Publications

06 Dec 2017
News

Uber Really Wants You to Use Its Credit Card

January 2025
Case

Managing the Demise of Tip Credit

By: Michael S. Kaufman and Daniella Bertolotti

February 1997 (Revised October 1999)
Case

3M: Negotiating Air Pollution Credits (C)

By: Michael A. Wheeler and Thomas Dretler

An epilogue to the (A) and (B) cases, this describes the final steps in implementing the agreement 3M made with Procter and Gamble and with local public officials and interest groups. View Details

Keywords: Agreements and Arrangements; Pollutants; Negotiation Participants; Performance Effectiveness; United States

December 2008
Article

The Credit Crisis of 2008: Causes, Consequences and Implications for India

By: V.G. Narayanan and Lisa Brem

This article gives a brief overview of the causes and consequences of the current global credit crisis. The article then discusses the benefits and potential drawbacks of real estate loan securitization in India, and what India can do to realize those benefits while... View Details

Keywords: Financial Crisis; Credit; Mortgages; Real Estate Industry; India

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22 Jul 2009
Working Paper Summaries

Reputation and Competition: Evidence from the Credit Rating Industry

Keywords: by Bo Becker & Todd Milbourn; Financial Services

30 Oct 2014
Working Paper Summaries

Housing Collateral, Credit Constraints, and Entrepreneurship-Evidence from a Mortgage Reform

Keywords: by Thais Laerkholm Jensen, Søren Leth-Petersen & Ramana Nanda; Construction; Real Estate; Financial Services

23 Apr 2014
Working Paper Summaries

Corporate Financial Policies in Misvalued Credit Markets

Keywords: by Jarrad Harford, Marc Martos-Vila & Matthew Rhodes-Kropf; Financial Services; Banking

2008
Working Paper

Fixing Market Failures or Fixing Elections? Agricultural Credit in India

By: Shawn A. Cole

This paper integrates theories of political budget cycles with theories of tactical electoral redistribution to test for political capture in a novel way. Studying banks in India, I find that government-owned bank lending tracks the electoral cycle, with agricultural... View Details

Keywords: Agribusiness; Banks and Banking; Financing and Loans; Political Elections; State Ownership; Banking Industry; India

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19 Aug 2019
News

Why banks should explain the fine print on credit cards

02 Aug 2021
News

Missing Voices in the Child Tax Credit Frenzy — Parents

2025
Working Paper

Tax Planning, Illiquidity, and Credit Risks: Evidence from DeFi Lending

By: Lisa De Simone, Peiyi Jin and Daniel Rabetti

This study establishes a plausible causal link between tax-planning-induced illiquidity and credit risks in lending markets. Exploiting an exogenous tax shock imposed by the Internal Revenue Service (IRS) on cryptocurrency gains, along with millions of transactions in... View Details

Keywords: Cryptocurrency; Taxation; Financial Liquidity; Credit; Financing and Loans; Financial Markets

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November 2023 (Revised June 2024)
Case

Zest AI: Machine Learning and Credit Access

By: David S. Scharfstein and Ryan Gilland

July 2011
Teaching Note

The Credit Suisse/Gerson Lehrman Group Alliance (TN)

By: Robert G. Eccles and Penelope Rossano

Teaching Note for 409046. View Details

Keywords: Competition; Equity; Alliances; Competitive Advantage; Leadership; Research; Business Model; Quality; Revenue; Contracts; Financial Markets; Consulting Industry; Service Industry

Research Summary

Concentrated Capital Losses and the Pricing of Corporate Credit Risk

By: Emil N. Siriwardane

In studying the U.S. credit default swap (CDS) market, Professor Siriwardane has discovered that the selling of CDS protection is extremely concentrated, with five sellers accounting for nearly half the market. Further, in contrast to what neoclassical theory... View Details

Fourth Quarter 2007
Article

Contingent Claims Approach to Measuring and Managing Sovereign Credit Risk

By: Dale . F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to measure, analyze, and manage sovereign risk based on the theory and practice of modern contingent claims analysis (CCA). The paper provides a new framework for adapting the CCA model to the sovereign balance sheet in a way that can... View Details

Keywords: Credit; Investment; Sovereign Finance; Risk Management; Emerging Markets; Market Transactions; Mathematical Methods; Valuation

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2008
Working Paper

Investable Tax Credits: The Case of the Low Income Housing Tax Credit

By: Mihir A. Desai, Dhammika Dharmapala and Monica Singhal

The Low Income Housing Tax Credit (LIHTC) represents a novel tax expenditure program that employs "investable" tax credits to spur production of low-income rental housing. While it has grown into the largest source of new affordable housing in the U.S. and its... View Details

Keywords: Investment; Governing Rules, Regulations, and Reforms; Taxation; Housing; Renting or Rental; United States