and Americans Different?
By: Rafael Di Tella, Alberto Alesina and Robert MacCulloch
We study the effect of the level of inequality in society on individual well-being using a total of 123,668 answers to a survey question about “happiness”. We find that individuals have a lower tendency to report themselves happy when inequality is high, even after... View Details
Di Tella, Rafael, Alberto Alesina, and Robert MacCulloch. "Inequality and Happiness: Are Europeans and Americans Different?" Journal of Public Economics 88, nos. 9-10 (August 2004): 2009–42.
- February 2004
- Case
Czech Mate: CME and Vladimir Zelezny (A)
By: Mihir A. Desai, Alberto Moel and Kathleen Luchs
This case examines how insiders can expropriate value from shareholders in emerging markets when property rights are ill-defined. As such, it provides a platform for considering how institutions and legal rules impact financing patterns and economic outcomes. CME,... View Details
Keywords: Developing Countries and Economies; Fairness; Financial Institutions; Corporate Governance; Rights; Ownership Stake
Desai, Mihir A., Alberto Moel, and Kathleen Luchs. "Czech Mate: CME and Vladimir Zelezny (A)." Harvard Business School Case 204-118, February 2004.
- May 2018
- Article
Using Online Prices for Measuring Real Consumption Across Countries
By: Alberto Cavallo, Erwin Diewert, Robert C. Feenstra, Robert Inklaar and Marcel P. Timmer
We show that online prices can be used to construct quarterly purchasing power parities (PPPs) with a closely matched set of goods and identical methodologies in a variety of developed and developing countries. Our results are close to those reported by the... View Details
Keywords: Purchasing Power Parity; International Economy; Online Prices; Billion Prices Project; Economics; Macroeconomics; Price; Internet and the Web; Spending; Economy; Global Range; Measurement and Metrics
Cavallo, Alberto, Erwin Diewert, Robert C. Feenstra, Robert Inklaar, and Marcel P. Timmer. "Using Online Prices for Measuring Real Consumption Across Countries." AEA Papers and Proceedings 108 (May 2018): 483–487.
- March 2022
- Teaching Note
Getting Brexit Done
By: Alberto Cavallo
Teaching Note for HBS Case No. 720-023. View Details
- March 2022
- Teaching Note
Automercados Plaza's: Surviving Venezuela's Hyperinflation
By: Alberto Cavallo
Teaching Note for HBS Case No. 721-014. View Details
- March 2018
- Article
Scraped Data and Sticky Prices
By: Alberto Cavallo
I use daily prices collected from online retailers in five countries to study the impact of measurement bias on three common price stickiness statistics. Relative to previous results, I find that online prices have longer durations, with fewer price changes close to... View Details
Keywords: Online Data; Scraped Data; Sticky Prices; Scanner Data; Consumer Price Index; Price; Data and Data Sets
Cavallo, Alberto. "Scraped Data and Sticky Prices." Review of Economics and Statistics 100, no. 1 (March 2018): 105–119.
- Article
Are Online and Offline Prices Similar? Evidence from Large Multi-Channel Retailers
By: Alberto Cavallo
Online prices are increasingly used for measurement and research applications, yet little is known about their relation to prices in physical stores, where most retail transactions occur. I conduct the first large-scale comparison of prices simultaneously collected... View Details
Keywords: Online Prices; Offline Prices; Multi-channel Retailers; Price; Internet and the Web; Measurement and Metrics; Retail Industry
Cavallo, Alberto. "Are Online and Offline Prices Similar? Evidence from Large Multi-Channel Retailers." American Economic Review 107, no. 1 (January 2017): 283–303.
- 15 Oct 2024
- News
Why Has Your Big Mac Become So Much More Expensive?
- 08 May 2024
- News
How Do People’s Experiences of Inflation Differ?
- 25 Feb 2024
- News
New Insights on Inflation from a Billion Prices
- 11 Oct 2022
- News
The Major Factors Driving up the Cost of Food
- 16 Oct 2019
- News
Trump’s China Deal Leaves the Global Economy as Uncertain as Ever
- 30 Aug 2018
- News
Central bankers grapple with the changing nature of competition
- September 2010 (Revised May 2012)
- Case
Windward Investment Management
By: Luis M. Viceira and Ricardo Alberto De Armas
Windward Investment Management has experienced rapid growth in assets under management in just ten years, from under $30 million at year-end 1999 to $3.6 billion in 2010. Windward is one of the leading firms in the Registered Investment Advisor (RIA) industry that... View Details
Keywords: Asset Management; Valuation; Investment; Growth and Development Strategy; Financial Services Industry
Viceira, Luis M., and Ricardo Alberto De Armas. "Windward Investment Management." Harvard Business School Case 211-005, September 2010. (Revised May 2012.)