Publications

November 2005
Teaching Note

Japan: Deficits, Demography and Deflation (TN)

By: Richard H.K. Vietor

Keywords: Sovereign Finance; Demographics; Inflation and Deflation; Japan

July 2005 (Revised December 2006)
Case

Japan: Deficits, Demography, and Deflation

By: Richard H.K. Vietor

By 2005, Japan's debt had risen to 163% of GDP. For more than a decade, the government had run huge deficits, trying unsuccessfully to stimulate economic growth. Interest rates, meanwhile, had been zero for years. But with slow growth and banks in crisis, nothing had... View Details

Keywords: Economy; Economic Growth; Demographics; Financial Condition; Inflation and Deflation; Banks and Banking; Borrowing and Debt; Macroeconomics; Policy; Government and Politics; Welfare; Health Care and Treatment; Japan

07 Oct 2024
News

How E-Commerce Is Making China’s Deflation Worse

12 Mar 2009
Working Paper Summaries

Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds

Keywords: by John Y. Campbell, Adi Sunderam & Luis M. Viceira

07 Jun 2009
News

Cash in on the war between inflation and deflation

October 1997
Article

Real Interest Rates and Growth: Improving on Some Deflating Experiences

By: Huw Pill

Find at Harvard

2017
Article

Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds

By: John Y. Campbell, Adi Sunderam and Luis M. Viceira

The covariance between U.S. Treasury bond returns and stock returns has moved considerably over time. While it was slightly positive on average in the period 1953–2009, it was unusually high in the early 1980s and negative in the 2000s, particularly in the downturns of... View Details

Keywords: Inflation and Deflation; Bonds; Interest Rates; Investment Return; Risk Management

2009
Working Paper

Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds

By: John Y. Campbell, Adi Sunderam and Luis M. Viceira

27 May 2009
News

How to offset the current deflation while preparing for inflation in the future

2013
Working Paper

Internet Appendix for "Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds"

By: Adi Sunderam, Luis M. Viceira and John Y. Campbell

May 2022
Case

Rawbank's Illico Cash: Can 'Fast Money' Overcome Cash Dependency in the DRC?

By: Lauren Cohen and Grace Headinger

Thomas de Dreux-Brézé, the Head of Strategy and Project Management at Rawbank Congo in the Democratic Republic of the Congo (DRC), was perplexed as he reviewed annual adoption rates for the bank’s launch of Illico Cash 2.0. As the bank’s mobile money app, Illico Cash... View Details

March 2022 (Revised May 2022)
Case

Reclaiming the Land of Purple: Purpl’s Mission to Unlock Finance in Lebanon

By: Lauren Cohen and Grace Headinger

Karl Naim, Co-Founder and CEO of Purpl, embarked on a venture to lower remittance costs for his native Lebanon. Since October 2019, the Lebanese economy had entered a free fall as its banking sector collapsed and large swathes of its population were plunged into... View Details

Keywords: Business Startup; Fintech; Inflation; Deflation; Cross-border Frictions; Remittances; Business Startups; Diasporas; Financial Crisis; Money; Entrepreneurship; Cross-Cultural and Cross-Border Issues; Poverty; Financial Institutions; Banking Industry; Financial Services Industry; Technology Industry; Lebanon

26 Oct 2010
News

Heads I Win, Tails I Win Too

02 Sep 2015
Research & Ideas

Explaining China's Crash

After more than a decade of nearly can’t-miss growth, China’s stock market began a precipitous summer slide that has spooked investors worldwide. In July, the Shanghai composite index dropped 15 percent from June, prompting the People’s Bank of China to devalue the... View Details

Keywords: by Christina Pazzanese; Financial Services

2010
Working Paper

Valuation When Cash Flow Forecasts Are Biased

By: Richard S. Ruback

This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are biased measures of expected cash flows. I imagine a simple setting where the expected cash flows equal the forecasted cash flows plus an omitted downside.... View Details

Keywords: Forecasting and Prediction; Cash Flow; Cost of Capital; Performance Expectations; Prejudice and Bias; Valuation

18 May 2010
News

Brands and the Dark Side of Social Media

October 2013
Case

Japan: Abe's Three Arrows?

By: Richard H.K. Vietor

After the Koizumi government ended in 2006, Japan continued to struggle with slow growth, deflation and, in 2011, a tsunami and nuclear disaster. Following a series of several more unsuccessful prime ministers, Shinzo Abe again became the prime minister in 2012 and... View Details

Keywords: Economic Development; Quantitative Easing; Stagnation; National Strategy; Development Economics; Economic Slowdown and Stagnation; Strategy; Japan